To Start a Successful Business: Where Would You Put a Gas Station?
I hate the almighty dollar. Oh, don't get me wrong. If you're giving some away free, I'm happy to lighten your load. But all the activities associated with the green stuff are a nuisance and bore me to tears!
Nevertheless, I once took a course in Economics. I learned a few things, one of which I'd like to pass on to you. We begin by introducing a hypothetical...
You have come into some money and wish to make it work for you. You're a pretty good cook, but you're aware restaurants experience a high rate of failure. You finally decide on opening up a gas station. Those seem to prosper pretty well.
But you want to place your gas station in a location that makes it almost certain it will succeed. You think and think about it, but are facing a tough decision picking the place.
What is one of the best choices you can make? Well, other than in placing it near a point of heavy traffic, you will want to put it at an intersection that already has three gas stations! What? Yes. Here's why...
When a place of business opens up, it is usually the first months that determine success or failure, that make sense? If you put a gas station on the fourth corner of an intersection, at the very least, you are likely to steal some of the other gas stations' customers. You will probably survive!
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