May 19, 2020

How to choose a location for your business

Business
Leadership
Finance
business owner
Cutter Slagle
3 min
How to choose a location for your business

It’s all about location.

If you’re thinking about starting a business, then you will quickly come to understand that one of the most important factors to consider is where you decide to place your business. After all, the specific location of your store or company can distinguish whether or not your business becomes a success of failure.

RELATED TOPIC: Learn how to start your own business with these 4 steps

It’s true: finding that perfect location for your business can be extremely exhausting, as well as time consuming and all around difficult. However, in the end, the aggravation will be completely worth it once your find a place to call your own.

In order to find this place, you’ll have to do extensive planning and research — look at demographics, understand the supply chain, know your competition, stick to a strict budget and become familiar with taxes and laws.

Originally reported by our sister brand Business Review Canada, the following tips can help you choose the perfect location for your business:

What are your business needs?

First and foremost, you need to consider your business needs. As an owner, what are your goals? What do you need or want from your company?

Most businesses choose a location that will provide lots of exposure to customers. You may also want to think about the following dynamics in correlation as to where your store is stationed:

  • The brand image of your business
  • Your business competition
  • Any and all plans you may have for eventually growing your business
  • How close and easily you can connect with suppliers
  • The overall safety of the area
  • Laws and regulations regarding the property

What are your business finances?

If you’re planning on starting a business, then you should already be well-aware of your finances. You don’t want to choose a location for your business that you won’t be able to afford. After all, you’re trying to make money, right?

The following financial considerations should be on your mind when choosing a business location:

  • Any and all hidden costs the location may have
  • Property taxes
  • Government economic incentives the property may offer

What is the surrounding area of your business like?

If you want lots of customers (and you do), then your business needs to be in an area that is easily accessible. People want to be able to quickly find your company. And don’t forget about parking — parking is a very important factor. Make sure there’s plenty of space for all of your customers.

But even more so, your business needs to be located in a family-friendly area. Customers want to feel safe when they come into your store, and they may want to bring their children with them. Therefore, make sure you choose a location that people don’t mind going to.

Whatever you do, make sure you do your research — it’s your business, so no one can do it for you.  Consider all options and factors of your business; and most importantly, never sign any documents until you’re 100 percent sure of the various terms and conditions.

It may take some time, but you’ll eventually find the perfect location for your business.

[SOURCE: https://www.sba.gov/]

RELATED TOPIC: Discover how to earn more profit for your business

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Jun 13, 2021

Marketing matters: from IBM to Kyndryl

CMO
Kyndryl
IBM
Leadership
Kate Birch
5 min
Former CMO for IBM Americas Maria Bartolome Winans was recently named CMO for Kyndryl. Maria talks about her new role and her leadership style

Former Chief Marketing Officer for IBM Americas, and an IBM veteran of more than 25 years, Maria Bartolome Winans was recently named CMO for Kyndryl.

Prior to joining Kyndryl as Chief Marketing Officer, Maria had a 25-year career at IBM, most recently as the tech giant’s CMO where she oversaw all marketing professionals and activities across North America, Canada and Latin America. She has held senior global marketing positions in a variety of disciplines and business units across IBM, most notably strategic initiatives in Smarter Cities and Watson Customer Engagement, as well as leading teams in services, business analytics, and mobile and industry solutions. She is known for her work with teams to leverage data, analytics and cloud technologies to build deeper engagements with customers and partners.

With a passion for marketing, business and people, and a recognized expert in data-driven marketing and brand engagement, Maria talks to Business Chief about her new role, her leadership style and what success means to her.

You've recently moved from IBM to Kyndryl, joining as CMO. Tell us about this exciting new role?

I’m Chief Marketing Officer for Kyndryl, the independent company that will be created following the separation from IBM of its Managed Infrastructure Services business, expected to occur by the end of 2021. My role is to plan, develop, and execute Kyndryl's marketing and advertising initiatives. This includes building a company culture and brand identity on which we base our marketing and advertising strategy.

We have an amazing opportunity ahead at Kyndryl to create a company brand that will stand apart in the market by leading with our people first. Once we are an independent company, each Kyndryl employee will advance the vital systems that power human progress. Our people are devoted, restless, empathetic, and anticipatory – key qualities needed as we build on existing customer relationships and cultivate new ones. Our people are at the heart of this business and I am deeply hopeful and excited for our future.

What experiences have helped prepare you for this new opportunity?

I’ve had a very rich and diverse career history at IBM that has lasted 25+ years. I started out in sales but landed explored opportunities at IBM in different roles, business units, geographies, and functions. Marketing and business are my passions and I landed on Marketing because it allowed me to utilize both my left and right brain, bringing together art and science. In college, I was no tonly a business major, but an art major. I love marketing because I can leverage my extensive knowledge of business, while also being able to think openly and creatively.

The opportunities I was given during my time at IBM and my natural curiosity have led me to the path I’m on now and there’s no better next career step than a once-in-a-lifetime-opportunity to help launch a company. The core of my role at Kyndryl is to create a culture centered on our people and growing up in my career at IBM has allowed me to see first-hand how to prioritize people and ensure they are at the heart of progress in everything Kyndryl will do.

How would you describe your leadership style?

I believe that people aren't your greatest assets, they are your only assets. My platform and background for leadership has always been grounded in authenticity to who I am and centered on diversity and inclusion. I immigrated to the US from Chile when I was 10 years old and so I know the power and beauty that comes from leaning into what makes you different from other people, and that's what I want every person in my marketing organization to feel – the value in bringing their most authentic self to work every day. The way our employees feel when they show up for themselves authentically is how they will also show up for our customers, and strong relationships drive growth.

I think this is especially true in light of a world forever changed by the pandemic. Living through such an unprecedented time has reinforced that we are all humans. We can't lead or care for one another without empathy and I think leaders everywhere have been reminded of this.

What’s the best leadership advice you’ve received?

When I was growing up as an immigrant in North Carolina, I often wanted to be just like everyone else. But my mother always told me: Be unique, be memorable – you have an authentic view and experience of the world that no one else will ever have, so don't try to be anyone else but you.

What does success look like to you?

I think the concept of success is multi-faceted. From a career perspective, being in a job where you're respected and appreciated, and where you can see how your contributions are providing value by motivating your teams to be better – that's success! From a personal perspective, there is no greater accomplishment than investing in the next generation. I love mentoring younger professionals – they are the future. I want my legacy as a leader to include providing value in work culture, but also in leaving a personal impact on the lives of professionals who will carry the workforce forward. Finding a position in life with a job and company that offers me a chance at all of that is what success looks like to me.

What advice would you give to your younger self just starting out in the industry?

I've always been a naturally curious person and it's easy for me to over-commit to projects that pique my interest. I've learned over years of practice how to manage that, so to my younger self I’d say… prioritize the things that are most important, and then become amazing at those things.

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