Small Business Model

A series of entries exemplifying the steps an entrepreneur takes from starting a business to selling the operation. It is a step by step process addressing the multitude of business concepts every small business owner must face. This is a 6 year example from Day 1 to the day the owner receives a check for selling his business. Read this series as if it you were experiencing all of the trials, tribulations and joy of owning and operating a business.

Small Business Model Series Entry #7 – Location, Location, Location

Location Location Location

The e-mails keep coming.  A few days ago I asked my friends and family to be on the lookout for ATM’s.  I describe the difference between a bank owned ATM and an independent ATM.  I was strictly interested in the independents.  I wanted to know exactly where the ATM is located, the name of the business, and what kind of business.  With this information I am tracking the locations using a spreadsheet and a map with push pins.

Small Business Model Series Entry # 5 – Whew!

The article explains that I really need to break my thoughts down into the ‘who’, ‘what’, ‘where’, ‘when’ and ‘how’ of doing this.  Based on my thinking so far, I’ve completed the ‘who’ and ‘what’ parts.  So I’m actually on the right track here working on the ‘Where’ aspect.  I decided to follow the article’s suggestion of jotting down my thoughts to date on a legal pad. 

Small Business Model Series Entry #4 – Basic Research

I spent a lot of time on the internet researching the industry as a whole.  There are about 220,000 machines in the US that are owned by non-banking companies and individuals.  So my first thought is that this is about 1 machine per 1,000 individuals (there’s about 220 million adults in the US/220 thousand machines and you get 1,000 adults per machine).

Small Business Model Series Entry #2 – Narrowing the Idea

Narrowing the Idea

This entry is part of a series of entries exemplifying the steps an entrepreneur takes from starting a business to selling the operation. It is a step by step process addressing the multitude of business concepts every small business owner must face. This is a 6 year example from Day 1 to the day the owner receives a check for selling his business. Read this series as if it you were experiencing all of the trials, tribulations and joy of owning and operating a business.

Small Business Model Series Entry #1 – Getting an Idea

So that’s it, I’m going to go into business for myself.  I want to own and operate a business of some sort and make some extra money.  Who knows, I could be the next Warren Buffett.  At age 27, I’m still young enough to have the energy to do the physical part and mature enough now to know that I need the guidance of others to help me.  But what do I do?  I need an idea.

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