Steve Strauss, author of The Small Business Bible, used to work for The Man and he believes in learning from The Man.
“The Man hires MBAs, lawyers and consultants, and those smarties come up with a lot of very good ideas. So one thing I consistently tell small business people is that we should cherry-pick the best corporate ideas we come across,” says Strauss.
To get another point of view, Strauss asked Shawn Parr, CEO of Bulldog Drummond in San Diego to outline some things small businesses can learn from big businesses.
1. Be amazing at execution.
2. Be strategic and forward thinking.
3. Don’t lose touch with your customer.
4. Hire the best.
5. Study their motives.
Regarding his first point, Parr says, “It’s especially important for early stage companies to be deliberate about planning the journey – from development to sale to satisfaction, and to figure out what steps are needed to get there.”
Amen. And let’s hope figuring out the necessary steps includes the creation of marketing plan, even if it’s more draft than plan. Early stage companies tend to be very operational, so it’s not easy to halt, and refocus on marketing, but how customers experience the product or service is almost as critical to the enterprise as the product or service itself.
via: American Express OPEN