Small Businesses Thrive in the Digital Economy
When I first entered the job market, I interviewed at a few different companies, one of which was a small insurance firm outside Philadelphia. My interviewer was a C-level executive, and he gave me a piece of advice I’ll never forget. He said, “You know, at a large corporation, you’re going to learn a lot about a little. Here with us, at a small business, you will learn a lot about a lot.”
He meant, of course, that employees of small to mid-sized companies wear many hats. And usually, their organizational leaders are accessible resources and serve as CEO, CMO, CIO, CFO, and more all at one time.
Size doesn’t matter
Today, small businesses can be just as successful as, if not more successful than, their larger competitors. Why? Because with the right technology, small businesses can easily cause positive disruption in the market.
Within the boom of the digital economy, small businesses now have the power to reshape their markets and industries. A couple popular examples of this are Uber disrupting the transportation industry and Airbnb disrupting the hospitality industry.
Both have significantly shaken their larger competitors because they are successfully leveraging the Internet of Things to provide customers with a simple and easy way to purchase a service. And according to a recent blog by Vivek Bapat, 70% of consumers will recommend brands that offer a simpler experience. And 38% of consumers will pay a premium for it (The Digitalist).
Learn more… Listen to #SAPTalks
According to a recent Economist Intelligence Unit study, 59% of executives agree that in order for their businesses to survive with today’s customers, their businesses must embrace and adapt to hyperconnectivity.
To learn more about numerous small and mid-sized businesses that are ditching legacy processes and inside-the box thinking to become disruptive forces in their markets, check out the new podcast series, #SAPTalks…Small to Midsized Business hosted by David Trites.
In about 20 minutes an episode, guest speakers from small and midsized companies share their unscripted and in-depth digital transformation experiences. They explain their industries, challenges, current technology projects, best practices, and lessons learned along the journey.
The first episode will air on the Voice America Channel on Tuesday October 13th and will feature Paula Muesse, CIO and CFO of Zhena’s Gypsy Tea. On the show, Paula will explain how Zhena’s adopted new technology to best sell organic, fair-trade, and competitive teas.
Follow the Blog Series
Read how the following companies have also broken the myth that SAP is only for big business:
For more on how you can successfully sell into the small and mid-sized market, please click here.