Goldman Sachs invests $500 Million

By Sam Maropis • November 18th, 2009

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I just read that more big businesses are helping small businesses today than in a long time. This week it was announced that Goldman Sachs (GS, Fortune 500) is investing over $500 million called “10,000” Small Businesses.” Well that is exciting, but a little self-interest is here. Big Business is helping us small businesses only when it is good for them. But this time maybe the bank and Warren Buffett are doing something that is really good for Small Business.

I am glad for their help; so to the businesses that really focus on Small Business: “Thank you.”

Ok I’ve said it, but I am not sure I meant it. Some businesses do indeed what to help, such as Mr. Buffett and Goldman Sachs might be doing, but other large companies offer small business support just to sell us something. Many times what they offer is not the best for us, but what they have to offer. If they wanted to help, get to understand us, get to know us. How many large companies hire folks that use to own their own business, I bet not that many. But they employee folks with no small business experience and yet those people are the ones that are “helping us”.

By contrast, as a small business owner, I found it hard to spend any time focusing on the big picture. About the only two issues I obsessed over were getting enough money to pay the bills, and finding the next round of customers. For small businesses, it’s those month-to-month requirements that become a concern, rather than quarterly reports for the larger, publicly traded companies. The reality is that often times your only long term strategy is formulated in bits and pieces (i.e. over lunch one Tuesday); rather than over weeks and months that fully staffed departments have the budgets and the leisure of creating.

There is an upside to this ‘wing-and-a-prayer” modus operandi. A small business motivates people with a real dream. A mega-corporation doesn’t, and isn’t able to, truly offer that to its employees After all, how can you have a real dream knowing full well that next quarter your company may need to make more cut backs and you may end up on the list?

Small business is about a dream, a hope and a prayer. As a small business owner, you do not need to make a big dent in the marketplace; rather you need to make a strategic move to get the right customers and the right price (this means profitable customers). Let other companies fight for the low margin, marginal customers and problem suppliers; you must focus on what you want; think about getting what you want; and train yourself to steer clear from what you do not want. And therein lies the power behind your small business; your flexibility and your ability to make your own decisions.

So go to the trade shows hosted by the big companies, and get that business; big companies should do business with us. After all, we are important.