Merits of a Small Company

By Aldain Reid - Gleaner Contributor

Prior to starting my own business four years ago, I worked as junior manager at a large multinational corporation that had its corporate headquarters in the heart of the nation's capital.
My job function provided me with an opportunity to observe big business and small-business operations from both the employee and the management perspective.
This experience, along with my subsequent foray into entrepreneurship, has taught me that increasingly, in most niche markets, small businesses can realise competitive advantages that larger businesses find difficult to attain.
Adjust rapidly to change
Small companies tend to operate with a fairly simple, flat management structure. As a result, customers experience a more efficient flow of communication with project managers. For the most part, key business decisions can be made without the delays associated with multiple levels of management approval.
In addition to this, small businesses are more aptly positioned to adjust rapidly to change. Decision-making is streamlined and team members expect to exercise a range of skills and experience, rather than to be specialists in only one task area.
If one member of staff is on leave or needs to be temporarily re-assigned to a different project, there is typically another team member who is already trained to assume this responsibility.
If you want to start your own business one day, then working for a small company can be a valuable learning experience.
The truth is, you have to be somewhat of a risk-taker.
You are likely to be putting in longer hours and there is also the risk that if this company failed, you will be out of a job.
However, the chance to work under the guidance of an entrepreneurial trailblazer exploring new, uncharted terrain can be quite exciting. Here are some advantages:

Multi-tasking:
In smaller organisations, you tend to manage multiple tasks. The smaller the company, the more hats you'll wear and be expected to be flexible, adaptable and have a wide skill set. For those individuals that like variety, working for a smaller company can allow them to stretch and develop competencies beyond the technical or hard skills required for the job.
Very often, your creative, marketing and strategic business skills will be utilised to think creatively to solve problems. The levels of experience gained in this environment can prove invaluable. One day you might be designing a new product, the next day, closing a major sales deal. It's up to you to seize the many challenges and opportunities that come your way in such a dynamic environment.

Challenges:
One of the biggest joys of working for a small company is being part of a team that is constantly striving towards improving their product and service. There are often times where the goals are even loftier and are fuelled by a drive to become the leader in the industry.
Direct impact on the bottom line: More often than not, your work in a smaller company will impact the bottom line more directly than working for a larger organisation. This responsibility can be very positive as your contributions will be appreciated as the small team strives to build the company and increase profits.

Rewards:
Working for a small company presents a trade-off between risk and reward. If the company is successful and goes public, for example, you can make lots of money. Bonuses might be based on sales, stock or equity.
Small companies are often benevolent when it comes to offering creative perks to their employees, such as the flexible hours and the option of telecommuting. Of course, there's always the very real risk of the business failing. In the unfortunate event of this happening, you'll still walk away with a wealth of professional experience.

Smaller and independent teams:
In smaller companies, the teams are small and that means that independent work is not only expected but required. If you like working alone, or with minimal supervision, working for a smaller company will suit you perfectly. You'll be highly accountable for your work, but your initiative, drive and ability to make decisions that align with the company's overall missions and goals will be appreciated.

Creative environment:
Small companies tend to be more receptive to new ideas, and as such they attract imaginative types who enjoy brainstorming creative and ingenious ways of doing things.
When you're working to constantly build and improve something, success often depends on the ability to think outside the box.

Scope for growth:
Many of the most successful companies in the world today started out as small businesses. Working in such an environment with huge growth potential can be very rewarding. Smaller companies can offer opportunities that larger ones cannot, such as the chance to expand and advance with the company and the chance to play a pivotal role in the growth of the business.



Aldain Reid is a serial entrepreneur and currently serves as the president of the Young Entrepreneurs Association of Jamaica. He can be contacted via his entrepreneurship blog at www.aldainreid.com

You may view this article online at:http://www.jamaica-gleaner.com/gleaner/20080525/news/news3.html