Welcome to this week's edition of The Small Business Corner!
The excitement of the football Euro Cup 2024 is in full swing. Later this week, the Copa America tournament will kick off, too. If you’re a football fan, buckle up because the ride is going to be an interesting one.
I hope I haven’t lost you yet. Are you even a sports fan? Maybe you prefer rugby or Formula 1.
What kind of sports do you practice in your free time, if at all?
On Saturday, I went hiking with a group of friends in Solana de Ávila, a small town in Castile and León, Spain.
The route isn’t long, around 8 km to get to the top and back. But it’s a walk uphill on a mixture of rocky trail and soil stretches.
At the top of the mountain, at an elevation of around 1,600 meters, there’s a beautiful lake, Laguna del Duque, situated within the Gredos mountain range. It’s a glacial lake formed by glaciers, creating a natural basin—essentially a bowl-like depression filled with water.
On our way, we passed by a herd of cattle, mainly cows called Avileñas (aka local to Ávila and the region), with distinct features that make them easy to confuse for bulls.
The place is very scenic and serene. As I stood on a cliff to contemplate the surroundings, I remembered an iconic clip from the British comedy series turned movie ‘The Trip’ starring Steve Coogan and Rob Brydon.
The clip, which on YouTube is titled ‘How to Spoil a Beautiful View,’ humorously depicts how annoying it can sometimes be when you’re trying to contemplate something in silence while someone next to you is showering you with information.
There’s a time for interesting facts and ‘did you know’ moments, and a time to just sit in complete silence to enjoy the view, I guess?
Thank goodness no one ruined the moment for us, and everyone was all too absorbed in enjoying the landscape.
Reflecting on this serene hiking experience made me think about the unique charm of rural life, which differs greatly from big cities. One reason is that big cities tend to be crowded and fast-paced.
In the countryside or small cities and towns, people find it easier to connect, leading to a distinct social dynamic. This often results in the development of a community spirit, where residents and businesses support one another.
A similar case can be seen in the difference between big and small businesses. When you’re a large corporation, like a big city, things tend to unfold at a very different pace compared to small businesses.
Often, when you’re self-employed or run a small business, you develop a different, sometimes long-lasting relationship with your clients based on trust, mutual support, and community.
Take the example of successful van dealer Dave Fishwick. Seeing that many people and businesses in Burnley struggled to access loans after the 2007-2008 crisis, Fishwick decided to support his community by providing loans to help with their personal and business financial needs.
In a movie biopic about Fishwick's venture into banking, his lawyer says, "My client is the type of chap people in his community can trust." This quote encapsulates Dave's mission to create a banking model that genuinely supports local businesses and individuals. You can read more about his inspiring story here.
If you’re a small business owner or an entrepreneur, ask yourself this question: are you the type of person your community or customers can trust?
Quote of the Week
"I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life." — Warren Buffet
Recommended Reading
The Five Sources of Uncertainty by Cedric Chin
“The problem with reading up on solutions for uncertainty, however, is that the popular methods we read about very often come from the realm of finance, where professionals have had to deal with uncertainty for far longer and at a much larger scale than is usually the case for the individual career. Such methods include actively adjusting for one’s cognitive biases, updating beliefs using a Bayesian method, and calibrating one’s beliefs by considering the big questions.”
Interesting Finds
How These Small Businesses Cultivate Community
“Community is at the center of many impactful small businesses. But how do you cultivate a flourishing community that grows with and supports your business? In this article, small business owners share the insights and lessons they’ve learned from creating communities.”
Video of the Week
In Search of Discomfort with Michael Easter
Michael Easter explains how our overly comfortable modern lives lead to physical and mental stagnation. By incorporating discomfort into our routines, we can improve our health, push our boundaries, and find more fulfilment.
Easter encourages finding a balance between comfort and challenge.
Watch Now
Join Our Community
If you’re reading this post for the first time and you’re not subscribed to our newsletter yet, don't miss out—subscribe to get full access to a mix of insights and strategies tailored specifically for small businesses.
Join our community of small business owners and entrepreneurs. Share your insights, engage in discussions, and support each other's growth.
About Us
As the name suggests, The Small Business Corner focuses on starting, managing, and running a small business. Hosted by the Xiva team, we also develop an app that simplifies business management and payments for small businesses and the self-employed. Here, you will find articles on managing and marketing a business, industry updates, tech trends, and in-depth analyses of lifestyle design, work-life balance, and small business communities. Join us as we support each other in learning and growth.
If you’re based in the UK, check out our Small Business directory. If you’re interested, you can also fill out the form to list your business for free.