February 16th, 2009 by Jim Donovan
While coffee giant, Starbucks, struggles to keep it’s stores open, providing decent jobs and benefits for even part time employees, author Suzy Orman is telling people the way to wealth is to “make your own coffee at home and save the money.”
Sure, saving money is always a good idea and it’s prudent for people to look for ways to cut back on expenses, however, Orman is taking it to the extreme. Cut your own hair, make your own coffee and brown bag your lunch? What’s next, eating dog food?
Much of Orman’s advice is sound and no doubt she’s well intentioned but there are other ways to change one’s financial situation.
In my newest book, Stop Living Paycheck to Paycheck, I suggested a change in your attitude and beliefs about how much money you deserve and desire as the place to begin. I then suggest several part time ventures almost anyone, with a little ambition and drive can implement, without giving up their job or risking their savings, to supplement their income.
I am one of the authors who teach making more money as the solution to financial shortage. My philosophy is shared by many of my colleagues. People like Jack Canfield, Joe Vitale, Mark Victor Hansen, T. Harv Ecker, Bob Proctor, Loral Langemeier, and others have all written about using attraction principles as the way out of struggle.
In the end, it’s a personal choice. You can decide to make more money or drink cheap coffee. For me, and those in my camp, foregoing Starbucks is not an option.
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July 31st, 2008 by Jim Donovan
A prime retail location recently became available on Main Street in the heart of downtown Doylestown, Pennsylvania. An upscale, charming community, with a good amount of local and tourist activity.
Nestled amongst upscale restaurants, unique shops, local bookstore and trendy national brands like Chico’s, The Gap and Starbucks, one could only wonder what would fill this newly vacated space.
What opened there, probably the last type of store anyone would have guessed and certainly one which a business school professor would have vetoed, was a competing brand of coffee.
At first glance you might question the sanity of the decision to open a coffee shop two doors down from a Starbucks, however, upon closer examination it becomes apparent that not only will the newly opened location survive, but more likely will thrive.
You see the new business, The Bucks County Coffee Company, has the business savvy to differentiate themselves from the national brand.
In all fairness to The Bucks County Coffee Company, they do have a high profile since Doylestown is the county seat of Bucks County, PA and the company has been known throughout the area for years.
The real significance however, is that they are clearly not attempting to go “head-to-head” with the Starbucks giant, but rather to play on their uniqueness and emphasize their differences.
This is the lesson for all small businesses, especially those who are faced with a national brand, or a big box store coming to town.
The way to succeed in a competitive environment is to look for ways that you can emphasize your strengths without taking away from the other business.
In the abundant universe we live in, there is always plenty to go around, providing you stay focused on what is working and avoid, at all costs, getting into a state of feeling lack or thinking “life is a dog eat dog” proposition.
Doing the latter will only attract more of the same and you will soon see your business failing.
You might even visit the larger competitor, introduce yourself and ask how you might work together for everyone’s benefit. The answers you receive may well surprise you.
It today’s business environment, one that is clearly different than days gone by, even companies who compete in one area will often form joint ventures for other parts of the business.
What are two things that differentiate your business from your competitor?
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