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Just my thoughts #0752

An important aspect of understanding your business ecosystem is knowing your position within it (positioning), whether you hold a higher or lower (subordinate) role, and whether your offerings are substitutes or complements. Netflix started as a DVD rental service. With the rise of online streaming, Netflix saw it as a replacement for DVD rentals. Kimbap and Ramen are complementary goods, but Ramen and Udon are substitutes. This is why, even when setting up a snack bar, paying attention to the menu is crucial. Complementary goods increase sales, while substitutes are more likely to lead to no change or even a decline in sales. - Joseph’s “just my thoughts”
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Just my thoughts #0104

Emotion is an asset and an expense simultaneously. Emotions can make wealth, but increase costs, and reduce wealth. What emotions increase wealth? I choose ‘Heart Fluttering’ first. The feeling of stability without heart fluttering is fiction. It never lasts. Are you excited when you work? Does your heart pound when meeting someone you love? Probably, are you cheating on yourself in the feeling of stability without flutter?


- Joseph’s “just my thoughts”




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