For many of us it started as an idea, an observation that something was not working well or we could do it better.
So, we did something about it and started a small business.
Anywhere, Anytime, Anyplace
Small business is the backbone of economies, not only in the United States, but across the globe.
Most businesses don’t start out as the giants we think of them as today.
Think about the small businesses that are operating every day. Street vendors sell their goods in countries across Asia and South America. Food stands, cloth merchants and pottery are sold everywhere by small businesses. Some hope to make a living, some hope to grow into something bigger.
Starting Small
Most of the large corporations we see today started with someone’s vision.
Take, for example, the journey of Walmart. Sam Walton started his empire by purchasing a store from Luther E. Harrison in Oklahoma City, Oklahoma, and opened Walton’s 5 & 10, selling inexpensive items. In 1962, the first Walmart store was opened in Rogers, Arkansas. Walton’s strategy was built on an unshakeable foundation: the lowest prices anytime, anywhere. By 1967 the Walton family owned 24 stores with over $12 million in sales and soon Walmart’s started to sprout up in most towns.
McDonald’s also shares a small to big story. The world’s largest restaurant chain was founded by Richard and Maurice McDonald who initially opened a food stand in California in the 1930s, and later their first McDonald’s restaurant in San Bernardino, California in 1940. The brothers introduced a streamlined system with a simple menu in 1948, and in 1952, their building featured the iconic “Golden Arches”. The real turning point came in 1954 when Ray Kroc, a milkshake machine distributor, became a franchise agent and opened the first franchised McDonald’s in Des Plaines, Illinois in 1955. Today, McDonald’s operates over 36,000 restaurants in more than 100 countries.
Wow, these stories are making me thirsty. I could use something to drink, like a Coke. Coca-Cola, invented by pharmacist John Stith Pemberton in 1886, was initially a temperance drink and patent medicine. Sold first in Jacobs’ Pharmacy in Atlanta, it contained extracts from coca leaves and kola nuts. Businessman Asa Griggs Candler acquired the rights in 1888, and his marketing strategies led to Coca-Cola’s global dominance in the soft-drink market. Today, Coca-Cola is sold in over 200 countries, with consumers drinking more than 1.8 billion servings each day.
These are just three stories; history is full of them, each with an interesting turn, a lucky break or a moment of clarity that was not present before. Overall, it was and is a drive that caused a small business to plant a seed of innovation and growth.
Overcoming Obstacles
Today’s small business does face more interesting challenges than those in the past.
80% of all small business owners report that their expenses have increased by 6% or more in the last few years. Inflation and rising costs have eroded already thin profit margins, making many of us concerned about how to remain competitive.
Added on to this, is that more than three-quarters of small business owners are concerned about their ability to access capital. This challenge is tied to rising interest rates as well as banking stress resulting from regional bank closures.
Many of us are still dealing with supply chain disruptions. 63% of business owners say that they’ve had to alter their supply chain in the past six months. Some businesses have had to just discontinue production or offers because what is needed is just not available.
On top of these worries, new regulations and overseas turmoil are adding an additional layer of pushback that were not seen previously.
There Is Hope
But even though these issues seem daunting, there is a gleaming hope.
Artificial Intelligence (AI) is helping more and more small businesses cope with issues. AI is helping startups cut through the red tape and give answers to how to work around issues in foreign lands.
AI supply chain tools are helping find the essentials that a business needs and even suggesting work arounds that are cost-effective. AI is also finding unique and unseen ways to save costs that quickly add to the bottom line helping to lessen the sting of inflation and capital issues.
Moreover, AI predictive analysis can ensure that a small business targets customers for new growth opportunities as well as identifying areas within their business that should be updated or scrapped all together.
Your AI Wizards – Your Next Level Partner
Like many startups of the past, finding the best advisor helped them avoid some of the early pitfalls.
Your AI Wizards was developed to help your small business find and implement AI solutions that will help you market better and grow your business.
Our Website Data Pro (WDP) tool is a simple, yet powerful pixel when added to your website can help you identify customers ready to buy now. WDP lets you know who is opted in and when they visited your site, and what they looked at, giving you the power to market to them immediately. No wasted time or effort on sending generic emails. These are identified consumers that you can target with your best offer. And to show you how effective WDP is we offer a TWO-WEEK FREE TRIAL so that you can see how it works.
We also offer Your AI Business Store (AIBS) that will attract customers to your website. We offer premade, ready to post content for small businesses, saving you hours of what to say, how to say it and what graphic goes with it. You can now focus your time and efforts on growing and strategizing your business. New industries are being added each day, but we welcome you to contact us for a FREE consultation to discuss what you need and how we can create it for you.
Start Small But Think BIG
Every small business had challenges. For every Walton, Kroc or Chandler there are others that didn’t stick with their vision.
Don't let the challenges of today's business landscape hold you back. Embrace the power of AI and take your small business to the next level.
Contact Your AI Wizards today to schedule a FREE consultation and discover how our AI solutions can help you overcome obstacles, identify opportunities, and achieve sustainable growth. Your success story starts here.
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