Business debates who benefits most from time. When borrowing money, the debtor gains the benefit of time until the repayment date. Since the period before repayment favors the debtor, the debtor compensates the creditor with interest. However, as the repayment date approaches, time shifts to favor the creditor. After the due date, the debtor loses the benefit of time, known as ‘acceleration of debt,’ and must repay both the principal and interest. Time benefits debtors but poses risks to creditors. Therefore, lending money without interest results in a loss. All of this illustrates the power of time. Time is money, and money derives its value from time. The most important factors for CEOs to focus on are time and, next, opportunity cost. - Joseph’s “just my thoughts”
For leadership to be good, one must always grow up with self-objectivity and self-verification. It refers to admitting when something is wrong immediately and changing direction and attitude. However, this meta-recognition property presents a significant obstacle to leadership. People tend to follow a leader who sides with them rather than one who possesses exemplary character and ability. The more reasonable the leaders are, the easier it is to overlook this phenomenon, and the more likely they are to make enemies in the process of making sensible and correct decisions. This raises the question: do you need to be a good leader? Not necessarily. The basic rule is not to use an inflexible yardstick. - Joseph’s “just my thoughts”