Developing a Small Biz

There are many articles, posts and briefs about the successful techniques for marketing the Startups. Yet, many of them struggle, particularly during the pandemics lock downs; which astonishing numbers of who had shut down and went back searching for job vacancies.

The Startup are the new brand of the Small Business; which usually comes within SME sector. Startup is a more appealing term and definition of something to be born and should grow to maturity, then wealth and fortunes. This definition suits more the young entrepreneurs who dream of quitting the pay-cheques into more meaningful and exciting practices of earning living. Startup is more likely implementation that Sky is the Limit. Yet, Startups or Small Biz are very fragile against market or economic storms.

Despite the rapid growth of invest-frameworks that includes various “Angle Investors”; who understands both risks and potentials of Startups and are ready to be patient and supporting till the goals become achievable. This had had been proven in all big brands since late 1990; whereas the little investments turn to be billions in today’s money and exchange.

Entrepreneur's Passion is the Major Uniqueness of Startups

The above graphic illustrates the “7Ps” for the business marketing, which would apply to all grades and types of businesses. Yet, there are another “7Ps” for Developing the Startups:

• Passion: What you want to Do? 
• Product: What Customers want?
• People: Who are the Customers you want to serve?
• Position: Where are you; or want to be in the Field?
• Practice: How strong your Knowledge and Network?
• Pricing: What is you Strategy; Don’t be greedy?
• Profit: Shall it be Reasonably good?

Despite how this questions shall be illuminating and eye-openers for many who explore the arena of Startups, yet; there is one key element; which many advisors had ignored:

"The Personal Communications"

When a person aims to build something that would turn to be big; certainly the “7Ps” shall be a roadmap to follow and certainly will take the person t where to excel.

But if the person wants to build something small yet sustainable to feed a family and provide reasonable level of welfare; there will be a different and easy roadmap to explore.

The Business that aims to turn into a branded corporate will inevitably have a structural setup that would apply various and tested models of management, investment, production, marketing and sales. This will also and gradually recruit many people with various skills and qualifications. There will be many assets to acquire and many systems to install and operate. This will be a multi-million-dollar journey; which will grow with no limit but ambition and market exchange operations.

The small businesses; has more than 70% of the startup entrepreneurs; who strive to build and manage; will go through a simple yet an effective roadmap. I call it 4S-Roadmap:

• Specific: Apply Market Sensitivity models to explore what Peoples’ need
• Support: Use the personal communications to obtain tolerant access
• Supply: Utilize the professional knowledge provide the planned services/products
• Sustain: Improve your USPs to gain the Customers’ growing loyalty

The importance of Small Businesses indicates that it employs more than 30% of the workforce, while represents equal share of SME sector; which at the end would represent equal share of the GDP. In addition, it focuses on the imminent living needs rather than any 2^nd priority. Therefore; it includes grocery stores, cafes, family appliances, laundries, garments, stationaries, etc. You can imagine that truly 30% of the population survive on these economic cycles; whereas many regulations are inactive and informality rules.

In addition; Small Businesses usually recruit low-skilled or non-skilled people, who are majority in the underdeveloped countries. These are often migrants from rural areas to urban centers in search for doing something and achieving simple dreams.

In terms of Assets and CAPEX, the small businesses require investment not more than US$ 10-30k; while the OPEX are mostly funded by revenues and paybacks. Therefore; RISK assessments are commonly low and probabilities are low as well. 

These are the socioeconomic briefs of the small business; which many visionaries support and advocate. These article was driven by a deep thinking on the role of Facilities Management industry in our underdeveloped economies..