Page 56 - 100 Great Business Ideas: From Leading Companies Around the World (100 Great Ideas)
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by locating near the studios. Further north there is the example of
Silicon Valley—a cluster of technology companies benefiting from
the pool of talent in nearby universities.
Although clustering raises a number of challenges for any business
to overcome, an innovative, efficient, and dynamic company will be
able to turn these challenges into unrivaled advantages.
In practice
• There are often a number of industry centers for a particular
product; use careful research to decide which one best suits your
business.
• Ensure your customer offering is truly competitive—the direct
contrast with rival companies provided by clustering will only
benefit companies with genuinely superior products.
• Highlight where you are and emphasize how your products are
superior.
• Take advantage of the increased access to cutting-edge industry
information—this can range from regional publications to
“neighborhood gossip.”
• Remember that clustering is not suitable for all companies—
consider your overall business plan and the nature of your
business before deciding where to locate.
100 GREAT BUSINESS IDEAS • 49
