AREA GROWTH WILL AFFECT YOUR BUSINESS
Maricopa County is the fastest growing county in the nation. This can have a positive impact on your business but only if you take action.
Let me cite from a few articles published this past week:
- 706 new homes to be built North and East of the Northeast Corner of Tatum and Bell.
- In 2018, the East Valley added approximately 13,500 new jobs. Only 25% to 30% of the region’s population lives there.
- Watermark Tempe a 16 story office building with 265,000 sq. ft., is under construction
- A new 259 room hotel is being built on ASU property in Tempe.
- Aldi’s, A German grocery chain is coming to the Phoenix area. They have purchased 14 sites in metro Phoenix.
- Valley co-working space has doubled in the past two years with more coming online.
Every member of BizQuack has an opportunity to grow their business based on this information. Not only are big employers coming to our area, but as a result, many new, small, businesses will open. New roads will have to be built to accommodate the additional traffic.
One item that caught my attention is the co-working space that is taking the entire Valley by storm. These solopreneurs and very small businesses are moving into these spaces to network, to take advantage of workplace technology and available conference rooms, and to improve their image by having a “business address”.
As small business owners we have to constantly challenge ourselves to become more visible as our potential target market grows and also to improve our ability to differentiate ourselves. Along with growth comes competition which will require us to lead change, not follow it.
Moving out of a comfort zone is always a major issue. Perhaps we should have a member meeting on how to take advantages of this growth and how we can support each other, thus multiplying our efforts.
Comments are welcome; e-mail or call Nick.
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Tips & Advice by Nick Petra, CFP – Founder of Strategic Duck and BizQuack
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