Important Points in Business Planning: Location
There is something that is very important in any project we intend to start, and it is undoubtedly a point where many fail. And that beforehand it can be said that there is no clarity about what is being pursued. Perhaps it has to do with that current characteristic of wanting everything quickly, and skipping some processes, but, maybe some people are lucky enough to achieve what they visualized without a previously conceived plan, but the truth is that planning is essential in most projects, How could we define it?
”Is the fundamental management function, which involves deciding beforehand, what is to be done, when is it to be done, how it is to be done and who is going to do it.” Fuente
It's a very basic and simple concept, at first sight, but I particularly think it's one of the main causes of failure in any venture. This is what allows us to put down on paper where we want to go in the future with what we are starting. Many times not enough time is dedicated to this and the problems or difficulties that could be foreseen at the time of planning, are presented and come as a surprise, and could slow down the reaction for its solution or even worse not even see it coming.
I'll give you an example:
For my current area of work, which is the hardware store sector, I have customers who are doing very well in their business, and for this reason some family members to see that your business is prosperous are going to open a similar business elsewhere, so without thinking much, in the first place they get, and it happens that as months go by they do not do as well as expected despite having a good assortment in their local, that if they do not sell is not a lack of some product, then ?
Luckily I can see these processes, and draw some conclusions, and one of the reasons why they are not doing well is Business location. This issue is important to keep in mind, in fact it is vital, at least for this type of business that is personal customer service.
This location thing might seem silly, and if it is not considered when opening a business it could mean that this business is a failure. **No doubt.
I have seen it, businesses that have closed because they failed in the beginning, many times there is no proper planning and it happens. But, I have another example of when things are well planned before taking action, I have had a client for approximately 18 months, who finally when I was able to approach her and I was able to get her to place orders, they were not large amounts, but after a few months she told me that she and her husband were located there because in the front they were making some apartment buildings that they would deliver in 16 to 20 months, that they were waiting for that to happen so that they could make a greater profit from their business, and it happened. Three months ago they began to deliver the apartments that my client had told me about, and she has obtained a great increase in her sales, and of course the orders that she currently makes to me are greater, at least 200% more than what she asked before.
It's a hardware store, and when they deliver the apartments they have to accommodate them, put in ceramics, arrange the kitchen, bathrooms, all that, so, this was a very well thought out strategy, which started with good planning... don't you think?
I have commented on this on several occasions, this is not the area in which I trained academically, it has nothing to do with it, but the truth is that due to the conditions of life I have had to take on this job, which I appreciate, because it has allowed me to learn a lot in terms of business.
For now I'll say goodbye, thank you very much for your reading.
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Businesss location is very vital in business. Before you set up your business, make sure you carry out your feasibility study, it is very important.
Yes, I could see the importance of this in business. It's vital, literally.
It is very important because a strategically located business can exploit the benefits of the place, I have seen this in several episodes of gas monkey, and where they take advantage of the geographical location of workshops that wsra on the edge of a highway, attracting an impressive number of customers who going through the highway, they see the shop announcement and obviously scare and become customers.I agree with you, the planning and location of a business is im very important
I don't know what you mean when you say "gas monkey," but I imagine it must be something that adds value. I've learned some new things, with this job. But yes, it must be part of the strategy when you want to undertake.
Thank you for commenting.
gas monkey is the name of a TV show, where experts in auto workshops, rescue workshops that are bankrupt, they finance them and tell them everything they have to do p improve and have a productive business.Of course in exchange for a % in shares of the business
They say location is the mantra of business, meeting the right crowd turns your fortunes around, but this is a herculean task.
Si, muy difícil debe ser encontrar ese lugar indicado. Sin un lugar indicado, por muy surtido que esté el negocio no va a prosperar.
You are absolutely right, a good location is key when starting a business, for example, I have my boss who is currently in an area called EL PERDOMO and her business tries to sell candy wholesale and retail, her main customers are students, informal vendors and of course people who sell inside the schools, so it is one of her strengths (THE SCHOOLS). Obviously, when she thought about starting a business, she looked for a way to be well located and fortunately she was able to do it. There are several schools around her and of course that helped her grow a lot. Although it was not easy, she did it!
@tipu curate
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@josevas217 location is the most important factor in every business. Big international firms look for good and cheap location to give the best competitive price in the market. Which help in growth and development of the company.
This aspect of business planning lost a little bit of importance due to the nature of new businesses that are based only on the internet. But it is crucial for any business that wants to thrive out there in the streets.
This aspect of planning, as you say, but even the number of traditional businesses is large, should not be neglected the location.
I agree that online businesses are now many more, and booming. You got me thinking about the future of traditional business @diogosantos.
Thank you for comment
While setting out a business type the type of location can be easily ignored but certainly it will come back to hunt the business.
A good location is the bed rock of every business, no business is going to make any good improvement if it is situated in a bad place.
Yeah, I think so too. It's a must for a business to thrive.
The location of one's business can really affect the sales of the business depending on the demand and supply of goods. This is why it is important to always engage in a proper feasibility and viability studies about how one could sell his or her products in one's location depending on the consumer tastes.
Thanks for sharing this great post with love from @hardaeborla and I hope you have a great day ahead
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This is certainly the case, and a good study cannot be omitted.
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