![]() ![]() ![]() My father saw an opportunity for turning the stand into a profitable business and bought it immediately.įigure 4-2 shows how he gave everything a fresh coat of paint, updated the menu, and put up a big sign that said the stand was under ânew management.âįigure 4-2. Polaroid of Alan Levy in front of his hot dog stand in 1978 The place was run down, and the owner appeared indifferent to his customers. He watched the operation briefly and saw how very few customers came to the stand even while their cars were being washed. He soon found a hot dog stand for sale next to a carwash in North Hollywood. So, my father was confident that his own management experience would bring him success. His good friend did well for himself by opening several hot dog stands in the Los Angeles area. Heâd been working for others since he graduated from UCLA with an accounting degree and was eager to be an entrepreneur. In 1976, at the age of 38, he got up the courage to quit his full-time job as the area management supervisor for a popular California restaurant chain. But donât you want to know what it will take to beat the competition sooner rather than later? If you donât know what you donât know, you are at risk of learning the hard way. And it also might bring tears to your eyes if you discover that your product vision is not actually unique. The more layers you peel, the more you reveal. Doing solid investigative market research is like peeling an onion. ![]()
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