The Location
Today I will talk about another important aspect of business and business plan. Business community is never tired of repeating "Location....Location...Location" and I totally agree with them, "Location is everything!" However, we are a "Virtual" company, so I cannot give an named locations, but I can describe what an ideal location can be.
Business Startups of technological nature are usually born in "incubators", which are generally supported and built by states, universities or private organizations to promote entrepreneur. These self contained incubators provide necessary services like conference rooms, videoconferencing facilities, secretarial services, office space, storage facilities, shipping & receiving, and most important shared lab facilities. Our business involves affixing RFIDs to vehicles and tracking them, using RFID readers. For this purpose we need a large test area and incubators can provide us this area at a nominal cost. If you recall my earlier post about working capital, we can save lots of working capital by starting the business in an incubator.
Incubator is an excellent place to start a business, but business grows and when it does, it needs a place and resources of its own. Ideal location is always decided by the nature of business. In our case, a perfect location would be in a large city, but somewhere in mid town, with reasonable access to airports and highways, access to large open space, close to housing complexes, eating joints and other professional services. All these factors help in easy client and employee access which is crucial to any business.
Business Startups of technological nature are usually born in "incubators", which are generally supported and built by states, universities or private organizations to promote entrepreneur. These self contained incubators provide necessary services like conference rooms, videoconferencing facilities, secretarial services, office space, storage facilities, shipping & receiving, and most important shared lab facilities. Our business involves affixing RFIDs to vehicles and tracking them, using RFID readers. For this purpose we need a large test area and incubators can provide us this area at a nominal cost. If you recall my earlier post about working capital, we can save lots of working capital by starting the business in an incubator.
Incubator is an excellent place to start a business, but business grows and when it does, it needs a place and resources of its own. Ideal location is always decided by the nature of business. In our case, a perfect location would be in a large city, but somewhere in mid town, with reasonable access to airports and highways, access to large open space, close to housing complexes, eating joints and other professional services. All these factors help in easy client and employee access which is crucial to any business.
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