MBA Thesis & Project

As I’ve been listening to different audio books and putting this program together, one thing has become clear. I need a thesis and a workable project to make this site complete. With a dozen or so audio books under my belt, I’ve come to love the format. I can listen while I’m walking, driving, or just working around the house.

The format does two important things for me.

1. It helps me complete the book. Unlike written books which take uninterrupted time, the audio book format lends itself to multitasking. I can be doing something else while I’m enjoying the material. This is especially helpful while doing something that is naturally boring or unpleasant. Listening while exercising or weight training has proved to be a win-win situation. The book comes alive and the focus on exercise disappears. So many written books lie unfinished because of a lack of uninterrupted time.

2. Immersion in the subject. Being able to listen to a subject while walking, driving, or just sitting is a huge plus for the audio book format. My walks through local business districts have proven to be an amazing experience. The insights that I’ve learned are incredible. Listening to Seth Godin, John Maxwell, or Malcom Gladwell while exploring a new business district has opened my eyes to subtle clues about business success. All of a sudden important stories appear in some businesses while others are truly unremarkable. It truly gives you an important perceptiveness of reality. One that would be very helpful for business owners.

One thing has become clear. I love old towns. The unique business districts with an eclectic mix of entrepreneurial adventures are fascinating. Ever since I was a kid I always dreamed of owning a small business. Having a shop with cool stuff and adventurous customers has always been in the back of my mind. To open a unique restaurant with delicious food and live music has been an unwritten goal for years. Reality has always prevented me from pursuing any of these dreams.

Reality says that most businesses struggle and fail. Walk through any old town and you’ll find that to be true. Yet in every town I’ve been in there are always the standouts. Restaurants with lines out into the street, eclectic antique shops full of curious customers, and the ubiquitous art gallery with the painting you just have to own. What makes some businesses stand out from the others? Why are some a roaring success and others empty? That is the question of my thesis.

Seth Godin has opened my eyes to storytelling. In this new millennium, advertising and normal marketing is not enough. There is always somebody willing to sell your product cheaper and get it to your customer faster. Enter Wal-Mart and the other big box retailers. Selling products for less money that most businesses can buy them wholesale. How can a small business compete? The answer is they can’t. They can’t compete if they are telling the same story. If they are just marketing and advertising the same thing as Wal-Mart, Wal-Mart wins every time… even if it’s just a few cents.

Small businesses must sell a different product and tell a different story. A story that Wal-Mart or other mass retailers could never tell. A story so compelling that people are drawn in from far away.

That is my thesis…

Old Town: Developing an Authentic Story in a Wal-Mart World

Some questions that will be answered.

1. What kind of businesses thrive in an old town setting?
2. Who are the customers that come to old town?
3. What story must be told to bring customers in?

As I explore different Old Towns, these questions will be asked and the answers compiled. Is there a pattern for success? Is there a particular business model that works well in this environment? Is there a particular customer base/demographic that is drawn to old town businesses?

As I have walked through diverse old towns such as Temecula, Murrieta, and Fallbrook certain similarities are starting to emerge. Each town is completely unique but particular business models are coming to the forefront. Some stories are working better than others. There are incredible standouts with amazing tales being told.

Come along and join in the adventure.

Later this week we’ll talk about developing a workable project to accompany this thesis.

Designing and developing our own workable Old Town business.

We’ll buy the land, build the building and develop a story. All on paper… but the story will be real. The beams and stucco will exist only in a CAD drawing but the story will be authentic…

if only in our imaginations…