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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 #0662

Humans can explain why they consciously act, but it’s hard to clarify their unconscious actions. When we can’t explain our unconscious behaviors, we often feel a sense of fear. We perform many actions unconsciously without realizing it, but if we can’t explain why, our brains invent their own stories. Humans are naturally drawn to and affected by stories. Fear arises when we’re in a situation that can’t be explained by our stories.


- Joseph’s “just my thoughts”




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