4 Useful Tips to Boost SMB Potential in their Market

"Nothing is particularly hard if you divide it into small jobs.” -Henry Ford

SMBs are constantly making massive strides in almost every industry – most notably with the assistance of IT solutions that pump out the most effective features in collaboration and productivity. Technological advancements have greatly benefited businesses of all sizes with regard to the deployment of their workplace initiatives, how successful they eventually become and ultimately their rank in the industry they work in.

SMB expert, Steve Strauss, lends some insight on SMB culture and how it’s drastically changing.

Industry Expert: Steve Strauss

Site: TheSelfEmployed.com


"The way we work today is almost unrecognizable from how we worked a generation ago, even a decade ago, and no, I am not just talking about being able to work on the go or at Starbucks. What I am talking about is almost a complete re-thinking of how we work, and the resulting economy that stems from that."

Strauss further asserts that it is an amazing time to be in small business because of the abundance of online collaboration tools – they enable businesses to work faster and complete more work. He couldn't be any more accurate. There is so much potential for SMBs to succeed, especially with the amount of resources they have at their disposal.

So how can you ensure your SMB rises and reaches new lengths? Here are 4 useful tips to boost SMB potential in the long term:

1. Know your business needs: Small and medium sized businesses can sometimes aim too high too fast and lose focus. It's good to have a clear picture in mind; one that is attainable and will perform well long term. This will include knowing their place in the market; how much competition is there? What skills will set them apart? Etc.
2. Duration of business roadmap: Let's face it, when SMBs are formed, they're usually cultivated around a specific feature or skillset that either hasn't been seen in the market or hasn't yet been perfected. So, how can SMBs suss out the situation? Make connections. Analyze the market to the full extent. Once it's clear that you have something extraordinary, launch the product ASAP.
3. Utilizing technology for business solutions: As stated by Strauss, technological advancements in the workplace are making it better than ever for SMBs to perform at high levels, and as such, it's one of the best times to own an SMB. The cloud is all the rage as it has amplified the capabilities for business small and large to conduct their workflow in a more efficient and streamlined manner. Typically SMBs either do not have an IT department or they could be somewhere between one person to a very small team of IT professionals – this is where applications like Microsoft Azure can greatly assist efforts to increase collaboration and productivity by providing businesses anywhere access to important business content. Microsoft cultivates partnerships with various systems integrators who in turn benefit from using third party vendors like LiveTiles to enhance user experience. And, in the SMB niche, user-friendliness is a key feature because of the multitude of other tasks placed in their workflow that may require a bit more TLC.
4. Partnerships that inspire and innovate: Building meaningful and lasting relationships with other like-minded businesses and professionals will only help SMBs reach new lengths, especially in the long run. So what kind of partnerships are we talking about? Here's a scenario: you're an SMB that is in desperate need of an IT solution that's user-friendly and enhances workplace deployment. You turn to Microsoft (because why not? They're only the largest innovator in the business sector). Your company begins to use Microsoft Azure for their optimal cloud hosting services. But you find you're not utilizing it to its full potential. You hire a third party vendor that can work on top of Azure to greatly enhance workflow experience. Two birds, one stone; you've got a brand spanking new solution that's super effective and an innovative partner that will be part of your growth journey.

SMB potential not only lies in the company's ability to be a total game changer, but also in their ability to hone in on the essential fundamentals of what will be the foundation of everything they build in their business. Having a clear focus on what it is you're doing, the amount of time it takes you to do so, the IT involved in facilitating those endeavors and ultimately the connections you make in the process will be key factors in ensuring that your SMB will perform to the highest of standards in their chosen markets.

I'd like to thank Steve Strauss for his input in this article.

Bio: Steve Strauss is often called the “most popular small business columnist in America.” The senior USA TODAY small business columnist, Steve is a regular contributor to The Huffington Post, ABC News, Yahoo, and many other outlets. He is a best-selling author of 17 books, including his newest installment, The Small Business Bible.

You can reach him via MrAllBiz, or by writing to sstrauss@MrAllBiz.com.