How Does a Small Business Grow? You Can Try to Think Like A Rock Band

We were called the Mini Playboys. Three ten year old musicians who temporarily  put down their rock roots to play old standards, big band, and Italian songs.  The band consisted of a drum, guitar, and accordion.  We almost never played like this for our friends for the obvious reasons, but played at old folks parties and restaurants. Heck, we each earned $5.00 an hour in 1967 when minimum wage was $1.40.  Great money!  Our band  focused on a strategy to hit a particular niche market, and it worked for 2 years until we went our separate ways.

I came across an article by Apryl Peredo, So, You Want a Label Contract? The article listed 5 reasons why bands are not signed by record labels. The article laid out some good, though basic advice to young band members.  However,  as I read the article I substituted the word “small business” for “band.”  It also seemed to translate into good advice to those small businesses that are looking to grow their business.  Here is what I mean:

1. We don’t sign  “newly formed” bands. Customers who are looking for value and trust like to see an established business.  This also pertains to expertise.  I remember working for an accounting firm who declared themselves as experts in any area where they performed a single engagement.  That hardly builds up the trust you want with your customers.
2. We don’t sign undeveloped bands.As a business owner, you must walk before you run.  Starting small is not bad, it allows you to make mistakes without risking too much.  Design your strategy to build slowly and in control or you may find yourself in the “white water” (Les McKeown’s definition in Predictable Success).
3. We don’t sign unknown bands. Customers and clients like to see a reputation, a good reputation.  In looking at E-Bay, I noticed that some of the most successful businesses are those who have hundreds of good ratings.  This weighs a lot with a new customer, so build your fan base.
4. We don’t sign people/band we meet at parties. Very few people would hire an attorney who advertised door to door.  There is just a culture that discourages that kind of selling for that profession.  It may work for a realtor, but not a surgeon.  Learn your industry’s norms and culture.
5. We don’t sign based on “oral” favors. Business character counts.  Always be beyond reproach in your client solicitation practices.

The article summed up a band’s quest to secure a label contract with “persistence, practice, professionalism, creative development, and hard work”

That is good advice for any small business looking to grow.  Very few businesses make it “big” over night, and the ones that seem like they do, worked at it for years.