JTPR

Big lessons from small business

In Business Class, uhm, Uncategorized on May 14, 2010 at 7:57 am

More than once or twice in recent days, I’ve found myself at lunch tables and on bar stools talking with fellow small business folks about the ups and downs of the economy. And again and again, I find myself recommending the same book: Bo Burlingham’s 2005 work, “Small Giants.”

In that book, Burlingham presents a group of companies that, as he put it, “choose to be great instead of big.” From a Michigan recording studio to a Silicon Valley HR firm, and from a New York restaurant group to a San Francisco brewery, the companies Burlingham examined had made conscious decisions not to grow.

Well, actually, they chose not to grow by the traditional definitions of growth — by expanding beyond basic operations, for example, or by going public, merging or being acquired. All of them, however, would no doubt say they grew in other ways. And, by their measures, all seem to count themselves as successful. And, in pursuing their own definitions of success, they offer lessons for any business — of any size.

Consider this overview of the factors Burlingham says contribute to small firms’ mojo and decide for yourself.

 Choice. Recognizing that you have options beyond the usual paths to success, and, as a result, going a different way.

 Resistance. Choosing to resist the “obvious” paths to growth.

 Roots. Having an intimate relationship with geographic location — your city, town, county or region.

 Community. Maintaining intimate relationships with customers and suppliers.

 Family. Building intimate workplaces, where employees are like family.

 Variety. Organizing your business in an imaginative way, without feeling bound by typical structures.

 Passion. Having a leader with passion for the organization and what it does.

In various formula and measures, these factors combine to create a bigger, perhaps-less-tangible piece that Burlingham describes as a firm’s “mojo.” In the Jim Collins vernacular, this is most easily compared to a firm’s “hedgehog” … others might describe it as an organization’s  “DNA.” Regardless of what you call it, though, it’s that special thing, that unique quality, that defining aspect of an organzition that makes it stand out.

The thing to understand is that your firm’s “mojo” might not be the product you make so well, or the service you provide better than anyone else — it might be the process by which you make that product, or the way you provide that service. The trick is to identify that mojo and build on it … often discovering you can expand that mojo in ways you never imagined, to grow in ways you never thought possible.

And why is this notion so important these days? Because in times of marketplace upheaval, pursuing growth for growth’s sake seldom works. Instead, focus on your mojo in order to develop your organization’s true strength. Then you’ll not only survive tough times, but, when times are better, you’ll grow … in the ways that you choose to define growth.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: