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Location, location, location

September 16, 2009
cityhouse

Source: pointclickhome.com

What are the 3 most important conditions of a sucessful business?

Location, location, location. That’s what everyone tells me.

How true is it? Well, let’s put it to the test by going through a typical day as a business owner.

  • You drive to the office. Its tucked away in some obscure corner of the concrete jungle, away from busy thoroughfares where rent is inexpensive. Location: Not important.
  • You look for breakfast near your office. Location: Important.
  • You deal with your clients and suppliers by phone & e-mail. Their location: Not important.
  • You look for lunch nearby. Location: Important.
  • You drive to your appointment in the afternoon. Appointment location: Not important.
  • You drive home, don’t feel like going out for dinner and decide to order a pizza. Pizzeria’s location: Not important.
  • Before going to bed you log on to your online banking to pay your bills. Bank and service provider locations: Not important.

That concludes your typical day.

Lets see the score.

Important: 2. Not important: 5.

Here’s another way of looking at it. Transaction value at locations marked important: $20. Transaction value at locations marked not important: >$1,000.

The latter figure includes your salary, the value of goods and services you facilitate with the client or supplier, your online bills.

Yeah, the world has moved on. What’s location these days but a phone number or a web URL. Even your choice of those aren’t that important any more with browser bookmarkers and smart phone directories that let you rename your links and numbers any way you like.

So what are the 3 most important conditions of a sucessful business again? You tell me.

(Note: By location I mean a place of business you choose for logistics, not visibility. If its visibility you want, billboards might actually do a better job.)

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2 Comments leave one →
  1. September 19, 2009 1:23 am

    I was in Xi Tang near …er…donno where la. I think near Suzhou. It was quite a remote area and I was surprised that nearly every household has access to Internet and some of them even have web sites and online stores set up!

    Time has changed. Now, location doesn’t really matter that much anymore.

    Why is everyone going to China… hahaha. I was in Suzhou a long time ago on a tour with my parents. I can only remember the boat ride in the canal and some pagodas.

  2. September 19, 2009 11:40 am

    I didn’t even go there. My dad and I accompanied my sis n my mum to buy wedding dress. =_= And it rained heavily. Stranded. Didn’t go anywhere. =_=

    That’s called touring from the hotel room, haha!

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