In the old days, every town needed a stable to feed, water, and house the vehicle of the day, the horse. Over time, automobiles supplanted horses as the principal mode of travel, and stables gave way to gas stations.
When people think about going into business, they still think in terms of inventing a new product and creating a manufacturing and distribution business around it. Since the advent of the internet, the world is a much flatter place, affecting product and service businesses alike. Most countries can provide labor to build products much more cheaply than the US. Product companies that insist on manufacturing their products in the US suffer a distinct cost disadvantage when trying to sell their products just to add “Made In America“
However, for services that have to be provided in person, the flattening of the world is much less pronounced. In fact, when coupled with the aging of the American population and the fact that younger folks have lost the Do It Yourself (DIY) gene, some services and trades are on the rise.
When I was young just about every boy could perform a tuneup on his own car. In fact, when my boys reached driving age I purchased a cheap truck for them that required a total engine rebuild. We did this ourselves so I could expose them to how a car works and the DIY culture.
Today cars have become so complicated that with the exception of oil and filter changes you need to get professional help for repairs. Similar evolutionary changes have occurred in other professions, too, giving rise to more service-oriented businesses in the US.
Has your view of the business world changed as the business landscape has evolved?
