100 Great Business Ideas: From Leading Companies Around the World (100 Great Ideas)

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100 GREAT BUSINESS IDEAS • 49

by locating near the studios. Further north there is the example of
Silicon Valley—a cluster of technology companies benefi ting from
the pool of talent in nearby universities.


Although clustering raises a number of challenges for any business
to overcome, an innovative, effi cient, and dynamic company will be
able to turn these challenges into unrivaled advantages.


In practice



  • There are often a number of industry centers for a particular
    product; use careful research to decide which one best suits your
    business.

  • Ensure your customer offering is truly competitive—the direct
    contrast with rival companies provided by clustering will only
    benefi t companies with genuinely superior products.

  • Highlight where you are and emphasize how your products are
    superior.

  • Take advantage of the increased access to cutting-edge industry
    information—this can range from regional publications to
    “neighborhood gossip.”

  • Remember that clustering is not suitable for all companies—
    consider your overall business plan and the nature of your
    business before deciding where to locate.

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