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”
The most difficult clients to consult are those who are simultaneously greedy and fearful. They don't take action because they strongly believe in their ideas, but on the other hand, they are overwhelmed by fear and don't trust the consultant's advice. It's a very exhausting life. - Joseph’s “just my thoughts”