These are the two things I just learned this morning. Of course I had head knowledge of them anyway but the best part of everything is practical. Let's say for instance, the operation of some cryptocurrencies have standards; it can be decentralized. The rules of engagement here is that it is open for anyone without middle men infringements. The techniques applied here are embedded into the program codings.
We can talk of consensus mechanisms as one of those strategies. Here, it gets difficult to be tricked or dubbed in the process of planned alterations. Talking also on standards, we can also talk about an increase in transaction fees for a currency like Bitcoin. It has been debatable anyway when talking of how it has been an inconvenience. Nevertheless, we just have to accept that that's Bitcoin’s standards.
Many people jumped into the chain so yes, we can't ignore that this chain has grown. It will be part of what I will be looking at from another angle in the later part of this article. So how was the entire slowness in transactions curbed? This is where the techniques of introducing sidechains played its part; at least we have heard of lightning networks as attributed to Bitcoin.
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If you were to ask me, I see the word standard as a means to sustain growth while on the other hand, techniques are focused on security. We can also say that technique is more of making sure your customer gets the needed satisfaction while you put in a pay raise so you also meet up.
Moving away from the technology world into the local entrepreneurial markets. Ok, I got a glimpse of this article while I was in my office. A nearby wholesale entrepreneur called on me to show me how he almost got dubbed by his suppliers.
Bad products were brought to him in bulk and I don't know how his instinct even led him to decide to test them out. How will you be able to recognize bad eggs in so many crates you got from the farm?.
This is where technique sets in because the technology to achieve this, well, is very expensive. I was really amazed by his traditional technique on this; a bucket and a phone touch, that was all. sounds surprising, I was too and I saw the results right there. The bucket is to create a dark environment when kept horizontally opened while the phone touch is to scan the eggs from the outside.
Those that were good accept the light just as it came in while the bad ones appeared opaque. You could see a formation inside such an egg from the outside. In short, he did another experiment to verify his techniques. He broke one and later boiled some too. The opaqued ones had already changed color from the inside and I must say it was a big thumbs up for him to escape that loss.
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Assuming he took it for supply, he would have lost both customer reputation and profit. It would have been difficult to know the exact number of eggs to seek a refund or replacement from the farm. What was the take home; simple tools can produce magnificent results; apply IQ.
The second part was on my own end. I had to apply standards so I could make sure I am not running business at any loss. The fact is, if you want to grow your brand, you can't do without standards. There were times where anything goes, not anymore.
After moving to our new office, I had to focus on profitable products and services rendering. It is not about how busy you are, after 30 to 365 days it might turn out it was just business.
So a long time customer called who used to patronize from our old office. He wanted us to do a laundry pick up and deliver service. Of course we do that, but with terms and conditions. I mean, you will have to consider first the cost of to and froing.
I had to first know how much materials we were going to pick up. It wasn't up to our current pick up volume. I had to tell him that our minimum is 10 materials. Who couldn't meet up so the deal was aborted.
To conclude, let me add, as an entrepreneur, punching your calculator should be a regular habit. Business and busyness are two different statements in the process. While the first helps foster an entrepreneur’s vision the latter is likely to lead to bankruptcy. Have standards and also apply every needed technique.
Posted Using INLEO