Very good article!
The idea here is to make sure you understand your customers' needs. Many times business owners want to change the culture of the people they serve by introducing products and trends that are not a good fit with their community instead of adjusting to their needs and providing a service they really want. You'll have tough time paying your bills by selling bikinis in Alaska.
Well, there goes my bikini stand in Juno!
On that note, what happens if you have a great idea for the area, that fits the community and it just busts? What went wrong?
Good article. First you should investigate the need for your product or service to fit into the community.
How big is the market for your product or service?? Will you meet the needs of customers??
Who are your competitors in the community??
The fact that a relative or friend of yours is making a success of their career or business does not mean that you can develop and succeed in the same business.
My favorite true story (when I opened my business) was to sponsor the local little league. Not only was it great advertising, the boys and girls had my business name on their t shirts all summer long, it was great for me and the community.
I was going to say the same as Lucky, if you have done your research, developed a business plan and marketing plan, then you have a better chance of success.
Sure even then failure is possible, some people are just not made to be business owners, personality or what ever. I mean who wants a miserable, grumpy, bad tempered introvert as a Children's Party Clown!
In reply to Rene, yes, I take your point, but sometimes business needs to metamorphose to survive, think of the blacksmith. They see a change coming in the community maybe before the community is aware of it.
As a business aiming to make money they have to be proactive and take the lead or risk becoming a dinosaur.
Other examples are the washing machine, fridge, colour Tv, cell phone!
Our grandparents made do without these things, can we?
So sometimes the community needs outside forces to drive it forward.
But yes, meeting needs is what it is all about, as I have posted elsewhere.
I totally agree with you . For example, there is a restaurant in town that is very successful. But it didn't start out as a a restaurant. First , the owner had opened a nice little shop full of fun things to see and buy, such as candles and throw rugs and little wall signs with clever sayings on them. Down the line she opened an ice cream window during the summer, which morphed into drinks and hot dogs... then hamburgers. Today one would never know what the original plan for that shop was as they savor their chicken parm and sip their NYS fine wines. She met the needs of the people in her area.
What goes into planning for a new business in your area? Is making it a good fit for the community a top priority to you?
Would love to hear your thoughts!