Localisation – The Next Frontier in Business

Anyone who chooses to go into business may feel that they do so because they’ve found their calling in a specific market or niche, but what’s actually going on is that your calling is the entire process of all things to do with business. Entrepreneurs in particular often grow into serial entrepreneurs as a result of the business process igniting their passion, but we should never forget that ultimately it is about the money, no matter what anyone says and no matter what we’d rather believe.

So if you know that you want to get into business or that you want to become an entrepreneur, or indeed if you might want to expand on your existing business endeavours, you may find yourself short on ideas. It happens and don’t let it get you down, especially since documented business convention tells us that you should first find a gap in the market and then try to fill that gap in a manner which generates profits for you. The only thing wrong with that way of thinking is that if it was that easy, everybody would be a self-made, successful business person by now.

The real gold which lies within that mantra is that once you get going and set yourself along just one business path you’ve identified, even if that turns out not to be the correct path in the end which will bring you success, there are a lot of lessons to learn from the process. Most successful businesses as they exist today look nothing like what they were described in their corresponding business plans. As you go along your path you discover a better way to perhaps do something you set out to do a certain way, or you discover a new path to take altogether.

But going back to having no idea just exactly what it is you’re going to be doing as part of your business endeavours, a really good place to look is that of localisation. That I truly believe is the next frontier for business.

It’s quite a beautiful paradox because this next frontier of localising business is essentially a result of all which globalisation has given us. By localising business what I mean is bringing products and services as close to their buyers as possible, best achieved through building up channels through which you can access those products and services within a matter of hours.

If a thousand of your neighbours can have a loaf of freshly baked bread delivered to their door for example, why on earth would they go out and drive a bit to get their daily bread? That’s perhaps an extreme or maybe even an overly simplistic example, but the principle is demonstrated quite clearly.

If you can source the latest iPhone to come out for instance, perhaps using something like a same-day delivery service to have one delivered right to your local outlet in your neighbourhood, your local community members will definitely buy from you as their closest supplier.

The business world is your oyster if you can find a way to delve right into the next frontier in business, which is localisation.

Colin Shaw
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Written by Colin Shaw

Colin has been in the finance market for over 20 years and specialises in best business practice to make an organisation profitable. The only man for the job when it comes to numbers and accounts with a keen talent for simplifying finance for the wider market.