Small businesses can be found in every corner of the world – be it in the shape of a corner shop, cafe, or a beauty salon. This type of businesses are always small in size and coverage but you can never be sure about their age. Some of them may be passed on from generation to generation while others may be formed just a couple of months ago. The fact is – it has never been easier to form a small business than it is now. As a result, nowadays we witness that the small businesses form the bulk of the international market.
Meanwhile, side by side to the small businesses hundreds of new startups born every day. Startups are also a type of enterprise which, in comparison to small businesses, are always small in age and are often based on an innovative idea or technological solutions.
The fact that many startups turn out to be successful these days comes to prove that they may teach some valuable lessons to small businesses. So what are the lessons?
1. Think wide!
The owners of small businesses often prefer to learn more details about their market, for example, an owner of a corner bakery shop may know all its customers by name and even their have clear knowledge on, say, whether the customer likes pancake topped with syrup or with powdered sugar. To know your market is obviously a big plus, still, it should not make you give the idea of enlarging the business scale less importance. The feature of thinking globally is quite emphasised in the case of startups – they always seek to align their services and products for people from every walk of life, startups even ignore the boundaries between the countries trying to reach global recognition and demand.
2. Be agile!
The uniqueness and main ‘sponsor’ of the success of many startups is the fact that they act fast and in comparison to the small businesses, who rather cling to what they are used to do. Startups are more open-minded and are not concerned with the idea that future is unpredictable. In the same way, they often offer their employees flexible routines thus avoiding brain drain.
3. Trust the young!
It is interesting to note that the average age of startupers is 23-27. The reason is while the owners of small businesses look for experienced and skilled adults, startup owners often put trust in youngsters full of energy, motivation and enthusiasm, as a result the desired outcome won’t hold back as well.
4. Swim against the tide!
Do not be afraid implement new and creative ideas for your business. Yes, you are right, there is a possibility that the novelty may not gain the cherished popularity in the public, still, the fear mustn’t keep you back from giving it a try as you should fully understand that a possibility of discovering new seas and oceans are purely possible. So reconsider your business model and adapt it to your visions.
5. Listen to your customer’s voice!
It goes without saying that you consider the demands of the market, continuously implement knowledge and new technics into the work, still, one thing that you should always keep in focus is the opinion your customers have generated on you.
A simple Facebook page can make a great assistance for you. Attempt gathering and analysing feedback from your customers and be prepared to accept some criticism (after all it what you are actually looking for) and go on to make refinements and improvements.
To sum up it must be highlighted once more that despite the fact that the startups and small businesses may have different orientations and visions, the consideration and implementation of these steps can be a good assistant on your way to success.
We wish you a good luck and ever-growing business!
Credit: guest post from Reviewsbee.com