Small is the new big. But don’t take my word for it. I’ve often said, “You don’t need to be the smartest guy in the room, you just need to know where to get the answers.” So here are some people much smarter than me who’ve got my back:
Peter Bregman said it this week in his blog post for Harvard Business Review.
The gap of confidence between small companies and big ones is growing. We used to rely on the security of big companies. That’s why we worked for them. And hired them. And put our money in them.
But with the virtual collapse of AIG, Lehman, Citibank, GM, Chrysler, and many more — now even GE is in trouble — all that’s changed. Now it’s a risk to do business with the big ones.
We simply don’t trust companies anymore. We trust people. And in big companies, it’s hard to even find a person to trust as we scream “operator” into our telephones only to get transferred to another menu whose options have changed.
That gives small companies a huge advantage.”
A little too scientific coming from a bastion of brain cells like Harvard? How about a man on the street view? Specifically my home state of Virginia (shout out to my homies from out here in Seattle!).
This article from America.gov shows small companies thriving during a recession:
They didn’t overextend themselves. They provide good service. And they make sure they are in a market with customers who really need their goods or services.”
These stories all point to something that we entrepreneurs all know, that small businesses are resourceful, tenacious, and there IS no bailout for us. We have to make it work–we don’t have a choice. We can’t just pack it in and go home.
How is this meaningful to you as a marketer? I’ve shown, in this very blog how small specialist shops are more nimble and will lead the marketing industry in new business wins as marketers are forced to do more with less.
But again, don’t take my word for it, listen to someone smarter than me. How about the owner of the best ad agency in the business? This week Alex Bogusky echoed exactly what’s being said by many others: that tiny can out maneuver huge. At long last, the small agency is becoming a forced to be reckoned with.
The smaller agencies that make up part of that 75% and will be doing the marketing to help lead us out of recession deserve a tip of the hat. The reality is they can do things for their clients the big monster shops can’t. With fewer people and less overhead, they offer the nimble and fast approach to problems a lot of nascent brands need.”
Small will win big! Don’t say I didn’t warn you.