Structure and Attributes : Some companies fail even though their goods and services are of good quality. A strong business model attracts customers as its popularity grows. For example, online gaming is popular until the size of the customer base becomes too large, causing problems. Conversely, a fitness club might become an issue as it expands beyond an appropriate level, resulting in a sudden increase in customers. High quality alone does not guarantee success. The main goal of a business is to increase profits through sales, and good quality and service are essential for this. Yet, some companies and brands lack these basics. Some CEOs complain about a lack of profit despite having these essentials. In any business, structure and attributes are most important. No matter how much you work, if the structure is wrong, your business can still fail, regardless of how many customers you have. Many entrepreneurs do not realize the risks of ignoring this core truth. - Joseph’s “just m...
Google founder Sergey Brin, one day asked a great question. “What will happen if we give this service for free?” The result was, as we know well, “MONOPOLY”. Google gives employees 100,000 meals a day for free. This is because Google found that providing free meals is more profitable for the company. Initially, a payment system was introduced in the cafeteria. Soon, however, Google changed its mind when it saw the people waiting in line. Google learned the “opportunity cost”. Google's technology is excellent, but they realize it is not about making money. Fate changed when they discovered that the Business Model for that technology made money. - Joseph’s “just my thoughts”