Micro, Tiny, Medium, Big and Enterprise enterprises what does it all suggest? These are the terms employed to describe distinct measurement enterprise, having said that, the definitions range depending on what element of the world you are in. For example, in the United states of america a Smaller Business enterprise is defined as less than 250 staff members. Yikes! That is not quite small. In Europe, Modest Organization is fewer than 50.
Does it issue what category your small business falls underneath? Actually it does. Distinct measurement firms need to have to choose various strategies in beating their problems. Indicating, the measurement of your enterprise will dictate the sorts of difficulties you will experience and the most helpful ways to solve these complications in just a practical time frame and finances.
Let us define what these organization types are, relying exactly where you are about the environment. In the United states, Micro is significantly less than 10 workforce, Small <250, Medium <500, Large <1000. In Europe, Micro is less than 10, Small <50, Medium <250, Large <1000. In Australia, Micro <2, Small <10, Medium <200, Large <500.
Many Micro Business Owners (MBO’s) try to overcome the challenges in their businesses by using strategies that are meant for Small businesses. Therefore these strategies, although very smart and effective, are not the right fit for the MBO. It is like buying a suit or a dress that is the exact style and color you want, but is two sizes too big. You can’t wear it the way it is. You will need to get it tailored to fit, and even then, it may not look quite right. I see this all the time with “wrong size” solutions for the MBO.
So, the first step in helping MBO’s become more successful is getting them to admit to who they are. Go ahead, it’s okay, you can say it: “Hello, my name is (Your Name Here) and I am a Micro Business Owner.” See, don’t you feel better? Our next step is to get our Co-MBO’s to do the same. This will allow us to form the basis of a community. By knowing what we are and who we are, we can then work together at creating greater successes for each other.
As a MBO, your solutions to your challenges are unique from other size businesses. You may have the same challenges Small or Medium size business owners have, but the way you need to resolve them is different. You must be quicker, more flexible, more creative and more effective. You have no room for inefficiency or ineffectiveness.
Growing, interviewing, hiring, managing, leading, developing a team, processes, systems, communication, as well as, marketing, sales and customer service are all an integral part of running a successful business. However, if you don’t know what you are, if you keep following “small business” advice instead of microbusiness advice, you can be hurting or certainly delaying your success.
In your networks, make sure your fellow MBO’s know what they are. Together, we can really make a difference in our own businesses, each other’s businesses, our local communities, our nation’s economies and global entrepreneurship.
