There are hundreds of small businesses in Studio City. Some of them may be places you and your family frequent, businesses that have been in Studio City for as long as you can remember. And some may be your go-to places instead of national chains.
AOL Chairman and CEO Tim Armstrong may stand behind a global brand, but he believes in the power of small businesses. In his recent interview with Patch Partners, a website connecting business owners to Patch in local communities, he offered his insight into what can set a small business above the rest of the competition.
Small businesses can hold a lot of power if they are intuitive with their customer base, Armstrong said.
“Small businesses can be nimble and can have intimate relationships with their customers. Knowing what their customers want is a very big advantage.”
Claudia Wells, owner of Armani Wells, said she loves the stretch of Ventura Boulevard where her shop is located. "It's fun, diverse, eclectic and always has a great group of shoppers," she said.
Armstrong also noted that real success lies in what your business offers that the competitors do not.
“The advice I would give is the same advice I give myself—how do you create a differentiated and time-saving experience versus your competition? If a consumer cannot tell another consumer what unique benefit you offer, you might be missing an opportunity,” he said.
From a custom balloon shop (Elegant Balloons), to Yellow Balloon (hair salon); from designer dog shops (like Maxwell Dog) to designer jewelry (like Victor Master Jeweler), Studio City has a lot to chose from.
Another way to support locally owned small businesses is to participate in American Express's Small Business Saturday on Nov. 24. Last year, over 100 million people participated in this day dedicated to supporting small businesses.
There are more articles and interviews about small businesses on Patch Partners, where you can also sign up for the Patch Partners newsletter and Patch Partners Twitter feed to stay better informed, grow your small business and strengthen your community.
TELL US: If you are a small business owner, did you find this information useful? If you are a patron of small businesses, do you agree with this advice? What are your favorite local businesses, and why?
* Check Out the Studio City Businesses Involved in Small Business Saturday
* See Things Heard Around Town for more businesses