Recent studies report that the number of small businesses (defined as those with fewer than 100 employees) numbers around 7 million. While much is known about basic audience demographics, like industry affiliation, and numerous research reports discuss small business behavior - such as their tendency to rely on informal sources for advice – little was understood about the ethos of the small business. Qualitative research with small business owners and staff, specifically Day in the Life interviews conducted across industry and geography, helped us to better understand 1) how they perceive themselves and 2) what they value in the companies and people they choose do business with.
Part 1: Self-Perception and Beliefs
The majority of those interviewed had worked for larger companies or corporations in prior lives, but expressed dissatisfaction with the lack of control associated with a corporate job. Their decision to open or work for a small business was a conscious one, brought about by a small degree of luck and a large dose of courage as they sought to create an environment that better suited their needs.
Today, they carry themselves with a remarkable degree of self-confidence. Even more incredible to discover was the underlying belief that they have some superior understanding of the market or the customer that allowed them to identify and offer a truly relevant ‘solution’.
Their sense of possessing some unique knowledge leads small businesses to self-identify as a risk-taker on a grand stage, more so than a small fish in a big pond. Listening harder, responding faster, or delivering greater customization are all ways in which they demonstrate their superiority over big business and seek to deliver better value to their customers.
Part II to come....
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