What are the basic ingredients for success in a business?
Probably most people would answer this question by saying that the keys are: to
have a great, differential and cost effective idea, to have an entrepreneurial
spirit to implement it and the ability to find the necessary funding. I would
add to this short-list three additional ingredients: perseverance, hard work
and good luck.
Does it make sense to do an MBA to run an SME?
Recent researchs show that training is one of the most important
elements of competitiveness and it is essential for growth in times of crisis.
However when we talk about consolidated
small businesses we realize that this is often an overlooked aspect by both
employees and for managers. In fact, training often focuses exclusively on the
operational aspects of the business and it is only undertaken when there is no other
alternative (for example, when you must obtain an specific certification to
keep working with a customer).
The reasons? Most of business owners refers to the lack of
time and economic resources. However, there are a wide range of training activities
at very reasonable costs (often even free). There are also funding mechanisms
available to SMEs allowing in some cases get public subsidies of up to 100% of
the cost of training.
Another common argument is that the best school is the
day-to-day experience. And I agree. To some extent most of European SME managers and
owners I know have their most powerful strength in the experience. Usually
first-generation family businessmen are tanned in a thousand battles. They have
faced very difficult situations and, in one form or another, have found ways to
survive the competition, market fluctuations and the crisis . Should we settle
for this? I think we shouldn't. Obviously experience is invaluable, but it can
and should be complemented with a good education
It is also common to hear that the MBA and general
management courses contents are specifically focused on large corporations
executives. However, in the current context of globalization and crisis it is
essential for small businesses owners to be as prepared or more than managers
of large companies. Not just because they have to seek new business
opportunities, but also because the competition is fierce and only the best
will have a chance to survive.
This has been understood by many universities and business
schools as the UOC Business School that has found in SMEs a new promising
market niche. In this case, they have identified three major training areas: business management, change and productivity and competitiveness. In other schools like
ESIC they have also developed specific programs for SMEs. In both cases they seek
to provide an strategic vision in the medium and long term for those small
businesses owners who, as I mentioned before, are more focused on the daily
operations.
Furthermore, these programs are designed especially for
multifunctional profiles as far as in an SME there are not always specific
roles and a single manager can have responsibility for several functional areas
as diverse as human resources and marketing at the same time, to cite just one
possible example .
Chambers of Commerce and Business Associations have spent
years developing high-value training proposals for SMEs at very attractive
prices (in many cases for free). They usually offer very short programs focused
on providing business added value. An interesting example is the 360 º
sessions offered by the Barcelona Chamber of Commerce. These working sessions provide
methodology and tools to improve customer relationships and work on new
differentiated value propositions.
In short, there is a wide consensus in identifying the real
training needs of entrepreneurs and managers of SMEs. There are quality
training courses at reasonable prices that can meet those needs. It’s only a question
of having the ambition to improve and professionalize the management of the
company and devote time and effort to training. It is worth not leave for
tomorrow what you can (and should) do today.
