{"id":3034,"date":"2021-10-13T12:22:54","date_gmt":"2021-10-13T19:22:54","guid":{"rendered":"https:\/\/www.scot.fun\/damentals\/?p=3034"},"modified":"2021-10-14T09:40:28","modified_gmt":"2021-10-14T16:40:28","slug":"transaction-cost","status":"publish","type":"post","link":"https:\/\/www.scot.fun\/damentals\/transaction-cost\/","title":{"rendered":"Transaction Cost"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"667\" data-attachment-id=\"3036\" data-permalink=\"https:\/\/www.scot.fun\/damentals\/transaction-cost\/pexels-taryn-elliott-7688356\/\" data-orig-file=\"https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2021\/10\/pexels-taryn-elliott-7688356.jpg?fit=2000%2C1303&amp;ssl=1\" data-orig-size=\"2000,1303\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"pexels-taryn-elliott-7688356\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2021\/10\/pexels-taryn-elliott-7688356.jpg?fit=300%2C195&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2021\/10\/pexels-taryn-elliott-7688356.jpg?fit=1024%2C667&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2021\/10\/pexels-taryn-elliott-7688356.jpg?resize=1024%2C667&#038;ssl=1\" alt=\"\" class=\"wp-image-3036\" srcset=\"https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2021\/10\/pexels-taryn-elliott-7688356.jpg?resize=1024%2C667&amp;ssl=1 1024w, https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2021\/10\/pexels-taryn-elliott-7688356.jpg?resize=300%2C195&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2021\/10\/pexels-taryn-elliott-7688356.jpg?w=2000&amp;ssl=1 2000w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>I have a restaurant with a windy hallway. When my waiter brings you a salad, a few leaves of spinach will always blow off the plate. I lose the spinach and you don&#8217;t gain it.<\/li><li>You rob my car. You break the window and steal the radio. I lose the radio and the window and I have to clean up the mess.<\/li><li>I write you three drafts of a letter. I send you one. I lose three pieces of paper. You gain one.<\/li><\/ul>\n\n\n\n<p>This delta between what I lose and what you gain in a transaction is the transaction cost. It&#8217;s a constant question for me&#8230; how do I make sure my audiences get the majority of what I&#8217;m offering them? My best feeling in life is knowing that I&#8217;m serving someone well &#8211; that what I&#8217;m doing is being received. We don&#8217;t want to sing a song through a bad sound system, or tell a bunch of jokes that are mostly not the crowd&#8217;s taste, or tell a story that puts people to sleep.<\/p>\n\n\n\n<p>When we&#8217;re underpaid for a job, I think this is the real cause of being bummed. We feel like we put a lot into something and nobody gained the results. A lot was lost.<\/p>\n\n\n\n<p>Transaction cost is not bad and it&#8217;s not avoidable. Our job is to value engineer what we do to a point of getting the most spinach to stay in the salad. We do this by&#8230;<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>getting better at understanding what we do<\/li><li>empathizing with our audience<\/li><li>remembering what our goals are<\/li><li>honestly evaluating our work<\/li><\/ol>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I have a restaurant with a windy hallway. When my waiter brings you a salad, a few leaves of spinach will always blow off the plate. I lose the spinach and you don&#8217;t gain it. You rob my car. You break the window and steal the radio. I lose the radio and the window and [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":3036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10158666434799935_26707174888":"","twitter_aToyMjM4MTQzMDs=_22381430":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-3034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2021\/10\/pexels-taryn-elliott-7688356.jpg?fit=2000%2C1303&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/pc33gc-MW","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":790,"url":"https:\/\/www.scot.fun\/damentals\/entertainers-quit\/","url_meta":{"origin":3034,"position":0},"title":"Entertainers: quit","author":"scot","date":"May 29, 2020","format":false,"excerpt":"It sounds really cool to say \"I'll never quit...\" unless... wait... no. It sounds stupid. If I'm eating a meal that tastes terrible, do I need to finish it? If I start a war that is clearly not solving any of the problems I hoped, do I keep fighting until\u2026","rel":"","context":"With 2 comments","block_context":{"text":"With 2 comments","link":"https:\/\/www.scot.fun\/damentals\/entertainers-quit\/#comments"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2021\/01\/close-up-portrait-of-woman-246804-scaled-1.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2021\/01\/close-up-portrait-of-woman-246804-scaled-1.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2021\/01\/close-up-portrait-of-woman-246804-scaled-1.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2021\/01\/close-up-portrait-of-woman-246804-scaled-1.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2021\/01\/close-up-portrait-of-woman-246804-scaled-1.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":2815,"url":"https:\/\/www.scot.fun\/damentals\/self-abuse-entertainment\/","url_meta":{"origin":3034,"position":1},"title":"Self-Abuse + Entertainment","author":"scot","date":"August 20, 2021","format":false,"excerpt":"Comedians have told me they don't want to lose weight or gain weight because they will lose what's funny about them. Writers have bragged to me about their isolation tendencies. I want you to know... 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I'm writing this because... i want to get all my thoughts in one place about it I know that many great creators who read this want to be able to dedicate more of\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3799,"url":"https:\/\/www.scot.fun\/damentals\/flitch\/","url_meta":{"origin":3034,"position":5},"title":"Flitch","author":"scot","date":"August 22, 2023","format":false,"excerpt":"Flitch (noun): the next, most effective task that has the greatest impact on success. eg: \"I'm trying to lose weight. I'll work on getting better sleep and exercize soon, but my flitch is calorie restriction.\"more info...","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2023\/08\/dictionary-scotfun-1.jpg?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2023\/08\/dictionary-scotfun-1.jpg?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2023\/08\/dictionary-scotfun-1.jpg?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2023\/08\/dictionary-scotfun-1.jpg?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.scot.fun\/damentals\/wp-content\/uploads\/2023\/08\/dictionary-scotfun-1.jpg?fit=1200%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.scot.fun\/damentals\/wp-json\/wp\/v2\/posts\/3034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scot.fun\/damentals\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scot.fun\/damentals\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scot.fun\/damentals\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scot.fun\/damentals\/wp-json\/wp\/v2\/comments?post=3034"}],"version-history":[{"count":2,"href":"https:\/\/www.scot.fun\/damentals\/wp-json\/wp\/v2\/posts\/3034\/revisions"}],"predecessor-version":[{"id":3039,"href":"https:\/\/www.scot.fun\/damentals\/wp-json\/wp\/v2\/posts\/3034\/revisions\/3039"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scot.fun\/damentals\/wp-json\/wp\/v2\/media\/3036"}],"wp:attachment":[{"href":"https:\/\/www.scot.fun\/damentals\/wp-json\/wp\/v2\/media?parent=3034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scot.fun\/damentals\/wp-json\/wp\/v2\/categories?post=3034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scot.fun\/damentals\/wp-json\/wp\/v2\/tags?post=3034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}