Joseph's "Just My Thoughts"

Posts

Showing posts with the label rich

Just my thoughts #0396

Warren Buffett, who has amassed 99% of his wealth since the age of 50, revealed that the secret lies in “compound.” When you lend money, interest is added to the principal as income. Initially, interest is applied only to the principal, but compound interest is applied to both the principal and the accumulated interest. Therefore, at first, it seems negligible, but over time, significant wealth growth takes place. The same principle applies to reading: even if your reading speed is slow, consistently reading just a few books each day can lead to a wealth of knowledge. After a year, this accumulated knowledge creates a network effect, allowing you to quickly absorb new information. Consequently, your reading speed increases dramatically, leading to an exponential growth in the volume of material you can handle. This exemplifies the compound interest effect. Even small, consistent actions taken daily can build up and create a compound interest effect over time. Cartoonist Lee Hyun-se sta...

Just my thoughts #0395

The scariest customers in the world are regulars, not picky or complaining customers. Regulars pay a fair price. However, there is no such thing as ‘natural’ in the world. When regulars change their minds, not only do businesses suffer significant financial damage, but they also suffer emotionally. There are traps in naturalness, seeds of failure, and wounds caused by conceit. The older and closer people are, the more cautious you should be. - Joseph’s “just my thoughts”

Just my thoughts #0394

People fall due to stubbornness rather than a lack of intelligence. However, that doesn’t mean we’ll succeed simply by letting go of stubbornness. Failure and success follow different formulas. These two subjects belong to different dimensions and involve distinct elements and processes. Still, baseless stubbornness is an issue worth considering. Because of this stubbornness, not only does one suffer, but others also experience harm. - Joseph’s “just my thoughts”

Just my thoughts #0393

Human relationships are intertwined, so loving and being loved cannot be quantified. There is rarely a scenario where love is given or received unilaterally. When someone with little experience in accepting love from others tries to love, their affection is likely to be selfish. Dedicating oneself to a loved one while refusing to accept that person’s devotion is akin to accepting a child’s cute movements while disliking their grumblings. Establishing an artificial relationship and preventing it from evolving beyond superficiality merely highlights one’s selfishness. - Joseph’s “just my thoughts”

Just my thoughts #0392

The banana tree is not actually a tree; it is a type of grass. The reason the stalks of this grass are mistaken for trees is that the stalks of bananas accumulate and become hard. Wild bananas contain seeds, but the bananas we eat today are one of the “Cavendish” varieties. People discovered and popularized a seedless mutation for commercial purposes. So, how do bananas grow without seeds? Once a banana has attached, it does not grow again from the same stalk, so the farmer cuts it away. Bananas propagate by transplanting roots that grow next to the severed stems. Therefore, edible bananas around the world share almost identical genetic DNA. Thus, if bananas become diseased, there is a high likelihood of complete annihilation. For life, diversity is an essential condition for survival, and the same applies to companies. - Joseph’s “just my thoughts”

Just my thoughts #0391

Tom Sawyer was punished by Aunt Polly. As part of his punishment, Tom is painting the fence of his house when his local friends come by to ask if it’s fun. When Tom tells them that it is, they ask for a chance to try it. Tom refuses, saying it’s not free, but his friends offer him toys and food, begging for permission. Tom ends up profiting while fulfilling Aunt Polly’s punishment without doing the work himself. There is a dynamic relationship in everything, and management provides a little strength wherever things can go well. If you work hard without question, you need to bring toys and food to others, but if you work wisely, you’ll achieve your goals with the help of others, gaining both toys and food along with praise. All Tom did was hold a paintbrush in front of the fence and smile. - Joseph’s “just my thoughts”

Just my thoughts #0390

If we don’t have something, we often think we don’t have it at all. However, even when we possess nothing, we fail to check if someone around us has something, and we simply give up. If someone nearby lacks it, we give up immediately. We struggle to identify the next person around us, don’t inquire about introductions, and we lack the courage to reach out. In difficult situations, we see only the fact that we have nothing substantial and can’t contemplate anything beyond that. No, we don’t even attempt to change our mindset. People falter not because they lack resources, but because they don’t think or have the courage. Even though we should live with wisdom instead of just hard work, we often labor tirelessly but without insight. This leads to more downfall; it feels like choosing to perish. Doing our best doesn’t equate to merely working hard. We strive for achievement yet work diligently without being wise. Consequently, we find ourselves falling again. - Joseph’s “just my thoughts”

Just my thoughts #0389

Peter Drucker stated that marketing is not the same as sales; instead, it aims to make sales unnecessary. He also mentioned that marketing is not just the final step in production but occurs at every stage from beginning to end. Furthermore, a company’s functions can be categorized into marketing and innovation. While sales are vital for generating revenue, it’s crucial to grasp the concept that marketing makes sales redundant. Many companies struggle because they fail to understand this concept and incur losses from unnecessary expenses. - Joseph’s “just my thoughts”

Just my thoughts #0388

Humans, among Earth’s creatures, have the largest whites in their eyes, making it easy to convey the movement of the eyes outward. For this reason, eyes communicate a great deal to others. With just a glance, it’s easy for humans to intuitively grasp a person’s emotions. Most herbivorous animals have horizontally shaped pupils, an evolutionary adaptation that allows them to detect approaching predators even while they bow down to graze. The eye serves as an emotional and social organ. - Joseph’s “just my thoughts”

Just my thoughts #0387

In the Old Testament, the book of Exodus, verse 8:9, depicts a scene where God promises Moses that Israel will escape from Egypt and be led to Canaan, the Promised Land. This is described as “a land where the rocks are iron and you can dig copper out of the hills.” This event took place during the Bronze Age civilization, but God mentions the resources that exist in the Promised Land, highlighting the transition from the Bronze Age to the Iron Age. Indeed, after migrating to Canaan, Israel established a copper mine to extract copper. The advancements in civilization and technology during this period hold significant historical importance for humanity. We are currently living in one of those transformative times. - Joseph’s “just my thoughts”

Just my thoughts #0386

For a business to succeed, kairos, situations, and relationships are all essential. Kairos is an aspect beyond human control, often described as ‘luck.’ It exists within a realm ruled by coincidence and timing. Situation pertains to the interests of the land, encompassing all resources except human resources. Relationships represent human resources that I can cultivate through human unity. Among these three elements, there is a saying that kairos accounts for 70% of success, leaving 30% to other factors. This underscores why we should avoid boasting about our abilities, even in the face of our achievements. - Joseph’s “just my thoughts”

Just my thoughts #0385

Capability belongs to the individual, while ability extends beyond the individual level, as it is essential for setting goals and achieving performance. This implies that one cannot accomplish results alone. To achieve results, there are factors that transcend the individual and are significantly influenced by kairos, situations, and relationships. No single person can control all of these elements. Kairos refers to divine timing, while situations arise from abilities and relationships, which persist as an authority. The effectiveness of a position is termed power, and Max Weber defined it as “the power to carry out one’s will regardless of the will of others.” - Joseph’s “just my thoughts”

Just my thoughts #0384

If capability defines whether you can do something, ability determines how far and how much you can exercise it. Capability is a possible state with a purpose, while ability is a state in which a specific objective is set for achievement. Therefore, without a goal, there is no actual ability. People with such excellent abilities are known as specialists. The result of ability is termed performance, which reflects how well the goal was achieved using that ability. - Joseph’s “just my thoughts”

Just my thoughts #0383

What a person can do (possible) or cannot do (impossible) is referred to as that person’s CAPABILITY. Having a lot of CAPABILITY means that someone possesses many skills. Such individuals become generalists rather than specialists. A specialist is an expert in one field, possessing a prominent ABILITY, which gives them greater competitiveness in that area compared to others, while a generalist is often suited for roles like managers or investors who synthesize and evaluate information comprehensively. Additionally, a generalist can also become a type of specialist, depending on the choices made. - Joseph’s “just my thoughts”

Just my thoughts #0382

In philosophy, the term ‘concept’ denotes an idea formed by extracting and synthesizing common elements from an object or phenomenon. If you lack strength, it’s better to focus; however, if you don’t understand the concept, you can’t. Without knowledge of the concept, you remain unaware of the boundaries and classifications, making it difficult to discard what’s useless or select what you genuinely need. Understanding the core idea means grasping a concept that remains constant even when circumstances and environments shift. - Joseph’s “just my thoughts”

Just my thoughts #0381

In the Genesis of the Bible, there is a scene where Adam sees and names all creations. Naming is a social act. By giving something a name, we can specify and refer to it, allowing us to treat it as an object of praise or criticism in society. This is why popularity rises; its popularity becomes power, while criticism can lead to rejection. Suppose no names are assigned to the objects in the world. Human sociality would revert to a primitive state the moment names disappear. A name is not just a title; it embodies your existence. - Joseph’s “just my thoughts”

Just my thoughts #0380

Don’t give advice recklessly. Only offer it to those who can truly listen. When someone who hears advice chooses to ignore it, it signifies that they are dismissing the adviser and will rely only on their own judgment. While behavior remains unchanged, asserting that they can understand the advice also reflects an attitude that undermines the adviser’s personality. The lack of behavioral change indicates that the person did not grasp the advice. Advice holds greater power for the listener than for the adviser. - Joseph’s “just my thoughts”

Just my thoughts #0379

The prerequisite for working is to earn a profit. Revenue is defined as sales minus costs and expenses. In other words, you must incur costs and expenses before you can make sales. Profits arise when sales exceed costs and expenses. If I overlook this straightforward reason, the harder I work, the more I will struggle and negatively impact others. Behind the concept of generating significant revenue lies an oversight of the importance of making a profit. Increased revenue also leads to more significant expenses. The total costs and expenses associated with making sales are referred to as prime costs. Many businesspeople in this world are unaware of prime cost structures and focus solely on boosting sales. - Joseph’s “just my thoughts”

Just my thoughts #0378

A venture company president established an environment that encouraged open dialogue to foster an honest organizational culture, yet soon after, the company’s structure fell apart. Honesty can often be painful. To minimize the hurt caused by honesty, it is crucial to consider who delivers the message. In other words, if a respected individual speaks candidly, people are likely to feel less discomfort. Organizations can falter if honesty is prioritized over a culture of respect. - Joseph’s “just my thoughts”

Just my thoughts #0377

The ‘halo effect’ refers to the error of evaluating a person based solely on one strength. This mistake arises from our human tendency to see only what we want to see and to know only what we wish to know. People often regret choosing a smart but uncommitted individual once they realize they were attracted to that person’s intelligence after bringing them onto the team, ultimately leading to the wrong choice. This is an easy mistake to make, especially when the chosen person’s ability is particularly remarkable. When erroneous human resource decisions occur, businesses can fail. - Joseph’s “just my thoughts”