Moe Abdou is joined by entrepreneur, and Utah State University professor Michael Glauser to deconstruct the framework of building a main-street type business.
The Main-Street Business Model
If you’ve ever wondered what the true meaning of a ‘mom-and-pop shop’ or a main-street business, I encourage you to get familiar with the fascinating documentary that Utah State University professor, Michael Glauser is producing. His work was inspired by the sale of his family’s frozen treats company – Golden Swirl Management, and is the culmination of a 4,000 mile bicycle journey from the west coast of Oregon to east coast of Virginia where he visited more 100 cities, observed thousands of community-based businesses, and interviewed the men and women at the helm of those companies in search of success clues that the rest of us can model.
The first glimpse of his findings were released in his book, Main Street Entrepreneur, where he cites nine success patterns that you’ll find both practical and simple to implement. As I explore this framework with him, pay particular attention to how these businesses gain early market penetration.
Here’s what you’ll learn:
Main street vs Silicon Valley
The essence of building a main-street business
Why purpose is especially important in a community-based business
Why you should launch opportunities, not ideas
Assembling the right cast of characters
When and why you should pivot
To raise or not to raise capital