SME Focus

Lessons from Small Businesses to Big Guys

People have a belief that once they reach a certain higher stage in life, they have nothing to learn from those who are still making the journey. The same rule applies in the business world where the big guys in business believe that when they have reached the level of being called a large corporation, they have nothing to learn from the small companies. But this is not wise. There is always a lot to learn and one cannot actually say that maybe someone who is struggling has less to teach. Sometimes it is the simplest of lessons coming from the humblest of beginnings that provide the solution to a big problem.
Following up from this note, the big guys in business must not imagine that they know it all. The small businesses has a lot to teach them.

Here’s Why?

• Small businesses has a fresh approach to the old things in life
• They are open to experiment
• Small Businesses have the adventure in their organisation to take a
calculated risk that might change the way we know the business world

Here is a look at how small businesses are handling the problems of the big corporations in a better way than the big guys can even think possible.

Hiring and Retention:
Hiring and Retention is one of the most important part of a business. It is the quality of people in business that decides the future of the company and it is very important that businesses hire the right people and retain the good ones from moving on. Retention is one of the most difficult challenges that every company faces.

How do small companies retain their employees and what can large corporations learn from them?
Hiring in small companies is not as mechanical as it is in the large companies. Small companies make sure that they are hiring the right person in the first place. A small company is always brimming with a lot of passion and this passion in the organisation helps the management to decide whether they are hiring people who are equally passionate about their work. It is old news that people who love their work has higher chances of excelling in it and getting compatible easily with the company culture.

Small Companies make sure that they are hiring the right person with the right inclination towards their business culture. One can say that maybe it is the size of the company that help them to choose the right person easily.
The small business family is a close knit one with everyone knowing the other a little more. It understands that things like paid vacation, parental leave, sale bonuses and other such things help to keep employees happy. They go that extra mile in their own way and create a bond that transcends beyond the organisation.

What can the big guys learn from them?
It is important to interact and personalize some things in the company. A company that feels like family, a company that recognizes people as human and a company that truly takes care like a guardian would naturally have employees wanting to stay.

2. Welcoming New Technology:
Small businesses are more open to adopting new technology than the larger ones. The reason is small companies do not need to make a quite a lot of changes to accommodate the new technology.To give an example, the simple task of switching from the traditional storage on servers to moving to cloud in itself is an enormous task for the big businesses. The small businesses however do not need to go through a lot to make the shift.

Small companies given the fact that they are always looking at improvising are welcome to accept the new opportunities in business. Big corporations having established themselves are a little slow while welcoming new technology. The approach is cautious and because of the big size the process is long.

What can the big guys learn from them?
The big guys can learn to be more welcoming towards new technology. It is old news that technology shapes the business world at a very fast pace. Big corporations should keep in mind this and make their corporation able to implement technical solutions as flexibly as the small corporations.

3. Time Management:
Time management is something that all organisations struggle with. The small organisations need to struggle a little more because of the need to perform, the cutting edge competition that threats their business and the passion to emerge as an established organisation that keep on egging them to do more. The pressure of bringing their act together is more complicated than what the big corporations might face. This comfort brings about a laziness in big corporations and even after years of establishment big organisations still struggle with time management.

The small companies geared with the passion to improve and make the mark keep a tab of all the things that needs to be done.The things that do not matter they do not lose much time on that but immediately remove it from their to-do-lists.

What can the big guys learn from them?
The big corporations must learn that no matter how established they are they still need to keep a tab of things that matter and not waste more time focusing on things that do not matter to them. Big corporations often find themselves in situations where they spend endless hours focusing on working out things that they know they won’t follow up with anyway.

The small organisations have a lot to teach the business world. It is not wise to assume that big corporations know better. Things evolve everyday and the small companies are the ones that evolve with the changing times. Be it a technology or an attitude, the small companies have a lot to teach the one who has gone before them. The small companies moreover are teeming with fresh ideas and talent and a passion that routine has still not being able to simmer. This makes them the perfect business coach.

About the author

SPI Group

An integrated platform created to serve entrepreneurs and service providers. SPI engages with over 100,000 Entrepreneurs & Senior decision makers through a unique combination of cutting edge business magazines, high profile B2B summits and conferences, strategic alliances with Govt, business associations and government bodies. SPI also leverages the power of digital marketing and social media.

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