Are you prepared for External Opportunities & Threats?

     Every business, even real estate, is subject to Outside or External Opportunity improving or threatening their operation. I didn’t learn this until after I graduated college, I probably should’ve been a business major instead of a music engineering major. External Opportunity is anything that comes along after you’ve started your business that has the potential of helping or hurting your business. 

     In this video, I’ll prove to you how we have no control over this occurrence in business. Even if we are the first to the draw in creating a product or service, that doesn’t mean somebody else won’t do it better. Look at block buster video or any home DVD rental service that had a stand alone store. They’re all gone across the country. I’m going to take you to an old restaurant called Capitan Georges’ seafood buffet where over the years, peeps have tried and tried to reopen it up after it shut down about 15 years ago. Several have tried and nobody has been successful. 

     But today, somebody bought it for $700,000 (I hope they got some owner financing) and they’re in the process of tearing it down to make way for a new CAR WASH. But, just 100ft away external opportunity is rearing it’s head and we’ll take a trip to see what’s being built that may help or hurt this new car wash. We and entrepreneurs must be ready for the unexpected and this is a prime case of life being out of our control. Enjoy as we take a business lesson together to learn just what external opportunity looks like. Finally, at the end of the day, the owners of the land, or the sellers of the land did pretty good on both the sales. Hence why I want you to always be an owner of real estate, like me!!!!