Idea of the Day: we need a “Home Depot” for small business

Will you allow me to be contrarian for a moment?

I don’t believe Home Depot is successful because they have the lowest prices around. That’s reversed. They have the lowest prices around because they are so successful.

I know there are strong points to make the opposite case, but bear with me for a moment. Here’s my point: they are not just a hardware store, they are a lifestyle company. There’s a Home Depot in my area. As you would expect, there is also a Lowe’s Walmart, Staples, Target, etc. I grew up here, and twenty years ago life wasn’t like this at all.

Back then none of that was here. I remember Saturday mornings well. We’d put the trash in the car and take it to the dump, then we’d stop by the bank, then the post office, then the department store, then the hardware store and finally the grocery store before heading home. The super stores changed all that. They became convenience destinations. Go to one place and get virtually everything you need. So why hasn’t that extended into to the small-medium business space yet?

Small business is still the foundation of our economy. As an entrepreneur I understand what it’s like to wear many hats. I need to be the Information Technology guy, HR professional, Legal consultant, Customer Service manager, Salesperson, Marketing Director, etc. And guess what? None of these are really my core strengths. So it is with almost every other business owner too.

I believe that there is a large, unfilled space for a Home-Depot type of experience to service these businesses. I’d love to be able to walk in to a place that would subcontract professionals for me, provide all of the products and services I need, offer in-store consultations and seminars, and do so with competitive pricing. Heck think of the group benefits they could extend for health, liability and other kinds of insurances their customers were members.

Are you a small business owner? If so, could you see this kind of company benefiting you?