Will Small Business Ever Rule The World?
Have you been to the grocery store lately? You might be inclined to believe that there are so many brands. However, you are only going by the labels you see. Want to know the truth? Many industries are an oligopoly. That means they are the owners of the brand under many labels.
Just think of the beverage aisles. Coca Cola and Pepsi® practically dominate these aisles. These respective companies just slap different names on their bottles to distinguish between flavors like Minute Maid Lemonade, Fanta, Ginger Ale, and Naked Juice, to name a few. Seemingly it’s as if big business is Pacman, swallowing up smaller businesses like snack pellets.
But wait! I am about to reveal the best tip for small business success!
Business Success Unraveled
Firstly, big businesses do have a socio-economic place. And yes, there have been instances where big businesses have knocked their more minute counterparts out of the competitive ring. However, small businesses have one element that cannot be replicated: exclusivity. It’s that special uniqueness that causes shoppers to gravitate towards the cool boutiques as opposed to the chain department stores. The very thing that gets people to farmers markets instead of grocery stores. A reason why someone will pay more at the neighborhood bagel shop instead of the Dunkin’® two stores down. They will eat the same cream cheese on a bagel. Maybe they will even dish out more dough for lox because the local place just so happens to smoke their own fish on the premises. No one can do it as THAT small business does – it’s yummy!
We Depend On Small Business
Moreover, we depend on small businesses more than we realize. The gig economy is built up entirely of “independent contractors”. These are people who work as their own boss and take on clients through contracts. Gig workers represent their own small business. And their circle is expanding and most likely will grow 300% in the next few years. Many larger companies ask freelancers to take on assignments. This demonstrates how even big business is codependent on small business and not always set out to swallow it whole.
Finally, even in this digitizing world, we still value human connection. No mass-produced robot can replicate the nuances and intricacies of face-to-face communication between two people. No matter how well-programmed it is in understanding a consumer’s requests. The world of consulting exemplifies this. Consumers are willing to spend on specific coaches, consultants, and mentors if they believe in their abilities to give them what they really want.
So, you may ask…
What is the best tip for business success? How do I unravel the secret?
Small Business Will Rule The World
At the end of the day, it’s not a question of whether small businesses will ever rule the world. It’s not even a question of whether small businesses run the world. Small businesses have always run the world. They will continue to run it for they are the genesis and foundation of all business coming from and coming after it.
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