CASH IS KING
I was watching a Gary Vee video the other day and he said some stuff that really resonated.
SMBs don't build brand.
SMBs are in the sales business.
Everything is short term.
It's the nature of the beast.
And while this is a generalization of sorts.
There’s a lot of truth to it.
So I thought I’d walk through each phrase.
By the way, the whole video is a worthwhile watch.
SMBs don't build brand
It is true that most SMBs don’t build brand.
And the flipside is true as well.
The ones that do build a brand are successful.
Building a brand takes time.
It takes vision.
And time and vision are 2 things SMBs don’t do well.
SMBs are in the sales business
SMBs are always chasing the next sale.
Or they’re frustrated that they can find the next sale.
Finding new dollars trumps almost everything in an SMB.
And just like having a brand.
The SMB’s that have a strong sales engine win.
Everything is short term
The fact that most SMBs don’t have a budget is a clear indicator that they think short term.
In most SMBs owners are taking a draw out of the business to fund their lifestyle.
That draw is what feeds the short term approach.
The concept of saving for the future rarely is discussed.
Not only is there a lack of time and vision.
There’s no planning either.
It's the nature of the beast
I’m not trying to be negative.
I’m just pointing a finger at the reality of working in and serving the SMB market.
It can be a tough ride.
But at the same time.
There’s fun in the chaos.
There’s upside at every turn.
Many SMBs want to improve
They want to grow.
And therein lies the opportunity.
But understanding how SMBs act and think.
We are able to create products and services that can help them to succeed.
Even their tech.
PS. I realized I used the acronym SMB throughout this article without once saying that SMB stands for Small and Medium Business. But I figured you knew that already. 😉