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”
Some people live because of ‘doubt,’ others because of ‘confidence,’ and some because of ‘guess.’ Often, people make a living based on the positive factors we think of, but the opposite is also true. In fact, there are instances where positive factors threaten livelihood . Some people thrive on accuracy and certainty , while many live amid the unsettled and uncertain . The world is not always bright. There are many different ways to live and principles to follow. What do I do for a living? - Joseph’s “just my thoughts”