Guest post by Micah Lorenc Let’s talk about a topic that’s commonplace in business schools, but not as familiar to rural small businesses. I’m talking about Sunk Costs. I recently had a conversation with a close friend who is pursuing a new business opportunity, building a gym in a small, rural town in Southern Utah. […]
Why do people say there’s nothing to do here then not come to our concerts?
Let’s look at the tale of two small town concerts. Concert 1: We’ve done all the work, you just need to show up! One happened at an agritourism business. They brought in a couple of professional musicians for performances out at the farm. The musicians were reasonably well known, with some previous exposure on […]
Shipping container businesses downtown: don’t make this big mistake
Lots of big cities have started shipping container business villages. I love the idea. But many of them are making a huge mistake that I don’t want to see small towns copy. The Big Mistake: Ignoring the street My friend Carlos Moreno of Tulsa, Oklahoma, pointed this out. Here’s a picture of the Boxyard in […]
Time management: knowing what NOT to do
It’s the essential entrepreneurial skill that is under appreciated: knowing what not to do. In small towns, entrepreneurs tend to have more than one line of business. Some have seasonal businesses, and some just have different lines of income within their business. Where we have fewer people in our local market, it makes sense […]
