We have all heard it said that little service is the backbone of the economy, and we all seem to know that is true. The specific meaning for small service is not so clear, but what is clear is that many companies are small by that allusive definition.
There is strength in being small when you discover how to harness your energy. The concept of comparing the size of an organisation, to the size and power of a boat, offers an excellent analogy. A cruise liner may endure storms and high waves far better than a small luxury yacht, however it is not extremely maneuverable. A speedboat can go places a ship could never attempt. It is much faster, nimble, and can turn quickly to avoid danger.
These comparisons are no surprise. The majority of people appear to recognize the differences between big and small businesses, but pondering them well enough to seize their potential is what separates the weak from the strong. The little athlete, who might quickly be crushed by bigger rivals, can still win by evading them and outrunning them.
For small company owners to adapt the exact same thinking as industry can quickly bring catastrophe. You have the advantage if you think differently. Business designs are altering quickly, and a little agile company can adjust faster. There are big companies teetering on the edge of personal bankruptcy. Some of them are so steeped in out-of-date service practices, that they can not adapt quickly enough to avoid hitting the iceberg.
While huge corporations might have an advantage in marketing budget and purchasing power, small companies are normally better at having substance. They can react to their consumers and provide more tailored service. They can specialize and flourish in a smaller sized niche market that would be not practical for a larger company. It is difficult, possibly even impossible, for a big business to run as efficiently as a small service. Due to the fact that efficiency is so needed, small services tend to be much more efficient.
Small businesses can also quickly execute approaches to increase efficiency. Advances in locations such as lean production, modular tooling and work cells, automation, communication, and information technology aid level the playing field for small business. With video conferencing and the Internet, partnership can be achieved without pricey travel.
In spite of the difficulties, the opportunities for small company have never been better. If you find yourself wanting your company was larger, that’s terrific, keep reaching higher. Keep growing and improving. Reach for your fullest capacity. Ensure to delight in the journey though. Your business may always be small according to the unclear meaning of whatever little is, but being little can also be your greatest strength.