Monday, August 15, 2011

Small Business Planning?

Just recently a small business moved in next door to my shop. This business is typically a type of business that does well only during a good economy (which we are far from), and takes spending A LOT of money to get it running. The other Major thing in this type of business is Location, Location, Location.

The building they are moving into does not have enough space for what they are putting in it. It is a retail style store and there is not enough walking room for customers. They are so far removed from the major traffic of customers and clientele that would be purchasing this particular product. These businesses usually thrive better in downtown areas where there is a lot of walking traffic. Here there is none. So I began to think that maybe he has a website where he is getting a lot of traffic.

Well before I go there, let me tell you that we have spent thousands of dollars on our web page to make it work and reach people looking for us and our products. This company is using a blog. Not only are they using a blog, but it is very poorly done (not that mine is done well, but I am not advertising here).

I say all of this to say that you really need to research what your business is and what business models have worked before spending your money. Needless to say, I believe that the building will be available again in a matter of two to three months.