In 1975, actor Roy Scheider delivered one of the most memorable lines in movie history when he said: “You’re gonna need a bigger boat.” The phrase—first uttered by Scheider’s character, Chief Martin Brody, in Jaws—has grown a life of its own in the 40+ years since audiences first heard it. Today, its meaning spans well beyond Brody’s attempt at thwarting the man-eating shark’s thirst for carnage. It’s now a euphemism for a situation where someone is ill-equipped or unprepared to handle what’s in front of them. If you own a small business and you’re feeling overworked and understaffed, let us first congratulate you. Finding that level of success isn’t easy, and many fail before encountering the problem you have. Also, it may cause damage to the long-term health of your business if you don’t consider when it’s time to hire a bigger team. Here are three ways to know when it’s time for that proverbial bigger boat.
Small business owners should never feel like they need to acquire business software simply for the sake of implementing the latest technology. Yes, the business software market is expanding rapidly and growing at a rate of eight percent a year. Its market share is now hundreds of billions of dollars, but that doesn't mean entrepreneurs should rush to purchase the latest platforms. Small businesses should take a careful and strategic approach to select software. They can do this by first examining their own objectives and identifying areas they want to improve on.
As employee behaviors, customer expectations, and available technology changes, the business world evolves. The businesses that spot these trends should take advantage of them. They stand to benefit much more than their larger counterparts. More and more, businesses are recognizing the importance of "getting eyeballs on their website" and developing strategies to make that happen.
There’s often more variation—and less conformity in small business. As a result, organizations that find ways to adapt will most definitely shift realities. Their business objectives will gain ground quickly as a result. That's just one example. Here are a few of the biggest trends happening right now in the world of small business management. We all know the best way to capitalize on an emerging trend is to understand its surrounding context.