Competition

Learn about the importance of competition and how important it is to learn from them and ignore them at the same time.

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).

Research Your Business Plan – Part I

Business Plan

If you read my section on ‘Do I Need a Business Plan’ and followed those steps, you are now ready for the next step in this process.  Hopefully two important barriers have been breached in your quest to be the next new business.  First, you have answered the most important questions of who am I and is this what I truly want to do.

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