Location, Location, Location! How It Affects Your Business

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We have to consider a lot of things when we start a business. The location of that business, of course, is one of the biggest factors you need to consider. But a lot of people don’t give it quite the attention it deserves. Many people don’t even think it applies to them, especially if they’re working from home. But location affects every business, regardless of the way it’s run.

So you need to think carefully about location. We’re going to look at a few of the ways that location affects your business. I know what you’re thinking: you already know how location affects business! And it’s true that there are some very obvious things that come to mind almost immediately. The number of potential customers in that area, of course, is a crucial factor. Your proximity to competitors will affect the demand in that area, too.

But we’re not going to talk about those obvious factors here. Let’s take a look at some things you may not have considered quite yet.

Location, Location, Location! How It Affects Your Business

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Employees

A business is dependent on the performance of its staff. So you need to ensure you can get the best employees you possibly can for your line of work. Of course, if you’re out in the middle of nowhere, that’s going to be difficult to accomplish. Even if you’re somewhere busy, you might not be in an area with the right demographic. Let’s say you need some tech wizards. If you’re not in a modern, tech-driven city, that can be difficult. Can the work of your business be conducted remotely? In that case, look into hiring remote workers. This can help you overcome location difficulties when it comes to recruitment.

Prestige

People can get a little uptight about who they do business with. This applies to both customers and potential business partners. If you’re not in a bustling city, then they may assume that you’re not a worthwhile business. This isn’t exactly fair, of course. But it’s undeniable that a business in New York City or London has more inherent prestige than businesses in other areas.

Location, Location, Location! How It Affects Your Business

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SEO

This is something you may not have considered at all. Of course, if you haven’t heard of SEO, then it’s possible you’re already making some business mistakes. Your website is crucial to your success, and SEO is crucial to the success of your website. Where you’re located can actually affect your SEO – which is something not a lot of people are aware of. Location has become even more of a factor after the recent Google Possum update.

Suppliers

Most businesses out there are going to need some sort of equipment. It might be for the tasks the employees have to fulfill. It might be the products you want customers to buy. In any case, you’re probably going to have to get things delivered to you. Your location, of course, affects the feasibility of this. It can be the difference between getting something for a great price and having to pay egregious fees for it. This ends up affecting both your overhead and how relevant your business is in the marketplace.

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