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The New Small and The Entrepreneur Equation

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Two small business books to talk about this week. The New Small by Phil Simon and The Entrepreneur Equation by Carol Roth. Both were sent to me for review, and both have good value for small business.

The New Small
Phil Simon

Phil gets that small business now has an advantage over big business. He pinpoints some technology that has changed to get us here. I sent Phil some questions about how this relates specifically to small towns.

1. You clearly say that small companies now have an advantage over big companies because of 5 changes in technology. Do you think that extends to small towns, too? Will small town businesses still be able to carry off those advantages?

“It sure does, although some towns in the US and other countries still have challenges with respect to broadband penetration and high speed internet access. Many small towns benefit from increased speeds and the decrease in the price of storage, but many doesn’t mean all. So, to answer your second question, it depends. In theory, no.”

2. Are there any of the 5 enablers that you think are especially potent for small town businesses?
“They all are. Not one is exclusive to big cities.”

3. What do you mean by long term greedy, and why do you think it’s a good thing? (I think there is some relation to a small town environment there.)
“The New Small understands that bad business exists. You don’t want to take on a client knowing that red flags will make it success untenable. Yes, it’s a good thing. Long-term relationships based upon trust and past performance inhibit clients from searching for the lowest cost solution. Remember, we live in a flat world now.”

4. Do you have any small town examples of The New Small?
“Well, only one of the companies profiled in the book (DODOcase) is located in a big city. Ten of the eleven companies would qualify–and there are others not profiled in the book!”

5. Ultimately, how do we help more small business owners step up and join the New Small in adopting these technologies?
“Read the book! Beyond that, don’t be afraid of technology. Jump in. Experiment. Don’t be afraid to fail. You’ll make progress and see results. It’s not rocket science.”

6. What about keeping up? Where do normal everyday small town business owners find out about the most enabling new tools and technologies, and how do they keep from falling behind?
“Ah, that is the challenge. Paying attention to key people, blogs, resources, webinars, and etc. is essential. I struggle myself sometimes. It’s a very fast moving world.”

7. Anything else you’d like to share or emphasize?
“There’s never been a better time to be small. Emerging technologies do not obviate the need for a solid business model, service, or product. They can help, but major business fundamentals still exist.”

Overall, I recommend this one if you want to get a better understanding of the types of technology now available to small business and why they matter. Find more at The New Small.

The Entrepreneur Equation
Carol Roth

One of Carol’s strengths is dissuading those ill-suited for entrepreneurship. She cultivates a reputation as a blunt truth-speaker.

I sent Carol only one question. How does this apply for small town business?

“The Entrepreneur Equation is very applicable to small town business owners because it creates a framework that’s based on the entrepreneur’s goals, circumstances and objectives. While many business book take a point of view and try to make it one-size-fits-all, that’s not reality. The small town business owner is going to have different objectives, as well as risk/reward trade-offs that are unique to the circumstances of the individual as well as being located in a small town. That’s why I wanted to create a dynamic framework that anyone could layer on top of their own situation for individual decision making at any point in time.”
If you’re questioning whether going into business is for you, then this book can be a good guide to deciding. Find more information at The Entrepreneur Equation. 

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About Becky McCray

Becky started Small Biz Survival in 2006 to share rural business and community building stories and ideas with other small town business people. She and her husband have a small cattle ranch and are lifelong entrepreneurs. Becky is an international speaker on small business and rural topics.

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