Entrepreneurs who create small businesses don’t often consider what the big picture might be. It’s not an either/or decision – or a binary decision – when it comes to smaller and larger businesses. It’s more of a continuum.
Small businesses are just that: small. There’s no difference between a small business and a medium-sized business, or a large company or even a medium-sized company. They’re all business entities.
On the other hand, a large or medium-sized business is considered a “mega-business” by some. Who cares what others think? If the business is successful, it will make you the same money or more. That’s just the way the universe works.
There’s really no difference in the definition of a successful business enterprise. The only differences can come in the approach to running that enterprise.
Small business owners need strong leadership. It’s the key to the success of any business.
Strong leadership is important, because a strong, hard-nosed leader isn’t going to listen to the naysayers. Weak leadership will lead to ineffective management, weak financial performance, and weak customer service.
As for customer service, well, that’s a whole other ballgame. When you’re in the business of selling, you have to have outstanding customer service. That means you’re going to have to excel at every aspect of customer service, including the ability to handle disappointment.
Small businesses tend to emphasize customization over the more rigid structure of a larger enterprise. You’re going to have to be able to adapt to changing market conditions and changing consumer preferences. Someconsumers like to buy the latest product.
Small businesses may have fewer sales people. If you’re dealing with customers only, that can add to the inconvenience of working from home.
Small businesses are less likely to be a part of a community. And, of course, they’re less likely to have a corporate community that supports the growth of the small business enterprise. Those corporate affairs usually involve sales and marketing, which can be a very similar set of skills.
Small businesses aren’t usually considered a “profit center.” They don’t focus on making money; they focus on selling their products and services. If you want to make money, this is the wrong way to go.
For some people, there is a whole other set of business activities involved in the operation of a particular business enterprise. These activities are called the “big picture” activities. If you can devote time to these activities, they can make a huge difference in the ability of your small business to grow.