To build wealth, you must live on your current income, not your future income. Using a credit card allows you to live in the present relying on future income, whereas using a debit card or cash enables you to live in the present with current income. To achieve prosperity, you need to have compound interest working in your favor. Living in the present with future income means depending on the compound interest of others, while living in the present with current income allows you to benefit from compound interest yourself. Don’t live in the present by discounting the future. Don’t discount your time; give it a premium. - Joseph’s “just my thoughts”
Believing that customers and consumers are identical can be misleading. These two terms are fundamentally different. For instance, parents don’t purchase a diaper after trying it on themselves, and pet owners don’t eat pet food before buying it. When the buyer is distinct from the actual user of the product, it’s crucial for sellers to approach product strategy and purchasing considerations with this distinction in mind. Often, we engage in business without fully understanding the nature of the products involved, which can lead to failure. - Joseph’s “just my thoughts”