Go big or go home.
It’s hard to know where the saying comes from. But the truth is that, when it comes to business launch, most entrepreneurs believe that they need to go all the way and approach the market with a fully functional, super-sized company. While the startup mentality is growing, even small companies can’t imagine launching onto the market without the backup of big investors. But do you need to go big to create a functioning business?
The attitude implies that you need to compete in budget, organization size, and production against large companies. But this begs one crucial question: Why should you compete on numbers when you can compete on quality? While the American Dream suggests that success should include XXL developments, giant company offices, and multimillionaire entrepreneurship contracts, there is another way to build a successful business.
Not enough funds
Money, money, money. All the things I could do if I had a little money, sings ABBA. In reality, you don’t need to break the bank to launch your business. Funding is, of course, necessary. But you can start your first venture on a tight budget. Signing into a franchise opportunity, for instance, can be a money-saving process as you join an established business structure. Alternatively, you can receive funds from relevant business support communities and authorities. Moneylenders also have a plethora of commercial loans available to new companies.
If tapping into your savings is a source of worry, you can consider the journey of large companies such as Apple, Microsoft, or even Google, which have all had a modest beginning in a private garage. You don’t need to start big to go big.
Mass production is not always the best market approach
You don’t need to build a huge production line to get started. Sure, there’s something appealing about driving huge shipping trucks of 26,001 pounds or more to deliver your goods. But ultimately, with mass production comes mass risks, and that includes your liability for any truck-related accident. There are no less than four production methods: Job production, which produces luxury and complex handcrafted items
- Batch production, which means you work in small batches
- Flow production, which involves passing sub-assemblies to different production teams
- Mass production
Depending on your business type and your target audience, mass production may not be the most suitable approach for you.
You don’t need a big team to go far
Managing a large group can be a dream come true. However, in many ways, small teams are the key to success. Indeed, small teams can bring disruption to the market with new ideas and concepts. On the other hand, big teams are more likely to develop existing ideas further. Innovative designs and products are likely the results of small teams at work. While it’s not to say that large teams don’t have a significant role to play, small businesses are more likely to get noticed through their new and exciting inventions.
In conclusion, there is no such thing as go big or go home when it comes to business launch. You can go small and build success, as well. For new entrepreneurs, starting with a limited team, budget and production can help to establish a structured management strategy. After all, why should you bite more than you can chew with an XXL company launch?
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