Location can strengthen trends. This sixth lesson in our course on how to spot and take advantage of investing trends, business trends and economic trends looks at how you can use location to magnify your investment and business gains.
Merri and I lived in Naples, Florida for nearly twenty years and still maintain a base there. So we are not surprised when we see a house down the street go on the market for five, ten or even twenty million dollars. Newcomers to town often have sticker shock when they first look because prices are crazy. Seems like the wealthy from around the world-the Brits, Belgians, Canadians, Germans, the Middle Easterners and the USA all want a “little” home on the beach there.
This is such a strong trend that means anyone who bought a decent home in Naples ten years ago has made at least an extra millions bucks. This is what happens when your investments are backed by a trend!
Consequently many of our friends who are in the real estate business in Naples have become very wealthy. All they had to do was hang in there and run a normal business. If the same developer had built homes in Oklahoma City or Des Moines or even Miami they may have made a quite a bit of money. Doing exactly the same thing in Naples they simply made much, much more.
So when you think about business or investing, look at the cities where the growth is. For example our magazine business started in Naples so we enjoyed the benefit of this growth. But we are glad that we have a magazine in Las Vegas (one of the fastest growing cities).
Recently USA Today recently featured Americaís Most Livable cities shown at www.mostlivable.org
Top pick cities included Tulsa, Oklahoma; Winston-Salem and Charlotte, North Carolina; Columbia, South Carolina; Birmingham, Alabama; Grand Rapids, Michigan; Jackson, Mississippi and St. Petersburg, Florida.
I am certainly applying this idea to my business plans. Our magazine business has just started a magazine in Winston-Salem and is setting up in Charlotte now, part for this reason alone. If you are looking for a business opportunity in the Wellness Revolution and live in or want to move to Columbia or Tulsa, drop me a note at email@example.com
Any time you are thinking of business or investing, look at locations where there is lots of growth or factors that will stimulate growth. Trends are likely to be stronger there.
Until next message may all your trends be strong!