- How to make a business contract
- How to manage working capital
- How to identify risks & challenges in business
- How to make teams more customer-oriented
- How to do internal audit
While location plays a role, it would be wrong to say that it has a major impact. Of course, some cities get funding more easily and some others may have to struggle a little. Besides that, you can’t really rely on your geographical location when it comes to growing businesses.
Here are two very important things that you should know:
Growth Does not Cluster
It is a popular belief that growth always comes to industries that are in clusters. Sure industries do cluster but the growth of each industry does not depend on it at all. Being located in one particular place will not guarantee you anything. Sustained companies today have been found to have branches in various different locations.
Please note, thus, that while it may help your case when it comes to funding, being in the supposedly best city for business in the world will also not guarantee success or anything else for that matter.
You can Attract Young Professionals regardless of your Location
Another myth is that young talent is attracted to offices located only in certain areas of the world. There may be more bachelors in some cities but that does not by any means insinuate that only these regions are the best for setting up a business. Youth is well concentrated in many parts of the world and thus, you shouldn’t concentrate only on a couple of regions in your country and be worried if you are not able to set yourself up there.
These myths along with a few others have scared many startup founders about the geographic location. The bottom-line is that how you run, operate, and market your business will determine your success. The geographic location barely plays a role anymore and there is no need to worry about it either.
Concentrate on your business and set it up well. Success will come.
It is time to get over the worry of geographic location while setting up a business because the location doesn’t play a very important role today. What you put into the business is much more important than where you are located.
Image courtesy of [samuiblue] / FreeDigitalPhotos.net