If you’re not a full-time investor and are considering an investment method, start by defining your identity. That means deciding what your main job is and what your side job is because it greatly affects your time management in investing and influences your results. If you can’t monitor stock trading daily or hourly, then you’re not a full-time investor and should treat investing as a side job. How I allocate my time for investing plays a crucial role in choosing and deciding how to invest. There are many different ways to invest around the world. Impatience is the main mistake that can ruin both my life and my investments. My view of time is that it’s my life. - Joseph’s “just my thoughts”
In 2019, the coffee shop franchise Banapresso had 47 branches in Seoul, 35 of which were concentrated in the Gangnam and Seocho districts. There were even other Banapresso stores within 200 meters of each other. It was denser than Starbucks. 100% of orders were placed through kiosks and mobile apps. The elders thought it would be hard to place an unattended order, but when they tried it, they were impressed with how seamlessly they were connected to the register. An Americano costs KRW 1,500 (about USD 1.27). There was only one employee. Everything was ordered at the touch of a button and the coffee was served within 40 seconds. All the bread was made at a nearby headquarters and distributed in batches. Banapresso was the antithesis of a traditional coffee franchise. Its parent company is an IT company that operates a ride-hailing app. The same business can be completely transformed into a different business model, due to the interpretation and context. - Joseph’s “just my thoughts”