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What are the major pitfalls to creating a successful business?

Choosing an inappropriate location for the type of business probably is the worst pitfall.  Opening a Marina on a lake that doesn’t allow boating is a good example.

Selecting a building storefront that is not appropriate for the business ranks high also.  A surgical center housed inside a log cabin fits this class.

Customers have to know where you are and what you do to become customers; in other words, advertising.

Selecting a location where people cannot see your sign is terribly inappropriate for most businesses.  Businesses survive by attracting customers. Even a lawyer is better off with a visible location than on the 16^th floor of a high-rise office building.

The least expensive form of advertising, judged by ANY method, is the number of customers that see and understand your signage.

Therefore visibility from a busy traffic location is of prime importance.

The amount of traffic your immediate business neighbors will attract is very important also.  Locating in busy shopping centers is best.

The more signs you have the better your chances these potential customers will see your business are.  The look and size of your signs is critical.

Some streets have much more than 250,000 cars drive them every day; 1.6 people in every car on average, 18% of these people move each year, 25% of the traffic on every business street does not normally drive on that street*.  Lots of potentially new customers, always; but your signs and storefront must attract attention, and be appealing.

The signs and storefront must continue to attract attention and remain appealing 15 years or more from now.  A positive image is everything; sign quality matters.

A major pitfall that causes many once-successful businesses to fail is that their signs and storefront continue to attract attention, but no longer look appealing, or worse.  Have you noticed that virtually ALL of the major retail chains have a policy of store-remodeling and signage refurbishment every 5-7 years?

Viewed by this perspective, money spent on drive-up appeal is the most effective investment you will make.  The building (wall) signage is the most important (and necessary) in attracting customers.  Digital LED signs (message centers) garner the most attention, increasing business volume the most, but they do not replace storefront signage.  Pole (pylon) signs are next in increasing store volume.  Monument (ground) signs next.

Need to upgrade the image of your location?  In the consumer's mind the image of your store IS your signs.  Because the image of a business, church, or school is it's signs, a LED Messaging Sign instantly gives potential customers a modern up-to-date image of your business!

Finishing-out an interior so that it is not appropriate to the type of business usually spells disaster.  A jewelry store with jewelry scattered on wooden tables is inappropriate.  A wealth-management office furnished with folding chairs and card tables is another example.

But even with all this planning, not serving the customer’s needs always causes a business to fail.

* United States Small Business Administration (SBA) figures.

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