I hope you will find this blog series interesting and see how analytical methodology is productive. It is even possible that you will acquire a taste for perusing data tables and cartography to unlock hidden treasure. Or maybe not.
My education began with a B.S. in Economics and later post baccalaureate studies in professional accounting. I have an MBA majoring in Management science and Marketing. I mention this to explain my interest in quantitative methods for business management and planning. For the next few blogs lets discuss models needed to plan for a new business and build a model of how it would be managed.
As a case study, I have posted data and background for launching a start up business that is to repair outboard motors. For the record, I know little about outboard motors, qualifying me only to research the financial/business data concerning launching this project. Individuals in this industry are welcome to comment on operation of such an enterprise.
The United States Government gathers and catalogues data on business, population, etc. and then saves it forever. The data is then made available to you for free. This data can be invaluable in determining the success of your new business. Here is how we will use it.
For purposes of this blog post, let’s start a business in say Kemah, Texas. We are going to explore the kind of business that might be welcomed in the area and what resources are needed. A good starting point could be to gather demographic data about the location and resources.
Kemah, Texas is a small city located in the northeast corner of Galveston, County, Texas. Kemah is less than one mile south of the Harris County border. Houston covers most of Harris County. A few decades ago Kemah was a shrimping village and a convenient destination for fresh seafood. Currently, it is known for the Kemah Boardwalk. The Boardwalk features upscale restaurants, carnival entertainment, hotels, piano bars, boutique cafes and gift shops. Also, Kemah has access to the Gulf of Mexico and is close to two yacht clubs, boat storage facilities and pleasure boat services.
To start things going, I am posting maps and charts that will be useful for this exercise.
- Map of the Texas 14th Congressional district map in which Kemah is locate.
- Census table displaying population by age for Kemah.
- Census table displaying population by gender and ethnicity for Kemah.
- Census table displaying demographics for small engine maintenance.
I intend to rely heavily on publicly available data from the U.S Census Bureau, Department of Labor, Department of Commerce, and IRS.
Have you had a chance to use this valuable data in any of your decision making?
Read the next blog expanding on the Kemah case study here.