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Just my thoughts #0323

Netflix initially started as a DVD rental service and grew, but it soon encountered a crisis with video streaming technology. Nevertheless, it wasn’t feasible to abruptly abandon the existing business and transition to a digital distribution model, highlighting the significant conflict involved! Video streaming technology is not a complementary service to DVD rental; rather, it serves as an alternative. When expanding or improving a business, it’s crucial to clearly understand the defining attributes of the target product or service. Burgers and french fries complement each other, while burgers and chicken sandwiches are substitutes. - Joseph’s “just my thoughts”

Just my thoughts #0206

As the chef gained fame through broadcasting, restaurant profits actually fell. One would expect higher profits with increased fame; yet, the opposite occurred. The restaurant’s original profit model relied on multi-course meals, but the broadcasts focused on just one or two popular dishes. While customer numbers surged, the average price per order decreased. Additionally, costs associated with running a restaurant have risen due to the influx of patrons. The influence of social media is leading to an increasing number of celebrities; yet, their true feelings can be quite complex. Achieving fame can be surprisingly detrimental. - Joseph’s “just my thoughts”

Just my thoughts #0170

The Japanese restaurant “Hyakushokuya” doesn’t hire passionate people. The first recruiter was someone who left his resume out. There are only three menus, and only 100 bowls are sold daily. It’s simple, so you can learn things in a week even if you’re not an expert. Still, the average daily revenue is 130,000 yen. The book titled “Let’s Reduce Sales” by founder Akemi Nakamura addresses performance-oriented management policies. They want reasonable management activities suitable for fractions without overdoing it. However, it was the best-selling company during the COVID-19 pandemic crisis. - Joseph’s “just my thoughts”

Just my thoughts #0152

The founder of the guitar company Fender, Leo Fender, said he has never played the guitar. Depending on the nature and characteristics of the business, we must think differently about our confidence in it. For example, it is our prejudice to believe that a famous chef won’t be ruined if he opens a restaurant. The more important priority in business is the ability to grasp the essence than having a career. - Joseph’s “just my thoughts”