It’s never been easy to be a large business, when I worked at IBM the employees often described the company as “a slow moving dinosaur”. It wasn’t anything ‘personal’ about IBM, it was the fact that it was so large that it took longer for messages to be filtered down through the masses. It was also the fact that it took longer for IBM to react to changes in the market as there was more of it to manoeuvre.
Things have changed in the business world. Some of this change has come about from the existence of the internet and some of it because small businesses have been recognised as being able to bring about both financial growth and security that the western world is seeking.
Here are the reasons why it’s good to be a small business in this day and age:
Big Fish. Small businesses can take advantage of being a big fish in their chosen speciality. They can flourish by serving a narrow market. Being a specialist in a field means that you can command a bigger price.
Experience – many small businesses have access to deep knowledge of their particular field. Some large businesses send out twenty something consultants who haven’t had much life or business experience to advise companies. Who would you pick?
Customer based. Many small businesses change and grow by responding to the requests of their clients. A particular product may be requested that will address the needs of one company – then this will often turn into a major opportunity.
Fast moving. Small business can rapidly remould their business models to fit opportunities. This enables them to be inmnovative and able to deliver solutions. Larger companies cannot be so agile.
Some large companies are reacting to the realisation that there are so many advantages for the small business. They are developing labs that are designed for faster reactions to changes in the market place. It’s really the only way that they can see the same type of successes that are available to small businesses.