Small businesses have to approach marketing differently, often with limited resources and a limited budget, so it's important to be able to distinguish between different business sizes. In this video, learn how to identify the characteristics of a small business and a micro business.
- Oftentimes, we toss the term "small business" around to mean everything from the coffee shop next door to a company that has upwards of 200 employees. But it's even more curious than that. You see, each country defines small business differently. In the European Union, it's less than 50 employees. In the United States, it's generally less than 500 employees. Interestingly enough, the United States Small Business Administration even has an entire chart dedicated to determining based on your classification, whether or not you qualify as a small business. And these definitions are created to determine if a company qualifies for certain government benefits, or is obligated to follow certain regulations. So I don't intend to debate the literal definition. It doesn't really help when it comes to identifying techniques and tactics that work best. Instead, I want to clarify how I think of a small business when it comes to marketing. To me, small business just means small budgets and small teams. Ignore the classification. If you're trying to operate lean, you're either a small business or acting like one. And marketing small even works if you're embedded in a major organization but siloed to your small unit. If you're literally a small business or you're just wanting new ways to think small, you're in the right place.