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”
Humans reveal their values through choices amidst contradictions. When people experience anger, they tend to prioritize the reasons behind that emotion; when they feel regret, they recognize what they love about the other person. Essentially, humans display their true character in adverse situations . - Joseph’s “just my thoughts”