What can big companies learn from small businesses?
Thanks to Kathy Osborne, Head of HR at Barratts Priceless Ltd for contributing this.
Having spent most of my career working in large organisations, I spent a couple of years running my own business before moving back into the corporate world. That time was invaluable to me for all sorts of reasons but I recently got to thinking about some of the lessons I learned as a small business and how easy it is to forget these once back in a larger company. Some of the things which small businesses do really well:
Listen: As a small business, you really have no choice but to listen to the feedback from customers or clients. The feedback shapes your future offering and ensures that you are always focused on meeting your customers needs. It’s too easy for large businesses to forget this vital element, getting caught up in internal strategy and business plans. Whilst it’s really important to have such plans, taking time to gather feedback from customers and clients will tell you if you’re actually meeting their needs effectively and gives you the opportunity to review and refine your offering. As much as I had an affection for Habitat, they clearly were not in tune with what their customers wanted to purchase.
React: The great thing about a small business is it’s ability to react quickly when you spot an opportunity or a problem needing a solution. There is no hierarchy and structured decision-making panels. You just make it happen. Quickly. Too many large organisations are rendered inactive by the frustration of having to follow a set process. Of course, without some kind of structure, chaos can quickly ensue but the trick is to keep the right level of agility and to be flexible enough with processes in order that great ideas and innovations don’t get strangled at birth. Empowering employees with some level of decision making, giving them ‘permission’ to influence certain aspects of the business can be very effective.
Shake it up: If you’re a small business, you choose your own suppliers very carefully and don’t hesitate to switch if you’re not getting good service or value for money. A lot of large organisations tend to stick to similarly large suppliers regardless when it comes to services and products needed to run their businesses. During my period of self employment, I came across many small businesses who are more than capable of providing services etc to large organisations but they don’t always get the opportunity. I have proved to my company that using some of these ‘smaller’ businesses has saved money and often provided something more innovative and refreshing than sticking to traditional suppliers. Let’s face it- smaller businesses tend to be more ‘hungry’ for the business and take a personal interest in delivering to their clients. I’ve enjoyed shaking it up and will continue to do so in the future.
When so many large organisations are finding things difficult at the moment, I really think the small business has a number if unique qualities which, if delivered correctly, will help them to succeed, possibly better than their large counterparts.
Yet another ‘professional’ social networking tool launching
I still haven’t registered on BranchOut - despite many many requests to do so and I didn’t do anything with all the Emails I was receiving a few weeks ago asking if I was taking on new clients (what was that one called?). So surprised to see that yet another professional social networking tool is launching tomorrow. Called BeKnown it is, just like BranchOut, launching as a Facebook app. This one has some pedigree though, as Monster, the online job search site is behind it. They are using Facebook as it makes no sense to reinvent the wheel and most people are already on Facebook. They are also using some gamifying stuff, such as badges for professional achievements - it will be interesting to see how that translates to a professional network. When BranchOut launched I wasn’t sure if there was a need for it as LinkedIn and Facebook already exist. Is there even room for any more?
Connected - has it finally cracked contact relationship management for the social media world?
Been having a look at Connected - which claims to offer contact management without the work and I reckon this has got promise. I know we’ve been here before (Plaxo never seemed to live up to it’s original potential particularly) but Connected seems to do a very good job of keeping all of your contacts in one place, plus keeping a record of your communications with them (E-mail, Twitter, Facebook, Google Voice, LinkedIn) and even E-mails you if they have a job change (LinkedIn), it’s their birthday (Facebook) as well as linking their contact record to any relevant news stories on the web. I like the look of everything about it except the price, at $9.99 per month it is going to have to offer real value, but it has got a 14 day free trial, and includes a mobile app and a Gmail sidebar, both of which could be useful. Trying also to work out where the crossovers are with Rapportive although that seems much more Gmail focussed to me (which suits me just fine). Anyone else using it?
My call answering service just paid me £120
You might all know that JAM only charge £1 per call for their Pay As You Go Telephone Answering Service. You might also know that they have a fab online setup which enables me to manage how my calls are answered and exactly which message my callers are given. But you might not know that JAM also pay their customers. In fact James Millman has just written me a cheque for £120.75 - just for passing on their details to my contacts and clients.
The secret to networking?
Not sure I agree with this? Seems to suggest that there is always an ‘angle’ to your networking, that you do everything with the intention of getting something back?
Live music brings about £1bn into the UK economy
I know I’m a big fan of live music and go to lots of gigs every year. I didn’t realise quite the effect it has on the UK economy with a total spend of £1.4bn by overseas “music tourists” every year, resulting in a ‘positive contribution to the economy’ of over £850million, sustaining 19,700 jobs.
