Last Updated on August 20, 2018 by Jessica Adams
As an entrepreneur, you are probably not running a massive business. It’s fair to say that your company is likely quite small with only a few employees and you might even be running it from home. However, that doesn’t mean that you should be running your business like a small company. Instead, you should be looking at Fortune 500 businesses for inspiration on how to run your business model. The people in charge of these companies don’t mess around and neither should you. Treating your business model as a hobby is the easiest way to make mistakes that probably will bring it crashing down. Read on for a few tips on how to run your small company like a Fortune 500.
How To Run Your Small
Company Like a Fortune 500
Size Does Matter
You might think that customers don’t care about the size of your company. But as it turns out, this isn’t true. Despite what you may believe, most clients and customers don’t want to buy from an underdog or an up and coming business. Nope, they want to buy from someone who is already 
successful and has a proven track record on the market. You may not have this yet, but that’s okay.
All you need to do is make it look like your business is already a success. You can do that, by using something like a virtual office. With a virtual office, you can cut the cost by running your business from home, but your clients will see a company that is being run from the middle of the city out of a major office. This is the way that you get the best of both worlds. Remember, perception is everything in business.
In Is So Out
You might be thinking about building a full in-house business. This is a great way to build up a loyal, dedicated team of workers who will be committed to your company. But let’s not kid ourselves here. If you do this, then you are going to be taking on a lot of costs. Big businesses don’t even do this very much. A lot of companies these days avoid the cost of a full team of employees by outsourcing an 
entire job or by using freelancers. That’s what you’ll want to do too.
Believe it or not, loyalty isn’t everything in business and getting a great team for a fraction of the cost might be worth more than a business that feels like a family. So, what can you outsource? Everything really – with companies like ProviDyn, Inc., you can have managed IT services running behind the scenes of your company without hiring a full IT team and paying them a monthly wage.
Take A Risk Or Lose It All
Finally, you might be wondering how Fortune 500 companies rose to the level of success that they have achieved. Well, they didn’t get there by playing it safe, that’s for sure. So, if you want your small company to eventually reach new heights, then you shouldn’t be against taking huge leaps of faith. Obviously, that doesn’t mean that you should be betting all of your business on black! But calculated risks can be the difference between the next Spotify and the next Napster.
This has been a guest contribution from Kevin Dwyer, in the Small Biz “Mini-Post” Series. 1K words or less & open for Guest Posting!
Edited by Jessica Rose Adams
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