Are You Starting Your Own Business With This Limiting Mistake?

A marketing professional whose theories I greatly respect value once said that the reason that small business stay small is because the entrepreneurs behind them keep a small mentality.

It was one of those things that seemed obvious but had never really crossed my mind.

It’s true that if you tell family, friends and acquaintances that you will be starting your own business shortly they will react differently if you mention the word small. They may not take you seriously and may offer some encouraging words in the lines of “Oh, good for you! You can make some extra cash!”

If family, friends and acquaintances react like that, how do you think investors, prospective clients and other stakeholders are going to react when you announce that you will be starting your own business in the same manner?

Small is such a limiting word. In a way it’s an opposite word of empire and millions. The general perception is that a small business earns small revenues while big businesses earn big revenues.

Photo: Daveybot

There are companies that are small like Craigslist (20 employees) that make millions yearly. Some management consulting firms may be perceived as small businesses until you hear of the millions in billings they earn yearly!

Don’t tell people that you’re opening a small business. Tell them that you are starting your own business and describe the ultimate mission and objective in the same breath. This way, people will understand that you are starting small but with the big vision are headed to greatness!