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Global Small Business:How the Mighty Succeed(Despite Harsh Economic Times)
Remember when you were a teeny, tiny business — a one-man or one-woman shop — where you wore every hatimaginable to get a job done? You would proudly announce, “There is no job I won’t do to grow my business!” Fast-forward to where you are now and where you wouldlike to be in the future. That’s what this article is all about.As a successful SMB, you’re already “faster than a speedingbullet …,” energetic, enthusiastic, adaptable, flexible,
 
accessible, decisive, nimble, innovative, responsive — inother words, pretty mighty already. But, all thingsconsidered, are you strong enough to continue driving yourbusiness results to the next level?In the beginning stages of running a business, the growthcomes easily because that’s why you started a business inthe first place: to sell what people want. And withtechnology, as international opportunities abound, yourespond and quickly declare, “I am a global small business!” But then somewhere along the line, year 3 or 4, you getstuck. We all do. And with the current economic climate,you may feel it now more than ever. It may be that anemployee problem takes away your focus; the economydestroys every existing and new business opportunity; oryou feel you can’t take your business to the next era of growth. Whatever the case may be, and despite these harsheconomic times, you must learn to master how the mightysucceed.Here are six super tips to update your business and help youbecome leaner, stronger and poised for greater growth inthe coming years.Super Tip No. 1: Be rigorous about contacting existing andprospective clients to relearn and rethink what customersvalue and to find out how you can be of further service. Callthose you are comfortable calling. Email those who preferthat method of communication. And socialize online withthe rest (Twitter, LinkedIn, Facebook, etc.). Offersomething new or different that they didn’t know theywanted and that can’t be refused. Go after a new customermarket with the same skills and a well-crafted message.Grab more sales.Super Tip No. 2: Use technology as a competitive strategy.In our last article, “10 Ways To Transform Your Web SiteInto A Dynamic Two-Way Communication Tool,” we
 
examined ways to balance the flow of your communicationsand build your customer base to drive profits for yourbusiness. McKinsey & Company takes a different yetfascinating approach on innovation with “Using Technologyto Turbocharge Innovation In A Downturn(http://tinyurl.com/m5t6rk).” If you apply McKinsey & Company’s theory about folks using technology to connectwith people, share knowledge and collaborate on projects atan ever-faster pace, you will set the stage for a new era of growth for your business. Hard times can drive innovation.Technology matters.Super Tip No. 3: Look beyond established customers andmarkets. Many folks think the BRIC acronym — Brazil,Russia, India and China — represents where the action isand that an SMB should look there for new growth.According to a recent
Wall Street Journal 
article(http://tinyurl.com/kl95lp), the next five countries that mayovershadow BRIC are Turkey, Mexico, Nigeria, Iran andIndonesia because they have large populations and are ableto create sustainable domestic demand without needing torely on exports. Are you looking at these countries for yourSMB? You should. Start here:http://www.buyusa.gov/home/export.htmlSuper Tip No. 4: Get back to basics. This is a time to buildon your strengths, not dwell on your weaknesses andcomplain about why things aren’t working. What made yougreat in the first place? Reflect on those early one-(wo)manshop days and ask: Are we the best at what we do? If youcan honestly answer, “Yes,” you are on a path to a mightyfuture. However, if you cannot answer, “Yes,” be brutallyhonest and ask yourself why. Rethink what you are doing.Eliminate weak revenue streams, product or service linesand profit centers and get back to basics! Starbucks, forexample, is doing this very same thing in its stores(http://tinyurl.com/q38z24). Don’t wait until it’s too late.Return to the soul of your enterprise.
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