Aseem Badshah is the President and CEO of Uptown Treehouse. You can see more videos here on Docstoc or visit his blog.
The main competitive advantage of a small business is that you are small and agile.
- Make sure you take advantage of that. Experimentation has a lot to do this.
- Seth Goden calls this, “Poking the box.” You can go try your ideas rather than arguing about it.
- Measure your results and see what works.
The main component advantage that any small business has, no matter the industry, is that they’re small and they’re agile. You want to make sure that you’re taking advantage of that fact when you’re running your business. And experimentation has a lot to do with this, like you have the ability to do things much faster than a larger, incumbent organization has the ability to do and you should be really taking advantage of that.
Seth Godin calls this concept, poking the box, always trying new things. Instead of sitting around the room debating about what color works in a button or, you know, what product is going to be, you know, what feature of that product is going to market the message best, just go try it. And once you’ve tried it, make sure that you’re always tracking the data and measuring to see what works. And experiment has a hypothesis, you gather data and then you reflect on that and look at the results. That’s the way that you should be running your business in all facets. And that’s how you’re going to become agile and leverage your small sides in order to really grow and become a player in your industry.