Opportunity Cost: Making a choice means sacrificing something else at the same time because we can’t have everything. If the value of what is given up is significant, then the choice incurs a relative loss, and it is up to the CEO to recognize this as a cost. In reality, whether I am aware of the opportunity cost or not, it still impacts my current financial situation. However, to calculate profit or loss as an opportunity cost, there must be a future opportunity to forgo the current choice and select an alternative. No one should keep repeating the cycle of giving up and choosing without knowing whether the next decision will be beneficial or not. Giving up is worthwhile only when the next option is good. - Joseph’s “just my thoughts”
Video creators often face bankruptcy due to “editing.” Profit is essential for revenue generation; profit is realized only when revenue surpasses costs. “Editing” constitutes a significant “cost” to boost sales. There’s a belief that quality editing enhances the likelihood of sales. While this is somewhat true, survival until a sales surge depends primarily on minimizing costs (editing). It’s not filming, but “editing” that often leads video productions to financial failure. Nonetheless, many production companies fail to adequately factor in editing costs into their overall production expenses. The reality is that a substantial amount of money is tied up in “editing.” - Joseph’s “just my thoughts”