Founders often start a business without understanding their profit model. People are more likely to fail because they only think, “I have to work!” and don’t truly grasp how and why they can make money from it. They don’t understand the concept of capital, meaning the basic funds, nor do they understand the founder’s equity. They have heard the terms often but don’t really know their meaning or importance. They don’t recognize it, although they may have heard of it a lot. You start a business and partner with others without knowing whether your return is the reward for taking risks, giving up current interests, or sacrificing competitors. Understanding this is a fundamental part of entrepreneurship. Yet, in reality, they run their business without considering these issues simply because they need to work and can do so at the moment. - Joseph’s “just my thoughts”
We often play ladder games when betting. If you want to win, you can choose the option as far as possible from the marked “tagger”. If the “tagger” is displayed on the middle option, the most likely chance of not getting caught is when selecting the option at both ends. If you have a tag on one end, you can avoid the tag by choosing the other side end option. This is because the probability of winning a ladder game follows the “normal distribution” model. - Joseph’s “just my thoughts”