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Managing Small Business Growth by Balancing Big + Small
| Guest post by: Mark Smiciklas |
Article Overview: Growth presents a real challenge for many small businesses. As your organization grows, how do you avoid compromising the personality and characteristics that helped build your business in the first place?
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Free Download - Managing Small Business Growth by Balancing Big + Small By Mark Smiciklas |
Managing Small Business Growth by Balancing Big + Small
Growth presents a real challenge for many small businesses. As your organization grows, how do you avoid compromising the personality and characteristics that helped build your business in the first place?
Act Small, Think Big.
In his manifesto for small business in the new economy (Small is the New Big), Seth Godin has redefined the meaning of small and big:
1. "Small" is a mindset, a way of acting, as opposed to a physical state - Small is not the the size of your bank account, your asset base or the number of employees you have, etc.
2. Thinking "Big" is thinking smart. Big ideas don't have to equate to big budgets and expenses - Big ideas are new ideas.
The secret to managing the growth of your small business lies in understanding/balancing thinking big and acting small. Here are some ideas to get you started:
Acting Small.
* Reach out and stay engaged with your customers (on a regular basis).
* Live your service promise.
* Answer the phone (with a live person not an auto-attendant).
* Respond to website inquiries as fast as possible.
* Return emails.
* Listen.
* Stay flexible.
* Make decisions (the quicker the better).
* Avoid unnecessary meetings.
* Communicate openly and honestly.
* If you don't know the answer, don't fake it.
* Ask for feedback - Survey your clients.
* Use common sense (particularly when spending).
Thinking Big.
* Focus on what your good at and farm out the rest.
* Become your own publisher - share your ideas through a blog, e-book or whitepaper.
* Give away content hat helps solve problems (for free).
* Embrace technology - use tools and applications to work smarter.
* Learn how to use social media.
* Always be trying something new - change is a stimulant.
* Understand your clients and be the best at solving their problems.
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Article Tags: answer the phone, asset base, auto attendant, budgets, common sense, e book, embrace technology, feedback survey, inquiries, live person, manifesto, mindset, new economy, personality, service promise, seth godin, small businesses, stimulant, unnecessary meetings, use tools
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About the Author: Mark Smiciklas RSS for Mark's articles - Visit Mark's website Click here to visit Mark's website   The Small Picture |
Related Forum Posts
My entry
- 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read
- this is a fascinating book about the history of Business theory, and I'd recommend it to anybody.
2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto.
3. PADI: The Business of Diving Book
Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
These maybe the coldest franchises out there:
- Here are the worst 15 performing franchises in regards to having the highest Small Business Administration (SBA) loan failure rates. The list is dotted with sub sandwich shops, fitness centers and car shops.
WORST FRANCHISE LOAN FAILURES Failure %
1 OBEE'S SOUP SALAD SUBS 55.56%
2 LADY OF AMERICA 41.94%
3 COUNTRY CLUTTER (BED & BREAKFAST) 41.18%
4 COPY CLUB 36.36%
5 ALL TUNE AND LUBE 35.71%
6 PICKERMAN'S 35.71%
7 PHILLY CONNECTION 35.59%
8 ROLY POLY ROLLED SANDWICHES 34.78%
9 COTTMAN TRANSMISSION 34.48%
10 HAIR COLOR EXPRESS 33.33%
11 LEE MYLES AUTOMOTIVE TRANSMISSIONS 33.33%
12 GODFATHER'S PIZZA 33.33%
13 SMOOTHIE FACTORY 33.33%
14 BLIMPIE 31.39%
15 GOLF U.S.A. (RETAIL GOLF EQUIP.) 30.77%
Source: Small Business Administration, SBA Loan Performance Within Franchise Code for the Period of FY 2001 - 2005
Re: Biz Plan Competition
- i just wanted to say that posting Small Business Events on CanadaOne is a great resource. Thanks Julie!
Blog pinging
- Thanks Martin - yes, I do ping and it has been very effective. I'm currently on the first page of Google for Mastermind Group and on the second page for Selling to Small Business.
New Small Business Topic
- Hello everyone,
I'm on the lookout for new topics to add to my site. We just launched a Franchising section and are planning Human Resources section. Do you have any thoughts for a new section?
Here's a list of what we currently have:
Angel Investors
Branding
Bank Loans
Business Coaching
Business Plan
Franchises (New)
Insurance
Legal
Marketing
Public Relations
Sales
Small Biz Loans
Venture Capital
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