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”
Little money makes people rich, while big money can make people poor. It’s about our attitude towards money . Money should neither be overlooked nor be ostentatious . However, what is certain is that if you ignore small amounts of money, high-quality money will not follow, and if you pursue only big money, there is a strong possibility of losing everything in an instant. A person’s attitude determines the nature of money, and the legitimacy of the way they make money affects the quality of that money . Not all money earned is equal; it varies in quality depending on how people treat it. - Joseph’s “just my thoughts”