Source: quickbooks.intuit.com | Re-Post QBScott 10/4/2017 –
From Hewlett and Packard to Jobs, Wozniak, Page, and Brin, the classic Silicon Valley startup narrative follows a common story arc: In just a few years, friends go from building something in a garage to capturing the world’s attention. Take Amazon, for example. Originally started as an online bookstore, it’s now the world’s largest online retailer. With its recent purchase of Whole Foods, Amazon is inching closer in the race to become the world’s first company worth $1 trillion.
Stories such as these have convinced many aspiring entrepreneurs that if they don’t start off with global ambitions, they’re doing it wrong. In truth, most entrepreneurs find success and lasting satisfaction by staying small. There’s nothing wrong with realistic growth goals, or even a desire to “go big.” But, you might just discover over the coming years that embracing your small size is the key to accomplishing more.
The ‘Barbell Economy’
More than a decade ago, McKinsey Global Institute predicted what it called “barbell industrial structures.” These described a world with a few global corporations on one end and a large number of small businesses on the other. In this structure, mid-sized businesses would thin out and become nearly obsolete.