Comments on: The #1 Way to Fail in Business: Ignore Your Market

By: Martin Lindeskog

Martin Lindeskog — Sun, 20 Apr 2008 21:18:23 +0000

We have listened to the market and found a need for a “third place”, but the location of our business center was not optimal and it took longer time to reach out to the potential customers than we had anticipated. Now we will learn from this and change accordingly. We will in the future cooperate with already established firms, e.g. coffee shops or business hotels with office space, wanting to add value to their business with our Blue Chip concept.

By: Chris

Chris — Fri, 18 Apr 2008 18:03:01 +0000

I liked the example that Gary provided regarding the gentleman who wanted to open a Quizno’s in a rural area – because HE wanted a Quizno’s nearby – without considering that the demand for a Quizno’s was sparce. I see this all too often even in my own local area. I feel for these people that open coffee houses and the like in areas where the demand for that type of establishment is low. There here for a year or so – then poof! Gone.

By: Amanda

Amanda — Thu, 17 Apr 2008 16:36:35 +0000

Gary answered a lot of questions that I have always wondered about. He makes good points and gives reasonable tips. I myself have always wondered how the market has room for all of these dollar stores. I have 3 in my town within a mile of each other. The last one that just opened is not doing so well and I don’t see it lasting very much longer. The other 2 are larger name stores and this is a small self owned store. Obviously they didn’t consider how the larger 2 would affect them.