This Week’s Best In Beta
Which startup is going to be the next big thing? Investors, bloggers, job seekers, and inspiring entrepreneurs everywhere are dying to know. Hundreds of startups enter private beta each month, and that’s far too many for any one person to keep up with. Fret not! Each week, I share some of the hottest new startups in this column, Best In Beta. Let’s discover the next big thing together!
It breaks my heart when I see an attractive restaurant open in the wrong location in my neighborhood. Doesn’t matter how good the food is, what type it is, if the service is excellent… I know it’s DOA because of the spot it’s in, and I wonder what the owner was thinking.
Just off the main street? Not good enough. The food is so good people won’t mind walking five blocks to the nearest parking? Sorry to break it to you, buddy, but the dragon eats the knight at the end of that fairy tale.
I don’t mean to sound harsh. It’s just that having worked in the service industry many years, I learned well how much location matters. Certainly the same holds true (if not more so) for retailers looking to open a brick-and-mortar store.
My sympathies go out to such businesses. Deciding on a retail location must be an incredibly difficult, with so many factors to account for – customer behavior, the neighborhood’s composition, other nearby businesses, just to name a few.
Simply put, there’s no room for error. To compete with online retailers and to justify the cost of opening doors in the real world, the business needs to be in the perfect location.
Data intelligence for the assist. More specifically, location intelligence. Insightico is service that helps retailers find the perfect space to open a store. Demographics, household income, traffic data, business data – Insightico takes all these considerations and more into account, saving business owners the time and money that would be spent on such important research, not to mention, the agony of making such a huge investment only to fold due to improper positioning.
No impulse openings, please! Just because a spot you’ve had your eye on is now available doesn’t mean you should rush to grab it. Likewise, don’t do your brilliant business the disservice of setting up shop where it’s likely to fail. Get smart about choosing the best spot.
Check out getinsightico.com to learn how their location intelligence can help you make that all important decision.