There can be a wide range of company sizes. Some are one-person operations; others have ten – twenty members of staff. Others have thousands of employees and span multiple countries. While there are some common threads that unite all companies, most businesses are marked by their differences. This applies not only to scope and income but also to their ways of operating. While there are limitations for small companies, and they can’t always replicate the goings-on at big companies, there are some traits that they can incorporate into their operations.
In this blog, we’ll take a look at some of the key things that small businesses can learn from their larger counterparts.
The Emphasis on Staff
It’s no surprise that the companies that routinely top the ‘most attractive places to work’ lists are some of the biggest companies in the world. They know that if they’re going to achieve their goals, then they need the right people in place to help make it happen. This begins with the recruiting process but also involves making sure that they stay within the company. Paying well, investing in training, and creating a positive work environment will all help ensure that your team has everything they need to do the best for your company.
A Company Identity
Take a look at any large company in the world. It could be Airbnb, Google, Apple, anything. When you look at their website, stores, products, offices, design, tone, everything, you’ll see that they all seemed to go together well. This is their branding, and it is a subtle but powerful tool that can help to bring a company to life. As well as branding, the leading companies create goals and have a company charter. It’s these characteristics that ensure the company is always on the right path towards success.
How They Work
The leading companies are at the top of the game when it comes to operations. Indeed, that’s why they’re the leading companies in the first place. They have ways of doing things that maximise output and success. Could you do the same? This could involve getting rid of the traditional working hours/environment and finding a solution that suits your employees and company. Or you might use an OKR framework to define and work towards your goals. Even the setup of the company can be influenced by the big players — does a traditional hierarchical approach work for you, or would you be better with a flat organisational structure?
We all know the successes of Facebook, Google, Apple, and so on. But they’ve also all got a lot of failures under their belts. This is because they’re known to take chances. They don’t always stick, but you learn from the ones that don’t, and go again. Your company might not be able to take the same kind of chances (since capital will be an issue), but you can adopt a chance-taking mindset that pushes you forward. You never know where it might take your business in the future.