Short video/transcript where Chris Koerner uses Santorini’s many gelato shops as an example to argue that opening a business amid many competitors can be the right choice because you want to locate where the market (demand) is—i.e., where customers already congregate. The core lesson: prioritize market size/foot traffic over avoiding saturated locations.
I'm in Santorini, Greece, right now, home of the gelato shop. There is a gelato shop basically on every corner here. So let's say you're a gelato owner and you're like, where am I going to open? Not in Santorini because it's too saturated here. Wrong. Because what matters the most in business? The market. And where is a hotter market for gelato shops? There is none if you're here in Santorini. So you want to open where all the competitors are. Why? Because people come to Santorini to buy gelato. You want to be where the people are, just like Ariel. Okay. That's your Business 101 lesson for today.
