First, let me ask you a question: If you were an owner of a business that locate in a neighborhood such as Castro, what would be your plan to make sure that the business would not get shut down in 1 or 2 years? I would guess your plan would involve in some kind of heavy promotions so the business might “pop” out to other people right? If that’s correct, then I’m sorry to inform you that you still have to close down the business soon simply because you are targeting the wrong type of customers.
One of the main reasons why I mentioned the example above is due to the recent articles about how businesses in America are leaning more toward being local, rather than trying to become larger scale. To us, this is kind of like “anti- innovation” or some sort because why wouldn’t anyone prefer the idea of turning the current business into an empire over staying in a neighborhood while neglecting everything else. Base on the article “Keeping It Local” by The New York Times, the message the writer wanted to project to the readers was the importance of having connections from the community where we live and work with every day. Without a doubt, a typical customer could just come and go, but the loyal ones who value the products/ services that the business could offer would stay and support. Thus, the idea of “quality over quantity” becomes the core identity of the business. Think about it like this (gotta inform you that I’m really bad at making examples), who would you prefer to sell 100 grams of weed to: the guy who you have sold a lot of weed in the past for 100 bucks or the new kid who willing to buy it even if the price is 300 bucks instead? The obvious choice would the new kid but you then have to face the probability: would the kid report you to the police or not? Suddenly, 300$ (risky)and 100$ (safe) start to have some kind of hidden values that make them equal to each other more or less in some ways.
Ultimately, it is always going to be up to you to decide which business route to go. Through all the complicated decision- making processes, it would boil down to this: expand the business or stay with to the neighborhood as long as possible. Although I couldn’t give you a prediction of the outcome of your business, 1 thing for sure that it would be an interesting life journey for you.
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