A sweet shop and a flat builder can stand on the same street and feel the same news very differently. Here is a simple test for spotting which businesses depend on cheap loans for their customers, and why it matters.
Some businesses reach their customers through their own front door. Others reach them through a door that belongs to someone else. Here is how to tell the two apart, and why it matters who holds the key.
Some businesses decide their own price. Others are simply told the price every morning. Here is how to tell the two apart, and why the second kind can only be a good business if it is the cheapest to run.
Some businesses are really one remarkable person with a shop around them. Here is why that is a hidden weakness, how great businesses plan for the day the person leaves, and a simple set of questions to ask.