Entrepreneurs: It’s Still Good To Be Small
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.
Author: Scott Meister, CPA
I help small businesses, accountants, bookkeepers, office managers, and business owners with their accounting needs. I’ve used QuickBooks since 2002 and train folks on how to use it efficiently. I create high-quality video training tutorials for QuickBooks and post them on QBScott.com.
Certifications include: Certified Public Accountant (CPA) | Certified Bookkeeper (CB) | Advanced Certified ProAdvisor for QuickBooks Desktop | Advanced Certified ProAdvisor for QuickBooks Online | Certified ProAdvisor for QuickBooks Enterprise | Certified ProAdvisor for QuickBooks Point Of Sale