I sure wish someone had explained this to me before college, and even then I had to work out how to use it for myself. Hope it helps you.

This video is a lesson from the Dark Eyes video course. 

If none of this music theory made sense to you, consider the video course for Basic Music Theory: How to Read, Write, and Understand Written Music. 

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This episode is also available as a blog post: http://thepracticeofpractice.com/2021/04/06/how-to-use-the-dim7-chord/