Small Biz vs Startup

Happy 4th of July!! The U.S. is still one of the best places on earth to run a small business or a startup, and I am so grateful to be here.

On that note, I was thinking about small businesses and startups. They are, of course, not the same thing.

Small businesses have a local focus, and the owner is responsible for the day-to-day operations.

Startups have a scalable focus, and the owner is responsible for the exponential growth of the company.

But, there’s common ground that small businesses can learn from startups:

– Experimentation and iteration
– Embracing change
– Focus on niche markets
– Using data to inform decisions
– Building a strong team

And here’s what startups can learn from small businesses:

– Customer service and personal touch
– Resilience and persistence
– In-house expertise
– Cost control and budgeting

But… what about a startup that purchases small businesses as it’s growth strategy?!