In our town, a common practice has been for out-of-state tycoons to start businesses based on business models that they have used to succeed in other regions. "We've been successful, and we'll show these locals how to succeed."
In almost every such case, those businesses have either failed or have not reached expectations.
This model is common. We want to trigger success in a town, so we bring in successful outsiders to share their vast experience. Sometimes it works. But often it feels like a sandwich that combines peanut butter and tuna. You can't necessarily overlay one strategy onto a mis-matching situation. Someone that succeeded in the ice cream business won't necessarily replicate that success in Antarctica.
The new model, conversely, identifies local successful outliers who have succeeded. They succeeded under the same conditions, so they can show how to succeed again in those conditions. We replicate their style of business because it works here.
In almost every such case, those businesses have either failed or have not reached expectations.
This model is common. We want to trigger success in a town, so we bring in successful outsiders to share their vast experience. Sometimes it works. But often it feels like a sandwich that combines peanut butter and tuna. You can't necessarily overlay one strategy onto a mis-matching situation. Someone that succeeded in the ice cream business won't necessarily replicate that success in Antarctica.
The new model, conversely, identifies local successful outliers who have succeeded. They succeeded under the same conditions, so they can show how to succeed again in those conditions. We replicate their style of business because it works here.
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