• Very small businesses can do business with big business.
• Treating employees with dignity builds company loyalty.
• Having a partner means you can take a vacation.

Key idea #1: The Lightbulb. Very small businesses can do business with big business.
We also talked about this issue in program with Monica Morgan ; she is the events photographer for Anheuser-Busch and she owns a two-person company. With only 12 employees and about $3 million in sales, Big Beaver does easily does business with K Mart and Kodak, multi-billion dollar companies.

Small business owners can more readily find niches within big businesses by doing careful research on the Internet. To have a customer, you have to know them.

Define your niche, do some research, and prepare to make even an introductory phone call by reading everything you can about a company. Go to the world wide web and explore the site of any company that you could develop a relationship. In the case of Big Beaver, K Mart headquarters is physically close by and the creative agency who suggested Big Beaver had K Mart's confidence. That tells us knowing the right people can make a difference.

Topic for discussion: What did KMart executive, Joel Streeter, have to say about doing business with small companies?

Possible answer: A big company will work with a small business that has the right product, has competitive prices, and is able to produce it efficiently, and. Joel points out, however, that the reason he enjoys working with Big Beaver is they are extremely flexible and responsive. When Joel calls Big Beaver, he talks to the decision-maker and the results are on his desk quickly. In a big company there are many layers of leadership and management which means getting a decision takes a great deal of time. Joel also said, a small company must master a niche, listen to the customer and respond.

Topic for discussion: What does it mean to master a niche?

Possible answers: When people think of your company, they think of your niche and even picture your work. Big companies often have so many products and services that the average consumer could not name what a big company does. However, they usually have a public personna. If someone asks, "What does IBM do?" molst of us would say, "They manufacture and sell computers." However, its fastest growing division sells data management and networking services.

A small company needs to be extraordinary at one thing before it goes off to do other things. Big Beaver builds point of purchase displays -- it doesn't build houses on the side. When you are the master of a niche, you attract attention because your work reveals a depth of quality others can't match.

The good news for small companies today is that the consumer is looking for the unusual which is typically invented and manufactured by small companies. IBM knows that as much as 50% of the personal computer business -- which it invented -- is captured by smaller PC makers who build to the specifications of the customer.

The jeans business which at one time was owned by its inventor, Levi Strauss, has been invaded the last 15 years by hundreds of designers who bring to the customer unique styles.

A small business can thrive by mastering a niche.

Topic for discussion: How did Big Beaver make such a good first impression on K Mart?

Possible answers: In 14 days, Big Beaver designed, engineered, produced and shipped 70 display units which incorporated all of Joel Streeter's ideas. Off camera he told us that they hired extra employees and had the trucks lined up at the door so that the shipping took place immediately upon completion of a truck load. Every detail was planned to execute the job with efficiency at the same time they maintained the highest-quality standards.

Key idea #2 Treating employees with dignity builds company loyalty .
Bill Richardson has been an employee of Big Beaver for 33 years and now he is part owner.

Topic for discussion: Why did Bill stick around for so long?

Possible answers: First he likes the fact that every project is unique and this way he is never bored. Also, he has always felt that Big Beaver was like a family for him and that ownership and his co-workers have always worked side-by-side to deliver quality for the customers.

Topic for discussion: Why are loyal employees so important to any business? Possible answer: People are the single most important component to a business. Long-term employees develop "institutional memory" which is impossible to replace with new people. Knowing how things were done in the past is great as long as employees don't get stale. Bill has depth of knowledge and he hasn't lost his creative edge.

Key idea #3 Having a partner means you can take a vacation.
Hal has always worked for himself and has been very successful having a partner. He likes having someone with whom to share the burden of ownership.

Topic for discussion: What are the pros and cons of having a partner?

Possible answers: Hal says for him the biggest pro to having a partner is he can leave the business and know it is in good hands. Others have said that the only reason to take a partner is for the dollars they can bring to the table or for a very specific skill you need. Just as it is very hard for couples to stay married, it is very hard for partners to maintain positive working relations over the long haul. People have differing opinions, can become greedy, can change their goals or can just lose enthusiasm for the business.

Hal has an easy-going personality and he personally enjoys sharing the decision-making process with others. If you are extremely independent and head-strong, you probably will not find pleasure in working through the tedious process of decision-making with a partner. The way to thrive with a partner is recognize and respect the other person's unique talents. At the same time, know that any partner you choose must have the same basic core values.

Questions? Drop us a note.