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”
Negativity Bias : the tendency to focus more on bad things than good ones, influenced by its survival benefits . Our language contains about 30% words expressing positive emotions, 50% expressing negative emotions, and the rest neutral. It’s probably normal to say negative things. However, even in this environment, a small number of successful people use “ positive language ” that they are less likely to speak. Habits are important. - Joseph’s “just my thoughts”