Even though the economy has been dismal and unemployment has been on the rise, a fascinating phenomenon suggests that small businesses and boutique firms stand to gain customers in these trying times. Let’s face it, whether times are good or bad small businesses have never been able to afford the luxury of being wasteful, inefficient, or careless with money. Large corporations, on the other hand, which are bureaucratic by their very nature, have a tendency to become highly inefficient and wasteful when times are good. When faced with an economic downturn, the inevitable occurs in a large corporation—mass downsizing resulting in a loss of valuable talent and customer service. Consequently, the large name brand company that customers were paying for tends to lose its luster in the face of lost relationships and customer support.
Peter Bregman, CEO of Bregman Partners, Inc., a global management consulting firm, also believes that small companies will win in this economy. He states that “Small is the new big. Sustainable is the new growth. Trust is the new competitive advantage.” He says that “small companies with low overhead, reliable owners, a small number of committed employees, personal client relationships, and sustainable business models that drive a reasonable profit are the great opportunity of our time.” To read more about Bregman’s point of view on this topic visit his article Why Small Companies Will Win in This Economy.
The tenants of the Brentwood Business Center, the Sand Creek Business Center, and the Sand Creek Plaza are all too familiar with this mantra. The majority of the tenants renting space in these Brentwood business centers are small local vendors with a particular focus on sustaining clients through relationships and keen customer service. In fact, KMB Management, the managing firm over these properties, has developed a philosophy that embodies the spirit of Bregman’s slogan: “Small is the new big. Sustainable is the new growth. Trust is the new competitive advantage.” Each new customer and/or potential customer at KMB Management is treated with respect, professionalism, kindness, and commitment.
In closing, if you are a small business in this trying time don’t lose heart. This is your golden opportunity to take advantage of the niche opportunities that are out there. Just remember that small is the new big and the power of the personal relationship can never be underestimated. Creativity may also be your number one asset in attracting new business and retaining loyal customers. The business expert Peter Drucker once said that, “Business has only two basic functions—marketing and innovation.” Therefore, turn your creativity into innovative marketing endeavors!
