Don’t resent your small beginnings? After all there are great benefits in being a small start-up business competing against a multi-national? Business Culture is one. Often this can be seen in the on-line space with business start-ups appearing out of nowhere and beginning to compete with large established businesses who have huge resources, infrastructure and staff.
The meteoric rise of Groupon would be a classic example. The mighty Google who are firmly established leaders of the advertising on-line space, attempted a coupon facility for its business customers, but failed to deliver and generate the market share that Groupon has now established. Groupon with their fun start-up culture, and humorous founder was able to take advantage. But hold your hat; that certainly does not mean that Groupon will remain safe, and we have seen this with the troubles they’ve had in recent years. Someone else can quickly come up from behind them. The battle between small and big will continue.
So firstly, what are some of the cons of being in a small start-up or being a small organisation?
You can get run down by larger competitors;
You can run out of energy and pedal power;
You lack financial reserves to draw from;
Your team may lack experience and collective wisdom;
When it gets stormy you are exposed;
You’re taking very little cargo with you, therefore there can be a huge amount of work for potentially little reward.
The pros of being in a small start-up mean that you can move faster and change direction easily;
You don’t have to submit decisions laboriously up the management chain and wait for venture capitalists or major shareholders to discuss them;
Your team can easily communicate to each other;
There’s nowhere to hide. You are exposed and everyone needs to give their all;
You can waste less energy finding things cheaper to run;
You can stretch every last pound as far as you can;
There’s a spirit of camaraderie, hope and optimism if the company has landed upon a great idea.
You have more space to think, without as many external pressures to make sure the decisions you are making are the right ones.
So whether you are a business start-up or a cog that’s a part of a larger organisation, try to think about the ways that you could work as if you were small. Make sure there’s passion and zeal within your team and focus clearly on the goal ahead. Within it all keep work fun.
And in the drive, the ambition and the hard work, make sure your ‘modest size’ allows you the space to be driven as much by ideals, dreams and aspiration as much as by routine and obligations. It’s hard to re-introduce these when you get bigger, but when you are a small start-up, you believe you can change the world. And every now and again someone does.
If you’re a part of a small team, what are some of the other advantage you face in your working? Please add your thoughts and comments below.