Chase bank pulled their last ATM out of Sebastopol recently.
As a Chase customer, this is an inconvenience for me and an opportunity for others.
Off the top of my head:
- I’ll do more debit card transactions where I get cash back. This means I’ll buy more $5 coffee drinks I don’t really need (a win for Whole Foods) and have a larger transaction size when I do so (a win for the payment processor that handles that transaction).
- If I need a chunk of cash bigger than the $100 cashback limit at Whole Foods, I’ll drive to Santa Rosa to the nearest Chase ATM to get it, a (very small) win for whoever I buy that extra fuel from.
- I’m really thinking about becoming a customer of an online bank. I probably won’t feel like completely leaving Chase because of how many things are linked to the Chase account, so that means a win for the online bank I choose without a corresponding “loss” for Chase.
Every changing market offers opportunity.
When it comes to change, are you focused on the potential loss, or the potential gain?
One of the tools you’ll need to capitalize on the potential gain in a changing market is an understanding of positioning. How it works, how to apply it in your business, and what mistakes to avoid.
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