503-785-3485
bill@conerlyconsulting.com
  • Facebook
  • Twitter
  • Linkedin
Conerly Consulting Conerly Consulting
  • Consulting
    • Approach/Philosophy
    • Sounding Board
    • Economics and Business Strategy
    • Assessment
    • Case Studies
    • Testimonials
  • Speaking
    • The Package
    • Topics
    • Testimonials
  • Writing
    • Businomics Newsletter
    • Businomics
    • The Flexible Stance
    • Blog
  • Industries
    • Banking/Finance
    • Manufacturing
    • Other Industries
  • Video
    • Speaking
    • Event Promotion
    • Business Planning
  • About
    • News Coverage
  • Contact
  • Consulting
    • Approach/Philosophy
    • Sounding Board
    • Economics and Business Strategy
    • Assessment
    • Case Studies
    • Testimonials
  • Speaking
    • The Package
    • Topics
    • Testimonials
  • Writing
    • Businomics Newsletter
    • Businomics
    • The Flexible Stance
    • Blog
  • Industries
    • Banking/Finance
    • Manufacturing
    • Other Industries
  • Video
    • Speaking
    • Event Promotion
    • Business Planning
  • About
    • News Coverage
  • Contact
  • Home
  • Business Strategy
  • Business Opportunities: Avoid the Glamorous

Business Strategy

13 May 2008

Business Opportunities: Avoid the Glamorous

  • By Bill Conerly
  • In Business Strategy
  • 3 comments

I’m staying at an Inn that’s part of a vineyard/winery/spa.  My room is luxurious, with a view you wouldn’t believe.  The food in the restaurant is top notch, and the wine excellent.  I’m enjoying myself, except for a nagging concern:  this joint don’t cash flow.

There is no way on God’s green earth that this business is making money.  Not even with strong appreciation of the land over the next two decades will it earn a halfway decent return.  It may not break even.  After the owner, who made his money the hard way, dies and passes this asset on to someone else, I can foresee it being shut down.  The beautiful cabins, lodge, tasting room, all falling into disrepair.

I don’t begrudge the owner the opportunity to use his own wealth to be a vintner, inn-keeper and restarurteur.  But I do have some advice for the rest of you:  stay away from glamor industries.

The wine business in particular has attracted thousands of corporate refugees, loaded with stock-option wealth, who think it would be great to run a little winery.  If YOU get into this business, you’ll be competing with people who are not making economic decisions, but rather lifestyle decisions.  One of the worst things that can happen to a business is to have stupid competitors.  Okay, maybe they are not stupid, but they certainly are not trying to maximize profits.

My advice to the young people looking for a career: how about wastewater treatment, portable toilet rental, drain un-plugging?  Think about something that nobody would go into except for profit motive.  Such industries have no excess capacity due to lifestyle choices.  It’s just business.  Avoid the glamorous.

  • Share:
Bill Conerly

    Comments

  1. Özel Eğitim
    May 13, 2008

    today economic news
    “stay away from glamor industries”

  2. Ricardo Bueno
    May 15, 2008

    Ok..this comment might seem like it’s coming out of left field (or maybe not)… But I was actually approached a couple of weeks ago by a friend who said “hey, let’s get into the Palm Tree business.”
    I laughed hysterically at first but then he said it’s $25,000+ per sale of… Hmm…

  3. jackdawson
    October 10, 2008

    Hi,
    This is Jack,
    OK..this comment might seem like it’s coming out of left field (or maybe not)…But I was actually amazed to know in Palm Tree Business we may earn $25,000+ per sale of… I can’t believe this.
    ===========================================
    Jack Dawson
    FSBO

Comments are closed.

Search

Sign Up For Our Newsletter!

View Latest Issue

RSS Bill’s Forbes Articles

  • Inflation Has Not Shown Up Yet, But It’s Coming February 25, 2021
    Inflation is muted, but not for long. Inflation is coming in the next two years, then will be followed by a boom/bust business cycle, or maybe two.

Testimonials

Our audience of local business and community leaders not only valued the economic data you provided, but they really appreciated that you made it applicable to their businesses, their personal lives and moreover – that you presented it in a clear and entertaining manner.
Scott Boyer, Mountain Pacific Bank
Bill assisted O.B. Williams Company with developing a strong business plan that we implemented 18 months ago. As a result and together with Bill, we are improving our position within our highly competitive market segment.
David Wick, CEO, O.B. Williams Company (wood products)
It can be difficult to find economists who provide good substantive information who are also entertaining and engaging. I received many enthusiastic comments about Dr. Conerly from members and others in the audience.
Molly Steckel, Idaho Telecom Alliance
AgFirst Farm Credit Bank has benefitted from Bill Conerly’s unique insights and perspectives several times over the past five years…his materials consistently cover the points that we agree on…he has been very well-received by our groups, and we look forward to having Bill with us again in the future.
Ronnie Hucks, AgFirst Farm Credit, Columbia
Bill is a delight and easy to work with. The client thought he was great and delivered value to their group. I would definitely recommend Bill.
Andrea Gold, Gold Stars Speakers Bureau
You made a complicated global picture understandable. I have received many favorable comments from those in attendance. I frequently heard comments like ‘Now I understand’ or ‘Wow, now I get it’ and ‘He was great to listen to. Thanks for bringing Bill to our meeting.’
Pete Van Sickle, Idaho Department of Lands
Every time you spoke, we got business.
Chris Rasmussen, Washington Trust Bank, Bank of the Northwest
Your presentation was right on the mark. I received more positive comments about you than any other presenter. We would not hesitate to recommend you to others or have you back for an encore performance.
Bob Russell, Oregon Trucking Association
As you know, it can be difficult to find economists who provide good substantive information who are so entertaining and engaging. I received many enthusiastic comments from members and others in attendance. I was very pleased with Dr. Conerly and have recommended him to NCSTAE, our national organization.
Molly Steckel, Idaho Telecom Alliance
Seems no matter where I go, I hear you talking – and always doing a great job with different material well tailored to the audience. Very impressive!
Alan Shiffer, World Vision

Get in touch

(503) 785-3485

bill@conerlyconsulting.com

PO Box 2188
Lake Oswego, OR 97035

Useful Links

  • Consulting
  • Speaking
  • Videos
  • Blog
  • Press
  • Contact

Social Links

  • Facebook
  • Twitter
  • Linkedin

Newsletters

Copyright 2020 Conerly Consulting LLC