Biz Tips: Build a Tangible Physical Business

Biz Tips: Build a Tangible Physical Business

GROWTH:

Build a Tangible Physical Business

Photo by Heidi Sandstrom. on Unsplash

A Fascination with Things I Can Touch

I hate businesses that need physical stores.

That’s what I used to think.

I am a sucker for online businesses, it doesn’t matter what type they are. They can either be service, subscriptions or products. In the new world, who needs physical spaces right?

But I use those spaces every day — restaurants, cafes, bazaars or groceries. Yes, they can use digital means to improve their businesses. But they’re not going anywhere soon. They will thrive, and they will continue to do business.

I step foot in a clothing store and still marvel at how they can make rent, pay people and still make a killing. A clothing store can easily scale thru build a Shopify Store and using FaceBook ads to sell.

But as my wife would remind me — women visit stores for the experience. They’re not just buying a dress or a skirt, they want to interact with the shop clerk, fit the clothing and then ask their partner if it makes them look fat.

When I sit down in a cafe I’m not paying for the coffee, I’m paying for the interior design, the service, the internet, and everything else I can utilize. I sometimes take this for granted and think that all I’m buying is a cup of latte, but it’s more than that.

I hate physical businesses cause I can’t create them. I don’t have enough capital to build them. But what if I did?

What if you have the money? Will you build an online store or a physical business? The barrier of entry is higher with a physical space, and it’s a different beast from an online store. But they’re not mutually exclusive, the skills you learn from both can transfer to one another.

I used to work for a real estate development company, it’s not as sexy as a digital startup. But it gets the job done. It starts slow, but when they customer started buying the homes, the money began to pour into our bank accounts. Real estate will never go out of style.

So I ask you, what type of business are you building right now? Try the opposite, if you’re into digital enterprises think about physical businesses and then vice versa. It will inform you the intricacies, and you shouldn’t box yourself into a corner.

Talk to you soon my friend.

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