Skip to main content

Posts

Showing posts with the label business model

Just my thoughts #0710

Businesses are more likely to succeed if they are intuitive. Education should also be intuitive to improve the learning experience. Most famous entrance exam instructors communicate principles or knowledge intuitively. To teach well means to teach in an intuitive way. A good example of intuition is ‘advertising,’ because it must deliver the core message quickly. If you cannot intuitively communicate your business or identity, internal members will struggle to communicate effectively with outsiders. People subconsciously reject complex content and complicated delivery methods. Efficient communication saves money and also boosts purchasing power. To stay competitive, you need to be intuitive. Intuition means that a message’s meaning and purpose can be conveyed with just one sentence or one word without any extra explanation. - Joseph’s “just my thoughts”

Just my thoughts #0132

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”

Just my thoughts #0053

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”