Micro, Small, Medium, Large and Enterprise businesses; what does it all mean? These are the terms used to describe different size business, however, the definitions vary depending on what part of the world you are in˳ For example, in the USA a Small Business is defined as less than 250 employees˳ Yikes! That is not very small˳ In Europe, Small Business is less than 50˳
Does it matter what category your business falls under? Actually it does˳ Different size businesses need to take different approaches in overcoming their challenges˳ Meaning, the size of your business will dictate the types of problems you will encounter and the most effective ways to solve these problems within a realistic time frame and budget˳
Let’s define what these business categories are, depending where you are around the world˳ In the USA, Micro is less than 10 employees, Small <250, Medium <500, Large <1000˳ In Europe, Micro is less than 10, Small <50, Medium <250, Large <1000˳ In Australia, Micro <2, Small <10, Medium <200, Large <500˳
Many Micro Business Owners (MBO’s) try to overcome the challenges in their businesses by using strategies that are meant for Small businesses˳ Therefore these strategies, although very smart and effective, are not the right fit for the MBO˳ It is like buying a suit or a dress that is the exact style and color you want, but is two sizes too big˳ You can’t wear it the way it is˳ You will need to get it tailored to fit, and even then, it may not look quite right˳ I see this all the time with “wrong size” solutions for the MBO˳
So, the first step in helping MBO’s become more successful is getting them to admit to who they are˳ Go ahead, it’s okay, you can say it: “Hello, my name is (Your Name Here) and I am a Micro Business Owner˳” See, don’t you feel better? Our next step is to get our Co-MBO’s to do the same˳ This will allow us to form the basis of a community˳ By knowing what we are and who we are, we can then work together at creating greater successes for each other˳
As a MBO, your solutions to your challenges are unique from other size businesses˳ You may have the same challenges Small or Medium size business owners have, but the way you need to resolve them is different˳ You must be quicker, more flexible, more creative and more effective˳ You have no room for inefficiency or ineffectiveness˳
Growing, interviewing, hiring, managing, leading, developing a team, processes, systems, communication, as well as, marketing, sales and customer service; are all an integral part of running a successful business˳ However, if you don’t know what you are, if you keep following “small business” advice instead of microbusiness advice, you can be hurting or certainly delaying your success˳
In your networks, make sure your fellow MBO’s know what they are˳ Together, we can really make a difference in our own businesses, each other’s businesses, our local communities, our nation’s economies and global entrepreneurship˳
Source by https://ezinearticles˳com/?Micro,-Small,-Medium,-Large:-Which-Are-You?&id=6946328
