Is it good to base a business on a small-business model?
So I’m thinking about making a business plan using small business as the model, instead of big business. My thinking being that there’s plenty of big business, and the market is over-saturated with chains and watered down versions of the original business. I think there’s a type of fatigue over big business, and that the market will shift to smaller business, with better customer service and so forth.
All the stuff I’ve read seems to be pushing me to base my business on a big-business model, streamlined and efficient and the most profits.
So is it a good idea to base my model on a small business, or should I give in to the literature and assume that it’s right? Does the literature guarantee more success?
Thanks for your thoughts.
I should say that I mean starting a business as a small business and keeping it that way, no growth, no megacorp, just keeping it based on a small business model throughout.
Everything in the literature says to go big or go home, but the market tells me otherwise, so that’s what I’m trying to figure out.
Tagged with: base • Business • good • Model • SmallBusiness
Filed under: Small Business Plans
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I run numerous small businesses and the first thing to base your business model on is “What do you want to do?” Make the business work for you and your lifestyle. You shouldn’t be a slave to the business. Most business models suggest worrying about the money first and then the business owner and their life and family second.
That is why so many businesses fail. I wrote an article called Life Plan First then Business Plan. It might give you a different perspective then the standard business model.
http://www.home-based-business-solutions.com/business-plan.html
Skip the literature and find out what works best for you first.
Good Luck
In response to your question . . .
A word of advice! Be wise my friend and make small leaps rather large ones.
Wisdom is definately a virtue. With a small business, it gives you a chance to work in smaller steps and allows you to test the market as you go. You will become a sound business man and you can afford the little trial and errors instead of the bigger ones (setbacks). You have to crawl alittle before you can walk. That way you gain more in detail and wisdom. You will learn from your mistakes as well as having a better feel of the ecomony, both past and current trends etc.
I encourage you to seek out the advice of CPA and business attorney before startup. Who knows perhaps your business in a few years will become prosperous, and a mega corporation will want to pay a large sum to buy your company.
(Just food for thought here.)
The economy in the US of A is so unpredictable, if you live here. Understand your weaknesses sucha as, business management, organization, financial management, marketing/advertising, IT, etc. Know your needs and build towards towards them.
I’m assuming you are age 30 or younger. If so, your generation seems to lack patience. The keyword is PATIENCE. If your small business hasn’t grow into a larger corporation (if that’s your gold), then its time for a reassessment. The thinking is–first devise a winning profitable system. This is also a keyword–SYSTEM. Learn and perfect each step in your system. When you become sucessful, duplicate it. Another keyword DUPLICATE. This is the secret to franchising such as McDonalds, Staples, Walmart, etc.
I hope I was of some help . . .
Take Care
PS – Being in business takes wisdom, luck, patience, intelligent guesswork as well as the facts. Put them all together in a shaker and what do you have?
Your basic instincts
Of course you could alway rely on God.