Why "staying small" is the best thing for your small business
Entrepreneurs go into business for themselves for various reasons. From financial freedom, flexibility for stay at home moms, to chasing ones passion. While the decision to go into business for oneself varies, the decision to “stay small” rather than “go big” varies as well. Staying Small can be beneficial for your business for a couple of reasons.
One advantage of having a smaller team is the ability to connect and build with each member on the team, including leadership. With larger organizations you rarely have the opportunity to establish a relationship with members outside of your team because each department works independently. Often times, you never get a chance to meet, work or establish a working relationship with your peers because of the size of the organization. A smaller team gives everyone the opportunity to work together cohesively in a collaborative effort due to it’s smaller size.
You can choose to have the team work 100 % remote, which reduces overhead expenses for office spaces including office rental, equipment, paper, telephone and internet service. With the reduction in overhead expenses, the company can use the financial resources for an office space towards marketing and other investments.
While every member of your team may or may not have either the skills or background for various functions within your organization, you can always outsource tasks. Outsourcing projects you’re unfamiliar with or any tasks you want to offload, allows your team to focus on other areas of the business while key players within your company can focus on their tasks.
Small businesses have the advantage over large organizations as they have the ability to focus on quality control of products as well as service. With an emphasis placed on delivering exceptional service, your organization can compete with larger firms. According to a survey conducted by American Express, “80% of Americans agree that smaller companies place a greater emphasis on customer service than large businesses. American Express Survey, 2011.
Perhaps you don’t have to “go big or go home” as a business owner. You can still have a competitive edge as a small business owner in today’s market while making a great impact in the business world.