It might be easier for a small business than for a multinational corporation to successfully reach Millennials.
“The advantage a small business has over a large multinational is the agility factor,” said Cheryl Cran, CEO of Evolutionary Business Solutions, which advises clients in a variety of major industries. “And the small businesses that will be successful are the ones that have owners who are the most agile.
“Being a flexible, adaptable, approachable business owner is the future, anyway, even if we aren’t talking about Millennials,” she said. “Let’s say we were talking technology. The most successful small businesses will be those that can leverage what technology can do for their business. And if they’re leveraging what technology can do for their business, they’re automatically adapting to Millennials, because Millennials are so technologically savvy.”
Some small business owners may feel threatened by the increasing shift toward meeting the needs and desires of Millennials, because they’ve never done it before. But that’s the wrong attitude to take, Cran said.
“Rather than feeling threatened by the shift,” Cran said, “it should be more about: ‘How do I get on the wave of this shift?’ It should be: ‘Rather than having to catch up two years from now, when everybody else is ahead of me, I’m on the leading edge, so when I’m really wanting to get the business from the Millennials, I’m already there.’”