I was coaching last week and had a run of clients who had some interesting business ideas…except for the fact that they were running right into the lion’s den.
The den of BIG companies.
I realized that most of the companies we deal with every day, read about in the media, or learn about in school are companies with hundreds or thousands of employees. They have an ongoing cash flow and a proven business model.
Because this is the way we’ve always seen business done—so few entrepreneurs truly get the public spotlight–it’s easy to imagine that the only way to run a business is to imitate the big guys. Of course, this isn’t true.
Just as playing a table tennis match is very different from playing Wimbledon tennis, bootstrapping your business is a world apart from running IBM. You need to understand the differences, and you need to understand how you can use your size to your advantage.
Big guys succeed because they capitalize on:
Do you have a chance to succeed playing by any of these rules?
Not if you try to compete head to head in these five areas. Not if you try to be just like a big company, but smaller. If you try to steal the giant’s lunch, you’ll be the giant’s lunch.
You have to go where the other guys can’t. Take advantage of what you have that they don’t.
Many bootstrappers miss this lesson.
Why? Because they fall in love with an idea, not a business.
Yet there are exciting things you can do. If you insist that those fabulous five will make your business, follow these rules:
You have plenty of things that the big guys don’t, things that can give you tremendous advantages in launching a new business or growing this one. Put those assets forward to your best advantage.
Go forth and do great things,
Martha Hanlon and Chris Williams