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The phrase “small business” is a descriptor, nothing more… and yet. For entrepreneurs who are contemplating starting what will become a small business, the word “small” can sometimes make them feel a little, well, small.
It’s often tempting for new business owners to think according to the size of the business. If an entrepreneur is imagining world domination, they will have big plans right from the outset; an ambitious business plan saying that even the sky isn’t the limit for what their business can achieve. However, if someone is working to launch a small business, their ideas – and most importantly, their expectations – can be rather small too, which can greatly underestimate the power of their business idea.
From humble beginnings
If you have found that you’re struggling to see your business as a fantastic viable idea that could one day conquer its niche, consider the fact that the vast majority of what we now call “big” businesses simply weren’t big to beneath with. Very few companies start with a huge number of branches and a multi-million dollar investment. Most start largely as you are intending to start; with a good, scalable idea that they hope will succeed.
It therefore naturally follows that you can follow in the footsteps of the successful small businesses that went on to great success and growth in their niche. All you need to do is tweak your thinking.
Always ask yourself: “can this grow with my business?”
When starting a small business, it’s tempting to opt for things like outsourced services, staff members, and suppliers that suit your business right now. This, however, can be problematic if your business begins to succeed and grow, especially if you are locked into contracts.
It is therefore imperative to ask, throughout the process of establishing your business, whether there is room for growth. This applies to every area of your business, including – but not limited to – the following:
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- Your premises. If your business operations were to expand, could you extend your premises? Look for a rental contract that allows you permission to build or, at least, does not penalize you for ending the contract early so you can move to a larger space.
- Your outsourced services. In particular, your IT requirements; look for managed services for businesses of all sizes, so you can be sure of finding a company who can handle your needs as a small start-up, but also grow with you over time.
- Your staff members. Multi-skilled staff are a great choice if you have business expansion in mind; consider hiring those with a range of skills, or at least individuals who are willing to upskill while working for you.
- Your website hosting. While the design of your website can initially be rather basic, ideally, you need a hosting package that can handle a much larger site and traffic in time.
In conclusion
If you’re working to launch a small business, the word “small” needn’t be a downside. In time, aided by choices such as those described above, your small business could grow into a very large – and very successful – enterprise indeed.