I was required to submit a document on my views of small-business success for my scholarship application. I gave it some thought to what I think all small businesses should practice, especially IT solution providers.
Do let me know your thoughts, if you have any!
I have been working in an SME environment for the past 13
years, serving mainly the small and medium organizations and business in the
area of IT support and systems integration. Looking back the past years, what
helped me stay in my current job, even with it’s ‘below-market’ salary, is the
fulfilment, family oriented working environment and support, both in and
outside of work.
Every business is made up of people, young and old, everyone
in the workforce desire in one way or another a desire to be recognized,
appreciated and feel that their effort is worth something in the society or at
least, the community they are in. As such, any businesses small or big, should
put its value first and foremost in the people instead of profits and systems.
With the right people, equipped with relevant skills and filled with great
attitudes, any organizations will grow and flourish.
As such, the five important attributes that all SMBs should
have are:
1)
Focus on building the relationship aspect in the
business
Every business opportunity or
employment opportunity should first and foremost be focused on building a human
relationship above profitability. Every business deal should involve a certain
amount of profit that can be used to grow a company, yet the more important part
of the business is the continuity of future business by building great client
relationships.
Every employment opportunity should
benefit the company in building a suitable team to grow the business, yet every
staff should be treated with respect, care and a desire to build a healthy
‘family-like’ working environment.
2)
Pace the growth of the team and fill positions
with capable managers
Every business is either growing or
failing. A stagnant business is always leading to its downfall. Personally, I
feel that leaders within the organization will be required to raise leaders
that can lead others before any headcount expansion. Great companies require
great leaders to run the people within the organization. While many small
businesses desire quick growth, the more important criteria is the longevity
and ability to sustain during difficult times in the economy. The only way to
do that is to ensure growth in a pace that is manageable by key leaders in the
organization.
3)
Be willing to take feedback and change in accordance
to the market
Any organization big and small need
to respond and evolve to survive in the current economy. As a small
organization, since there is less ‘red-tapes’, changes should be adopted fast
and responding to a crisis, a snap. Embracing changes and maintaining
flexibility, as well as creating a decentralized leadership structure, are keys
to surviving in a market that is constantly overrun by large multinational
corporations.
4)
Never lose sight of the goal, while constantly
motivate the team
As a small business with a pool of
talents, it’s often easy to deviate from the goal of the business. Every staff
in the organization only has 24-hours of life in a day and to make each day
count, priorities need to be defined, goals need to be set and measured
periodically. Leaders are required to remind the team of the goal they are
trying to reach. Encouragement, support and care should be given to each team
members to know that despite of running towards the goal, everyone is needed to
reach the goal of the organization.
5)
Share the joy and fruits of growth with the team
Remuneration in small businesses may not be
large or regular as compared to large companies, but when it comes, it should
be made known and shared with the key employees who believed and worked for the
success that the organization reached. In times when monetary gifts are not
available, the support to the family, care and concern for the well-being and
development of staff can also be given as a substitute. At the end of the day,
each staff ought to feel that the company makes an effort to appreciate every
individual and everybody is valuable and indispensable to the well-being of the
organization.
I believe there are many other important aspects and
characteristics required to make a business successful. I am quoting the 5 that
are dearest to me, and based on the experiences I had, which has passed the
test of time.
Any thoughts?
Agree or Disagree? :)
