It was the year 1998, when two young students from Stanford University, Larry Page, 23 and Sergey Brin, 24, collaborated to start a new search engine. With Dedication, passion & a solid idea in mind, they started quite small with a rented garage from a friend. With the passing time, they faced many failures, only to use them as learning experiences and make history with their staggering success. Today, we call it Google, the most popular search engine of the world with a worth more than $500 billion.
With such a small start, Google has surely come a long way till now. On its 20th Birthday, let’s have a look at a few of the strategies which helped Google grow from the status of a small start-up to a big corporation and a few imperative lessons small businesses can learn from it.
If you look at Google, it has never failed to reinvent itself from time to time. Starting with a simple search engine site, it now has occupied the market by offering different new features to its customers. Similarly, small businesses must keep in mind that in order to keep moving forward, they have to keep adding planks to themselves. Just remember, the moving target survives while those who stand still, die fast.
Take Risk and Expand
Think if Google had just confined to being a search engine company. Had it been where it is right now, at the top of the world? No, right? Google took both small and big risks and expanded its territory more often than not. After all, you never know which path will lead to unforeseen success. So, take that risk now!
The story of one of the biggest companies is not all sunshine and rainbows, in fact there have been many rainy days for Google. What small businesses can learn from it is that failing does not necessarily have negative connotations. Failure is in fact good, but failing slow is detrimental to any business. So do not hesitate to try out new things, take big risks and fail, but remember to fail fast. Launch, iterate, declare the failures as quickly as you can and most importantly, learn from them and move on.
Focus On Your Customers
If you look at Google, you will know they have succeeded quite well in retaining their users (customers) over time. Attracting new customers is not a big challenge for small businesses a lot of times but making them stay is the real trick where they often lose at. Whether it’s providing excellent customer service or offering great perks to the existing customers, small businesses must strategize well on customer retention. Remember, your loyal customers will pave the path for your success.
When it comes to customer engagement, Google has always been the king of the hill. From providing comfortable, work-friendly environment to its customers to organizing recreational activities from time to time, Google knows how to avoid adding the element of monotony to work, which in turn kills creativity. Small businesses often in the usual hustle bustle forget this vital ingredient of success and do not focus on employee engagement which they must stop now.
Google did not sit idle, never! It always had an eye on new opportunities and successfully grabbed them before its competitors. Similarly, small businesses should not wait for any new thing to be tried and tested by someone else to minimize the risk of failure. If something new is the emerging need in the industry, they must be the first one to act decisively and beat their customers.
These simple yet useful tips from Google can make a world of difference to your business, do not ignore them. Happy Birthday Google!