Thoughts and ideas for small business development and growth
Everywhere we look big businesses are burning the midnight oil trying to look, and in some cases, be smaller than they actually are. At the other end of the spectrum us smaller businesses are tapping our imaginations hard trying to look bigger than we really are. What a farce! If we spent just as much brain power on developing new ways of doing business, being creative or creating a leading edge product, things could be a lot different!
As I’ve mentioned before, traditional marketing is over, thankfully. I was never comfortable with it anyway. Now the playing field is more level. Technology, the internet, mobiles and global inter-connectivity mean that small business can play with the big boys or girls! You don’t need a multi million pound budget to reach your customers. A few thousand quid will often do.
But what do we do instead, we act like big corporates when they grow and hit a certain age. Small businesses stabilise, systems rule the roost and ideas run out. They become boring, risk adverse and whilst the larger business usually has huge cash reserves to weather the storm, the small business doesn’t. In fact the small business should have just done the complete opposite, taken the risks, kept nimble, utilised its close team and generated lots of ideas that it could quickly take to market.
Our biggest and most aggressive enemy is complacency itself. Small business must not lose the character that made them successful when they first started up. They can easily be closer to the customer, better able to add value to the customer and have more chance of making creative decisions than big business.
One Response for "Playing field more level for small business"
Good post Ann, couldn’t agree more with you that instead aspiring to look like big companies SMEs should focus on those things that give them competitive advantage like being nimble and fleet-of-foot when it comes to change and jumping on market opportunities and when it comes to have a close knit team who can easily all pull in the same direction to great effect if they share a common sense of purpose about what they are doing and are passionate about being in the organisation that they are in - which lets face it if you are an SME you shouldn’t have anybody in your team who isn’t passionate about being in your business - you can’t afford it.
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