Decisions define your business curve
Krish has a family property of 4800 sqft of land in a busy area of the city. Krish's grandfather got that property long time back and it's value is really zooming up now as the area is much developed with all the facilities. It is very very tough to get a piece of land in that area now.
Krish wants to grow the property. He wants to add more value into it. He received different advices from his near and dear. Most of them asked him to hand over the property to construction builders, as the market value of that land is very high. Some of them asked him to start a business of his own there. Better idea!
What business can he start in that area? Ideas are poured on him from advertising to retail. Krish is very much confused now!
One Sunday evening, Krish went to see his land as he usually does. He has made some precautions for his land so that nobody is spoiling it. The area was very busy. Due to the presence of various kind of shops, big and small, people used to throng that area during weekends to buy things.
All kind of businesses like clothing, footwear, restaurants, all sorts of retail are setup in that area. This created more choices for people to select their things in a cost effective manner in addition to good quality.
Krish was amused to see that much crowd in that place! He heard a hush in one place where two persons fought with each other. Both have cars and they are fighting for parking space. One can think of how difficult will it be to park a car in such busy area.
Suddenly an idea sparked in Krish's mind: "If I start a shop here, I need to compete with all existing businesses. Why can't I select a business which has less competition?"
He happily returned home with all business plans to execute. Can you guess what he is going to do with his land?
"A Multi-Level Parking Lot".
Krish wants to grow the property. He wants to add more value into it. He received different advices from his near and dear. Most of them asked him to hand over the property to construction builders, as the market value of that land is very high. Some of them asked him to start a business of his own there. Better idea!
What business can he start in that area? Ideas are poured on him from advertising to retail. Krish is very much confused now!
One Sunday evening, Krish went to see his land as he usually does. He has made some precautions for his land so that nobody is spoiling it. The area was very busy. Due to the presence of various kind of shops, big and small, people used to throng that area during weekends to buy things.
All kind of businesses like clothing, footwear, restaurants, all sorts of retail are setup in that area. This created more choices for people to select their things in a cost effective manner in addition to good quality.
Krish was amused to see that much crowd in that place! He heard a hush in one place where two persons fought with each other. Both have cars and they are fighting for parking space. One can think of how difficult will it be to park a car in such busy area.
Suddenly an idea sparked in Krish's mind: "If I start a shop here, I need to compete with all existing businesses. Why can't I select a business which has less competition?"
He happily returned home with all business plans to execute. Can you guess what he is going to do with his land?
"A Multi-Level Parking Lot".
posted by Balaji R at 8:10 PM
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