2 Things Successful Business Start-Ups Have in Common

What determines a company’s success? Many successful start-ups have two important factors supporting them: (1) healthy competition and (2) strategic location.

Successful newcomers bring new efficiencies in inefficient markets.

According to The Washington Post, targeting existing markets seems to work in your business’s favor if they’re dominated by inefficient or expensive incumbents. Consider the taxi industry. The Taxi and Limousine Commission limited the number of taxis on the road at a certain time. This resulted in a monopoly that allowed taxi drivers to charge excessive amounts even if their service was poor—that is, until Uber and Lyft came along.

These start-ups reintroduced true competition in the car service industry. Because of them, consumers now have more convenient and cost-competitive options if they want to get around the city.

However, it’s inaccurate to say venturing into a monopolized market will ensure that your business is a success. A few years ago, not a lot of people would have thought that the taxi industry was ready for competition. Lack of competition is just one factor. There are several others that can determine how well your business fares.

Even among start-ups, location still matters significantly.

No matter what industry you’re breaking into, it’s important to consider location. Keep in mind that not all cities are the same. Different places are home to different dominant enterprises, investors, and pools of talent. Your business location matters in finding investors or getting the attention of your target market.

Metro Offices helps start-ups, solopreneurs, and home-based companies find suitable locations to give their business a status boost. We have premier office space for lease in washington, dc, Maryland, and Virginia. Our office spaces are all conveniently located close to major business centers and transportation facilities.

All of our private, semiprivate, and open workspaces are fully furnished with facilities, services, and technology to help your business stay efficient. We have business-ready meeting and conference rooms to entertain clients in, as well as training rooms in which to develop your employees’ skills.

Most of all, we have flexible terms to suit your dynamic business needs. We’ll help you select a full-time or part-time program that works best for your company.

If you need help finding a workspace solution or virtual office space Maryland, DC, and Virginia businesses trust, don’t hesitate to call us at (703) 871-5208.

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