Rickety Plan Makes for an Unstable Ride

Fix the foundation before your proceed I take advantage of Yahoo’s alert program, subscribing to a number of words and phrases for business and fun. One of my alerts is for news containing the words “start a business” because I’m intrigued to learn about businesses mentioned in the news.

Here’s a story I found about two partners in Anchorage, Alaska who started a bicycle rickshaw business to accommodate tourists. The article leads me to think that the partners overlooked the marketing plan when developing this idea. What do you think?

Many licenses are said to be needed for this operation. There are competitors, which tells you that the need for transportation exists, but the rickshaws cannot go into certain areas to pick up tourists. That’s another hurdle that grinds progress to a halt.

Their $25,000 investment comes from savings and credit cards, yet there seems to be no real plan for recouping this amount outside of subcontracting and possible advertisements on t-shirts and rickshaws.

According to the article, the partners have outside interests which take their focus away from business. Everything points to this enterprise being developed on shaky ground.

It’s a thrill to think of a good idea based around a perceived need. But how can small and solo business owners thrive without a marketing plan? This business seems to be skating on thin ice, and in Anchorage, that can’t be good.

Technorati Tags: bicycle rickshaw business, marketing plan, rickshaw, solo business owner, small business owner, small business marketing

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June 28, 2006 | Filed Under Problems & Solutions, Recent Entries

Comments

2 Responses to “Rickety Plan Makes for an Unstable Ride”

Flora Morris Brown on July 3rd, 2006 12:19 pm

As someone who has experienced Anchorage’s thin ice I concur that this is an enterprise in peril. It may not be too late for these guys, however, if they realize their error and quickly sit down to research and make a plan. Every business is in the same danger without a plan. Lots of energy and money can be lost unnecessarily when you go into business on a whim.
Shirley George Frazier on July 3rd, 2006 3:46 pm

“On a whim” is exactly how this business seems to be created. There is potential because of tourism, but as you state, Flora, a whim is not the basis for a stable, profitable enterprise.

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