No one has to tell the average business person that things are now different. Radical economic factors and technological changes have altered the very course of our society. As a result, business is now forced to play be a different set of rules.
Through the Internet, every customer can now talk directly to each other. It’s similar to living in a small town where every customer knew every other and your company lived or died by what they said! People listen now more to what customers say about your company than your mass advertising. The human voice in business is valued over big corporate mission statements. People online are banding together in small communities with common interests. Given a choice, consumers would rather buy their products locally than abroad.
Every consumer now behaves like they live in a small town. As a result, companies now need to play be a new set of “small town rules.” These are the same rules that have made rural entrepreneurs successful for centuries. They apply to small businesses and big brands, no matter how big or how urban.
Many familiar companies started in small towns likeVikingRange, L.L. Bean clothing, and Sonic Drive Ins. Wal-Mart may be the single most powerful brand to come from a small town and remake the world, affecting both small businesses and huge national brands.
Small town business people have tried everything to survive and thrive within the limits of their towns. The best ones have a reputation for knowing every customer personally and for catering to their customers. But, there are deeper strategies and tactics behind the scenes: managing multiple lines of income, thinking long term, being frugal, creating community and building local connections.
If all businesses would act more like small town entrepreneurs, they could be more profitably in the long term.
So what do you think? Has business changed? Do we need to need to create a local feeling in a global economy? We’d love to hear your thoughts in the comments below.