3 ms·

> You open up a burrito/coffee shop next to him ISTR the article saying something like "located far enough from my store that he wouldn’t fear my competition."

TheOtherHobbes 9y ago
That may not help. The assumption is that Successful Business is successful because of the product it sells, and therefore if you sell the same product you will be successful too. Someone who doesn’t understand why this isn’t guaranteed or what the other relevant variables are probably shouldn’t be giving business advice.
ACow_Adonis 9y ago
Ok. But firstly, he/she doesn't fear your competition now, or when you open. Secondly, this seems to assume that his product is easily replicable, and that you'll be able to find some untouched environment in which to plonk yourself down and get free business. Far enough away from his store is likely in a position where there is no business. Plus we have a phrase for easily replicable businesses in economics: low barriers to entry. And they're exactly the kind of businesses that have the longest tails of miserable wages and miserable returns. What's more, because every man and his dog can do them, there is no untouched environment in which to plonk yourself down and you have competition from everyone. Those who invested in their skills over the long term, are talented, grow their skills, understand the market, get lucky, and/or used their privileged advantages wisely take the prime real estate/positions, and they thrive there. And for the most part, they do not care about some upstart newbie who thinks "making coffee/food is easy" opening up next door, any more than tom hanks loses sleep about all the wannabe actors turning up in LA. You move far enough away, and you lose out on all reasons that the original business person wants that position specifically. And if you're good enough to induce demand where-ever you set up, odds are its because you're good enough (probably through 30+ years of experience) to do so. By all means, imitate successful strategies. But my first advice is not some fantasy regarding being able to find a magical good-transmission person (how do you identify them with your lack of knowledge? How do you know the restraunter isn't barely making minimum wage or burning through his inheritance like so many I see around here despite big lines?) or a magical good-transmission-owning-consultant (again, how do you know one, all consultants will tell you they're good and will be willing to take your money as long as you pay them). No. My advice would simply be to find a couple of fields/skills, preferably ones that aren't looking like they're already going the way of the dodo already, and work your butt off getting good at them. If you think you want to run a restaurant/coffee cart, start working in restaurants, or as a barrister/roaster. If you think you want to run a transmission joint, go work in one. And if you want to turn it into a business, learn some basic economics/business on the side. Low barrier to entry businesses have the lowest expected returns, and every successful business is more complicated than it looks.

TheOtherHobbes 9y ago

That may not help. The assumption is that Successful Business is successful because of the product it sells, and therefore if you sell the same product you will be successful too. Someone who doesn’t understand why this isn’t guaranteed or what the other relevant variables are probably shouldn’t be giving business advice.

ACow_Adonis 9y ago

Ok. But firstly, he/she doesn't fear your competition now, or when you open. Secondly, this seems to assume that his product is easily replicable, and that you'll be able to find some untouched environment in which to plonk yourself down and get free business. Far enough away from his store is likely in a position where there is no business. Plus we have a phrase for easily replicable businesses in economics: low barriers to entry. And they're exactly the kind of businesses that have the longest tails of miserable wages and miserable returns. What's more, because every man and his dog can do them, there is no untouched environment in which to plonk yourself down and you have competition from everyone. Those who invested in their skills over the long term, are talented, grow their skills, understand the market, get lucky, and/or used their privileged advantages wisely take the prime real estate/positions, and they thrive there. And for the most part, they do not care about some upstart newbie who thinks "making coffee/food is easy" opening up next door, any more than tom hanks loses sleep about all the wannabe actors turning up in LA. You move far enough away, and you lose out on all reasons that the original business person wants that position specifically. And if you're good enough to induce demand where-ever you set up, odds are its because you're good enough (probably through 30+ years of experience) to do so. By all means, imitate successful strategies. But my first advice is not some fantasy regarding being able to find a magical good-transmission person (how do you identify them with your lack of knowledge? How do you know the restraunter isn't barely making minimum wage or burning through his inheritance like so many I see around here despite big lines?) or a magical good-transmission-owning-consultant (again, how do you know one, all consultants will tell you they're good and will be willing to take your money as long as you pay them). No. My advice would simply be to find a couple of fields/skills, preferably ones that aren't looking like they're already going the way of the dodo already, and work your butt off getting good at them. If you think you want to run a restaurant/coffee cart, start working in restaurants, or as a barrister/roaster. If you think you want to run a transmission joint, go work in one. And if you want to turn it into a business, learn some basic economics/business on the side. Low barrier to entry businesses have the lowest expected returns, and every successful business is more complicated than it looks.