Proud to be a Micro Business

Being a micro business can feel tough and lonely; long days, demanding clients, a never-ending to do list and huge responsibilities. Sometimes you wonder why you do it, there must be an easy way to make a living!

Whether you are a sole trader, operate a small business in your spare time or employ 5 people you are classed as a micro business. People start micro businesses all the time because there are some great advantages to being a small enterprise that our bigger corporate brothers just don't have. They aren’t always obvious, but they are really effective tools we can use to give ourselves a genuine competitive advantage.

Just to remind us of why we do it, here are six great advantages to owning a micro business.

1. We are Agile

Micro businesses are more agile because they are smaller. They adapt to change quicker because they are not bogged down with layers of decision making and bureaucracy, which means they are able to respond to changes in their market much faster than larger competition. Think speedboat versus oil tanker – while they are still wondering if they can turn around in less than 50 miles, you’ve managed a nifty turn in 50 feet.

There is no head office to consult, or management team to convince when you have a new idea for a product or service. Micro business owners make their own decisions, and turn plans into actions in days rather than months. That sort of agility results in innovation, responsiveness and competitive edge.

2. We are the Experts in our chosen field.

Most of us set up our micro businesses because we are experts in what we do. We may have a unique skill set or bespoke service that is our business. You probably have a reputation for being the go to person and you understand your market and your ideal client inside out. When the field is smaller, expertise shines through.

Many larger organisations have no idea what expertise they actually have, and often miss out on opportunities because they simply don’t know what their employees can do.

I spent years sitting in my corporate office waiting to be discovered until I realised that everyone else was sitting behind their desks waiting for the same thing. At that moment I decided to leave and set up my first micro business.

3. We have the freedom to innovate

We all like to think we have discerning taste and that we want something other than run-of-the-mill service or mass produced products. We want quality, something different, something tailored to our needs. Micro businesses are perfect for that niche because they are closer to their clients and better informed about what they want.

That gives us the ability to be extraordinary, to go the extra mile and deliver a memorable experience to our customers. By definition, bigger companies produce 'uniform' and 'safe'. That gives micro business a competitive edge.

We have the freedom to innovate within our market and whatever our niche is, we can ensure that our product or service is a perfect fit for your customers.

4. We can offer excellent Customer Service

There’s nothing like the buzz of producing something that a customer is really pleased with and they tell us that. That sort of feedback is rare in big companies, where the layers of staff insulate the management from their customers.

Of course, that also is true of the complaints we may receive but because of the closeness, we are also well placed to understand what’s gone wrong, know how to rectify it quickly, and learn from the experience.

There is no feeling quite like making something from start to end, and seeing it succeed. The enormous pride we can take in a job well done is hard to beat – it’s one of the main reasons we all get up in the morning!

5. We can run a tight ship

A micro business is likely to specialise in a limited range of services/products which means fewer but more effective processes. We are generally quicker to spot new opportunities and act on them.

If something significant in our market changes, we are more likely to spot it quickly and respond. Fewer layers, fewer employees, more efficient operations, and a detailed understanding of how our micro business works gives us a time advantage.

6. We have the best boss in the world!

Big businesses littered with dozens of people who need to be consulted to get a complete picture of what’s going on before any decision can be made. But since we are the boss, we decide which opportunities are worthwhile. We know our own business and the risks inside out, and that makes us perfectly placed to make the right decisions.

We are also able to offer our staff great opportunities for development and progression. Because we are small, we are more in touch with the people who work for us. we know their ambitions, and can help them achieve them. In a big business, they might just be a name or number.

Advantages of Micro Business Owners

Being a Micro business, we have some distinct advantages over larger companies.

We have the opportunity to grow our business and make sure that it flourishes.

We have the freedom to choose, to design, to create, to make a difference.

We have the power to create our lifestyle and do business on our terms.

We have the chance to celebrate our success as micro business owners!

We are the engine house of our economy and we should not hide in the shadows any more.

If you need more inspiration, remember: the key to competing well against the bigger players in your market is to do the things that they can’t do.

I would love to hear your experiences of being a micro business owner or answer any questions about growing your micro business.