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Small-business Savvy: A Small Business Must Think Big

Distinguish your business from all the others.

By Glenn Muske, Rural and Agribusiness Enterprise Development Specialist

NDSU Extension Service

Small businesses must think big.

I suspect that I am telling you, the small-business owner, to consider ways to grow your business: ways to add more staff, sell more, increase the size of your store and, the ultimate, increase the number of locations you have.

All of those are certainly worthy of your planning and effort.

But my encouragement to think big actually is something else. My definition of “think big” includes:

  • Setting big goals for family and community support
  • Developing plans to be a long-running business, whether that’s through being multigenerational or other means of transition
  • Finding and internally developing employees who have big talent
  • Having a big heart
  • Undertaking new projects
  • Generating big memories
  • Providing unbounded happiness

As you can see from this list, the big goals focus on the social and community aspects of your business.

Some will challenge this idea, saying that a business must be a business first. And you can’t deny the fact that being around to accomplish any of your big goals does require a business that is profitable.

Yet thinking big along the lines suggested becomes a key for a profitable business. These suggestions - you don’t need to undertake all of them - form part of your brand. Your company becomes noted for them and they become part of your story. They distinguish your business from the others.

So as a small-business owner, think big!

For more help, visit our website, https://www.ag.ndsu.edu/smallbusiness, and sign up for the monthly newsletter.

More information is available at your local Extension office, as well as at http://powerofbusiness.net and http://www.eXtension.org/entrepreneurship.

The Small Business Administration and its related organizations, such as the Small Business Development Centers and Service Corps of Retired Executives, along with many other state agencies, also can be valuable resources.

NDSU Agriculture Communication - July 21, 2016

Source:Glenn Muske, 701-328-9718, glenn.muske@ndsu.edu
Editor:Ellen Crawford, 701-231-5391, ellen.crawford@ndsu.edu
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