Wednesday, April 23, 2014

Business dreamin'

     Free daily advice for people in small business
     from someone who has been there, done that.

     Today's leaders in computing technology and social media started small. So did the fast food chains--one outlet at a time.

     To get a business out of the garage and into the big time takes dreamin' and vision. Not all small businesses grow large.

     The ultimate size of a business depends on the vision of the owner. But the main constraint is the marketplace. Markets limit business growth.

     The same applies to your business. No matter how big your dreams, more important are the buyers of your goods and services.

     Example: Small cafes can specialize, attracting tradespeople looking for hearty breakfasts and lunches. Electricians, plumbers, construction crews, landscapers and others start their day very early. They represent a niche market in the restaurant business. Is there a chain of specialty cafes catering to these buyers? I'm not talking Starbucks here, or Burger King.

     Example: Gift shops can grow larger by targeting certain types of buyers. This plan serves the niche market that is full of up-scale buyers. A small gift shop can brand itself for this market. Fill the shelves with hand-made pieces from artists and artisans--these creative types are always looking for outlets. Then consider a second store in an appropriate town or neighborhood. You are on your way to possibly franchising your gift shop operation.

     Example: People will deprive themselves in favor of spending for their pets. It's a huge and growing market. True, there are national chains (both brick and mortar and on the Internet), but I suspect that the local pet store will always attract a loyal clientele. Owners of pet shops must stay on top of what's new and offered for pets--you can bet your customers will know. Or reach out to this market on the Internet. 

     No matter your business, you're only as big as your dreams. When you match your dreams to the available markets, you're on your way to solid growth. Just know that markets rule.

     Dreams. They are the stuff of small business.

     Questions? Email me direct at and put BLOG in the subject line.
     I am retired and I am not selling anything. Your privacy is always respected. 

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