There are many business-related areas that small business owners need not trouble themselves with. Concerns about funding an entire new department are most likely not relevant to a small business, nor are worries about cross-country logistics, or the thousands of other business-related concerns that are restricted only for multinational conglomerates.
However, there is a mistake that many small business owners have a tendency to make. In thinking of their company as a “small business”, they choose to set themselves aside from a number of opportunities, assuming that their business is far too small for such opportunities to be relevant. These business owners assume that some things are for the “big” companies and are out of reach of smaller entrepreneurs.
The problems with this way of thinking
It’s easy to see how this mindset could be painted as a good thing: smaller entrepreneurs knowing their place and focusing on opportunities most relevant to their company. However, there is a very real chance that this mindset actually prevents a business from being able to flourish and benefit from a number of opportunities that could truly help them.
Say, for example, that a small business owner is due to embark on an advertising campaign. They have the funds for a full range of print and online advertising, but they hesitate when making the order. As a small business owner, is it really apposite — they wonder — to be buying a large media advert? Isn’t that something that big businesses do?
If you ever find yourself facing this kind of quandary, ask yourself two questions:
- Can I afford this?
- Do I think this will be beneficial to my business?
If the answer to the above questions is “yes”, then have no fear. It’s irrelevant if you want to try something more suited to “big” businesses; if it can help you and it’s within your budget, don’t let your company’s current size hold you back.
Fear of being drowned out
Advertising is just one area where smaller companies have a tendency to restrict themselves. Another is trade shows and exhibitions. Many smaller businesses feel there is little point in attending these gatherings, as they will inevitably be overshadowed by larger, more well-known businesses.
While it’s natural for a smaller company to worry about not being able to compete with bigger businesses, this kind of thinking is counterproductive. Say you don’t go to the trade show or exhibition; you’re not overshadowed, which is good… in and of itself.
However, if you’d decided to go, opted for a great exhibition stand from Open Exhibitions, and worked to attract attention, you’d have increased awareness of your business, had a chance to build network connections, and possibly even found a few new customers. It’s fairly clear that the above benefits far outweigh the discomfort you may feel about being overshadowed by larger companies!
Just because you have a small business doesn’t mean your business ambitions have to be small. Think big, strike out on your own, and be willing to showcase your company alongside larger competition. With time, there’s no reason your “small” business can’t one day grow to match, and then exceed, your larger competitors.
*This is a contributed post