3 Things You Should Know About Small Business: May 29
NEW YORK (MainStreet) -- What's happening in small business today?
1. The 100 most brilliant companies revealed. Entrepreneur's annual report is out and it should come as no surprise that the list is top-heavy with digital tech companies ranging from social media to apps and other gadgets for use by mobile phones to health care providers.
On the other end of the spectrum, there is also some "low-tech brilliance," the article notes, with Entrepreneur's newest category to debut in the annual rankings, Geek Chic, targeting retro, hipster appeal.
Many companies that made the list are not necessarily the most lucrative in their industries, but the report also includes what some leading venture capitalists have to say about the potential for these types of companies.
2. Lessons from Google. Small businesses shouldn't be discouraged if they want to create a business that has the same success as Google(GOOG) because it's not just Google's revenue that allows it to feed employees three times a day, it's in the way the company looks at problem solving and decision making at every level that allows it to be successful, according to CNBC.com .
CNBC says business owners should take note of a few of Google's mantras, such as "launch and iterate."
"For a small business, this means trying out a lot of services, products, marketing, sales and other tactics in really small ways, gauging the success and then building on the ideas that work in reality. Resist the urge to perfect -- if your customers understand that you truly want their feedback to shape products and services, they will enthusiastically share their opinions," the article says.
Also remember to "ask forgiveness, not permission," meaning reward employees for taking initiative and "treat their missteps as any other failure -- something to learn from, but not to dwell on," CNBC says.