3 Economic Professors 1 Rented Motorhome = The Holy Grail of Small Business Success
Three economic professors set out on a journey heading south of San Francisco to find out how small American businesses found their niche to success. I will present to you as "Lessons Learned" from their journey in a series of quotes that every small business should take note of:
Economic principles taught in classrooms don't just apply to Silicon Valley startups and Fortune 500 corporations.
Everyday Americans are making economics work for them
Product differentiation is the key to helping your small business to stand out in a crowded commodity market where you have to convince your customers to pay more to survive.
You have to have control over your product pricing.
Down the vertical chain of your business can be the answer.
Build a grass-root campaign selling directly to consumers at farmer's markets, expos for example.
Advertise, build up hype of your products.
Make sure your products are sufficiently distinct keeping your target market in mind.