{"id":18673,"date":"2016-01-05T16:22:35","date_gmt":"2016-01-05T21:22:35","guid":{"rendered":"https:\/\/www.wework.com\/creator\/?p=18673"},"modified":"2020-03-30T22:59:48","modified_gmt":"2020-03-31T02:59:48","slug":"7-reasons-to-keep-your-business-small-and-scrappy","status":"publish","type":"post","link":"https:\/\/www.wework.com\/ideas\/professional-development\/7-reasons-to-keep-your-business-small-and-scrappy","title":{"rendered":"Seven reasons to keep your business small and scrappy"},"content":{"rendered":"

\u201cGo big, or go home.\u201d<\/p>\n

Are you ready to adopt that ubiquitous phrase as your mantra for the new year? After all, small businesses are taught that we should scale, replicate, partner, and grow into something so much bigger.<\/p>\n

It\u2019s thrilling to dream about how you\u2019re going to be the next big thing. You\u2019ll ring the bell on Wall Street when your freshly minted stock surges on the opening day of trading, become a household word, and create a legacy that outlives us all.<\/p>\n

If you\u2019re the next Bill Gates, Elon Musk, or Mark Zuckerberg, then going big is your destiny. But after working with hundreds of new companies over the course of my career, I have to let you in on a little secret: the odds of becoming the next big thing aren\u2019t in your favor. Some of your companies will be gobbled up for a fraction of what you thought they were worth, and others will just shut the doors with hardly anyone noticing.<\/p>\n

But what if you just want to live in the moment and savor the simplicity of a streamlined operation, focusing on net profits rather than gross revenue? Does it mean you\u2019ve failed?<\/p>\n

Quite the contrary, especially when you check out the Hartford\u2019s annual Small Business Success Study<\/a>. Turns out that most small business owners are a conservative bunch, with 55 percent of respondents saying their primary goal is to maintain their current size. The number whose main goal is growing the business has decreased from 41 percent to a relatively paltry 33 percent.<\/p>\n

You might argue that these companies are hardly the next unicorns. The survey includes a lot of restaurants, dry cleaners, and construction companies, but they have important lessons to teach all of us about leading profitable and sustainable businesses. Moreover, they\u2019re feeling good about their companies, with 73 percent of respondents reporting that their business is operating successfully. They\u2019re not going for broke and then winding up back working for the man. Instead, they are building long-term independence.<\/p>\n

So rather than aim for the sky, consider the many benefits of being small and scrappy. Enjoy the business, financial, and lifestyle advantages of growing organically. Here\u2019s a few of the tangible benefits you\u2019ll discover.<\/p>\n

You\u2019ll be fast and nimble.<\/strong> You can damn the bureaucracy and politics that bog down most big organizations. Instead, you can be like a speedboat that runs circles around a battleship.<\/p>\n

You\u2019ll be in demand. <\/strong>When you\u2019re a big beast, there can never be enough business. When you\u2019re smaller, you\u2019re in demand and customers want you more.<\/p>\n

You\u2019ll be responsible. <\/strong>You can follow your own moral compass about doing the right thing and follow ethical business practices. When you don\u2019t need to feed an army of staffers, you can just say no to irksome people offering lousy deals.<\/p>\n

You\u2019ll be large.<\/strong> Ironically, when you keep things small, you can afford to be large. Rather than being part of a corporate behemoth that cuts costs to the bone, you can be generous to your staff and give back to the larger community.<\/p>\n

You\u2019ll do more quality work.<\/strong> Rather than just cranking it out, you\u2019ll have the chance to take pride in what you do.<\/p>\n

You\u2019ll be more in control. <\/strong>Face it, you\u2019re a bit of a control freak. If you\u2019re a founder and try too hard to get too big, you might be haunted by the lyrics from this song from the \u201880s band 38 Special: \u201cYou\u2019re gonna lose it, you\u2019re gonna lose control\u2026. And usually it\u2019s too late when you realize what you had.\u201d<\/p>\n

You\u2019ll have more fun.<\/strong> And I mean at the office and everywhere else. If you want to take the day off and make your own tracks on fresh powder snow, you can get away with it.<\/p>\n

You\u2019ll be more profitable.<\/strong> Isn\u2019t that what the business comes down to? To hammer home the point, let me share a lesson I learned long ago from my first business. At my first PR firm, I was striving to reach $2 million in annual revenue. It was December of 2001, the market had already started tanking, and I was only about $100,000 away from the goal. My genius accountant, Steve Frushtick, said he\u2019d make me an offer: \u201cI\u2019ll write you a check right now for 100k, then you\u2019ll turn around and write me a check for 100k. Are you better off? Of course not!\u201d<\/p>\n

Like a leader asking the electorate during an election year, will you be better off being big? In 2016, you should run the company you want rather than the one people say you should want.<\/p>\n

Photo credit: Lauren Kallen<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cGo big, or go home.\u201d Are you ready to adopt that ubiquitous phrase as your mantra for the new year? After all, small businesses are taught that we should scale, replicate, partner, and grow into something so much bigger. It\u2019s thrilling to dream about how you\u2019re going to be the next big thing. You\u2019ll ring […]<\/p>\n","protected":false},"author":1360,"featured_media":34651,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[43902],"tags":[],"class_list":["post-18673","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-professional-development"],"acf":[],"yoast_head":"\nSeven reasons to keep your business small and scrappy<\/title>\n<meta name=\"description\" content=\"Turns out that most small business owners say their primary goal is to maintain their current size.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wework.com\/ideas\/professional-development\/7-reasons-to-keep-your-business-small-and-scrappy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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