Sage Advice 38: Effective Business Solutions

I’ve talked about business on Sage Advice before, so I figured I’d offer some more information on the topic based off some of my personal experiences. Placing your business in the right location can be key to successfully hooking and keeping customers. There are all kinds of things to consider. Is there parking? Is the surrounding area saturated with competition? Is it illegal to build on Indian burial grounds if you promise to reenact the tribe’s rituals on a weekly basis? Is it unethical to claim the land supporting a children’s hospital under imminent domain?

It’s not nearly as easy you would think, but I do have an excellent example of a great business doing this kind of thing right. In a local mall in my hometown, there once stood two calendar stores. I’m not talking kiosks, the cross-eyed, possibly autistic cousin of mall stores. I’m talking full-on stores. Did you notice the plural? Stores. Yeah, more than one. And did you read what kind of a store? A calendar store. You know, those things people stop buying when they realize they can just remember the date or they’ll generally be near someone or something that can do that for them.

The mall had two of these bad boys. One for each floor. I’m not sure about you, but when I see the calendars at the front of the already failing bookstores in malls, I think, man I wish I could get this in a store dedicated to keeping time written on pages of paper with pictures of kittens.

Well, the mall did just that… twice! What better way to have a store with inventory that is guaranteed to go out of date on its own, self-imposed timeline than to have two stores that do that exact thing. If ever there was a business model to mimic for aspiring entrepreneurs, it would certainly be the one that creates two stores of a useless product within proximity of each other.

Sincerely,

-Matthew Fugere

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