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Friday, September 12, 2008

Creating New Competition

I was speaking with a bank officer today and he mentioned to be careful when talking about my business with Chinese, since if it's successful many would just copy it. I have seen that here, where a friend's Taiwanese restaurant had a competitor open right next to them with basically the same menu. The competitor finally went out of business, but it was not fun (I was surprised the plaza management would allow a competitor to do that, but the comment from our friend was all they cared about was the rent).

My opinion is there are already a lot of people selling what I sell, but what really matters is providing value to your customers. Simple idea and common sense, but actually making it happen is not as easy as it seems... I have been doing ChildBook for 10 years and every day still brings new surprises, and I am constantly learning. That's another reason I enjoy running my own business, it's challenging and makes me think all the time!



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