Small Business and the 21st Century ……. business Face to Face
Value of seeking experienced mentors
There is an incredible paradox about the small business environment looking into 2020. In the past 20 years or so, much of the personal contact a business owner had with customers, suppliers or other businesses, has moved from ‘face to face’ to some form or other of ‘wireless communication’. It is efficient and transaction-oriented and has unleashed incredible opportunities for new businesses, quicker response times for existing businesses and abilities for mass one-way communication beyond most people’s wildest imagination.
In 2020, if you want facts or some common ‘how to’ information, the internet has a wealth of data to share at low or no cost. All very good…..
The outstanding question is: “how does a small business person give strategic thought to growing and financing his unique business and get his head up from all of the detailed and generally fruitful transnational world to look at his or her own big picture?
Big companies have large senior staff member contingents with whom to confer. As well, they have the availability of large numbers of outside consultants to work with on market penetration, longer term financial management, and personnel acquisition.
A small business person has few or no others in their company to talk with about strategy. His or her spouse or colleague or peer may be a discussion source; industry conferences are available for ideas. These channels are good but may have neither the depth nor the focus that is required to scale a business.
Communal offices in tech companies have proven essential to facilitate collaboration in the very detailed work that is the life blood of the company. Boards of Directors with diverse backgrounds are the foundation of good business strategy in large companies.
It is essential to discuss your business strategies with knowledgeable business people. You do not want people who approve of your strategies only but those that can investigate your strategies for business and come up with great working solutions.
ASE is an example of a platform which provides another ‘outlet’. A business owner, needs a forum of confidentially, discussing the challenges and opportunities of that business. A group, as ours, may consist of not only business owners but lawyers and/or accountants; all coming together to focus on your business and your business only.
Good strategies form over time. The continued consideration of alternatives as well as focus on important elements of the business are needed for success.
When you are ready to answer the question asked above “how does a small business person give strategic thought to growing and financing his or her unique business and get a head up from the detailed, and generally fruitful transnational world, to look at his or her own big picture?”, it is time for the face to face communication about your business. It is the help you need for getting over the humps and issues unique to your business and, very importantly, to drive your business forward.
Your phone, though ‘smart’, and your computer, though it may go everywhere with you, do not have all the answers for the future of ‘your’ business. Fletch Keating ASE