Sharing Daily Discoveries About Personal Finance And Business Topics

Learning From The Inside of An Industry

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Recently a person was talking to me about his dream of starting a business where funding would obviously be an issue. He pretty much had his plan in place and wants to be unique. Based on his field of choice I started to mention how other people in his industry are doing things that he should look into. The funny thing was he actually knew a lot of those people as apparently they all came from the same associations I guess you can say. However, he didn’t agree with their approaches and began to give examples why.

It’s interesting in the sense of I only know what I read based on what the company puts on things like their website. This person though pretty much knew everyone’s background. In learning all of that it’s very true too on how many times people in the same industry can know a lot where to them it is a big deal but for those on the outside we don’t know nor do we usually care as long as they are providing whatever it is in a good way.

Some of these details can be things like how an owner does things purposely to get repeat business as they want to make a customer keep paying as along as possible. I still remember even from a martial arts school I attended before where the many businesses disliked each other and knew what others did to get ahead. For example, a business constantly voting for themselves to win one of those “best in the city” awards.

Of course you always have to consider if one is just saying bad things because it’s a competitor. But even as a regular consumer you can often learn so much to ultimately decide if what they are offering is good value for the money.




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