Main Street is in Style
By John Bouhall, CPCU
Learn about the enduring quality and appeal of small businesses.
Read a few suggestions for small businesses evaluating opportunity and strategy.
As the country prepares to celebrate its 250th birthday next month, let’s remember to honor the ingenuity and resilience of small businesses, especially here in Northeast Ohio. They’ve been around from our agrarian roots, thrived during industrialization, suffered painfully through or closed during the computerization era, and are now mining their way into machine learning. While it hasn’t been easy or smooth, small businesses continue to generate income and jobs in Northeast Ohio, as well as in many other regions.
Although it’s become sport to pit “Wall Street” against “Main Street”, the truth is the two are interdependent. Today, one cannot exist without the other. Like most things in life, they each have to find their place in an ever-changing environment. Even the term “Main Street” has evolved from early-20th century nostalgia associated with small-town conventionality and tradition to today’s generic reference of everyday local businesses.
While Main Street has suffered closings and displacement, it endures. Main Street is gritty, risky, and rewarding. It may go out of fashion, but it will never go out of style. With decades of experience handling commercial insurance for Main Street businesses in Ohio, mostly in Northeast Ohio, Richey-Barrett Insurance has seen small businesses come and go. Many, though, have been in business for years, likely by committing to some of the MAIN STREET style suggestions below:
Market Get your name out there in a meaningful way.
And Actual production or service should align with marketing.
Identify Know your customers and your product.
Niches Specialize, and do it well.
Serve Be available to and appreciative of your customers.
Think Anticipate outcomes and how to best manage change.
Relate Understand your customers’ needs and challenges.
Evolve Keep abreast of your industry and strategize accordingly.
Earn Trust and respect are earned and valuable.
Transform Change and relevance are givens. Plan for both.
A Happy 250th Birthday to America, and a heartfelt nod to all small businesses that are the fabric connecting local communities throughout the United States of America!
Richey-Barrett Insurance is a Trusted Choice Independent Insurance Agency for commercial business insurance. Our commercial lines insurance customers are mostly small/Main Street businesses. We represent several quality commercial lines insurance companies.
