Why Small Businesses Must Go Narrow (Extremely Narrow) to Survive |
The path to success runs through radical specialization.
BY FAST COMPANY
Credit: Freepik
A few blocks from my home sits a small Japanese grocery store that has been in the neighborhood for years. It’s the kind of place that once felt irreplaceable—carefully sourced ingredients, shelves stocked with items I couldn’t find in mainstream supermarkets, and an owner who knows her regulars.
But much as I love this store, it has been in steady decline for a few years now. Whole Foods opened up nearby and it now stocks all the basics—miso paste, kombu, dashi packets, nori—that I, or anyone else, could want for weeknight Japanese cooking. Suddenly, the extra trip to the specialty shop felt unnecessary most of the time. The big chain........