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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 #0325

If you encounter heavy traffic jams during your commute, you should avoid purchasing real estate in that area. This is a clear indication that property prices have already significantly increased. If you cannot look beyond the superficial signs, you’ll always tread the same path as those before you, living a life dictated by others’ choices rather than your own judgment.


- Joseph’s “just my thoughts”




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