Street level businesses face multiple challenges including the need to secure permits and licenses in a society which expects an exchange of favors and benefits at all levels. Establishing, growing and protecting a successful business requires practical street-smarts guided by a market-tested moral compass.
Mark Secchia discusses Sherpas’ business model in terms of marketing, finance and growth strategy. He shares his experience and rationale for decisions such as focusing on servicing the English-speaking expatriate community exclusively and expanding the business by offering the same service in different cities, instead of trying to service other customer segments or deliver other products in Shanghai.
He also provides valuable insight on Sherpas’ self-sufficient approach to finance issues and tells us about his plans and strategies for future expansion.