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Small Business Success in the Cloud
The document discusses the transformative impact of cloud computing on small businesses, highlighting how it democratizes technology and changes business models. It identifies socio-economic factors, technological advancements, and evolving consumer needs that contribute to a new economy where small businesses can thrive. By 2020, it predicts that 78% of small businesses will fully adapt to cloud technologies, affecting how they start, scale, and compete.
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Small Business Success in the Cloud
- 1. Dispatches from the New Economy Intuit’sFuture of Small Business: #SMBecosystem
- 2. Small Business Successin the Cloud STEVE KING, Partner, Emergent Research #SMBecosystem TERRY HICKS, Vice President and General Manager, QuickBooks Online Ecosystem, Intuit JOSHUA REEVES, CEO & Co-Founder, ZenPayroll
- 3. We are going througha disruptive shift… …and watching a new economy emerge #SMBecosystem
- 4. Dispatches from theNew Economy: Small Business Success in the Cloud Authored by Steve King and Carolyn Ockels, Emergent Research Methodology: Mix of research and forecast methods Builds on 10 years of forecast research with Intuit First installment released today; more to come #SMBecosystem Emergent Research
- 5. Major forces are converging Socioeconomics Customerneeds Technology + infrastructure Platforms + ecosystems #SMBecosystem
- 6. Socioeconomics Technology • Cheaper, easier • Marketing reach • Advanced capabilities Support infrastructure • The Cloud • Variable cost services • Coworking • Financial services • New funding sources • Education (on & offline) • Govt. programs, ACA Businesses • Partnering • Outsourcing • Contingent Workers • Supply Chain Expansion Consumers • Local • Unique/customized • Services • Experiences Economic • Lack of jobs • Reduced job attractiveness • Job Polarization • Economic uncertainty Social • Work/Life Flexibility • Passion, Meaning • Autonomy, Control Market & Labor Platforms • Etsy, Ebay, Etc. • oLance, TaskRabbit, Mturk, etc. • New talent agents • Airbnb, other sharing, etc. Ecosystems • Apple • Schwab • Google • Intuit, etc. Networks • Online • Meet-ups • Business partnering • Accelerator programs (e.g. Google Ventures) Demographic • Aging Boomers • Millennials • Women • Minorities Forces Driving the New Small Business Economy Customer needs Technology + infrastructure Platforms + ecosystems New Small Business Forms, Organizational Structures & Ways of Doing Business #SMBecosystem
- 7. #SMBecosystem Implications: Touches everyone New modelsfor businesses both big and small Completely new forms of small businesses emerging
- 8. The cloud is redefiningthe small business playing field #SMBecosystem
- 9. 2000’s 2010’s 2020’s Business& Societal Transformation 2030’s & Beyond Cloud Computing: A Transformative Technology GENERATION 3: Transformative Impacts on Business and Society GENERATION 2: New forms, structures & ways of doing business GENERATION 1: Efficiency gains #SMBecosystem
- 10. The Cloud DemocratizesIT Implications for Small Business: Cheaper and easier to start and scale a business Variable instead of fixed costs Greatly enhanced customer acquisition, service and support Access to technology and capabilities once only available to large organizations Enables platforms, networks and ecosystems #SMBecosystem
- 11. Faces of the NewEconomy #SMBecosystem
- 12. • Plug into services platforms and products provided by other firms • Enabling niche small businesses, the sharing economy, and peer-to-peer commerce • Creating business models based on ecosystems and networks EXAMPLES • DemandForce • Contingent workers, partnering and outsourcing • Growth of side gigs #SMBecosystem
- 13. • Emperors ofhis/her own personal empire • Brings together multiple income streams to create a career • Various activities may or may not leverage each other EXAMPLES • Freelancers • Millennials • Baby Boomers #SMBecosystem
- 14. • Individuals andsmall businesses leveraging shared talent to form teams • Focus on flexibility and agility • Teams form up and down as needed EXAMPLES • Pooling of resources in co-working and other shared workspaces • Agents using platforms like Elance and MBO Partners to form work teams #SMBecosystem
- 15. • Small businessesand individuals who compete head-to-head with larger firms • Leverage technology and platforms to attack markets once only served by large corporations • Happening in almost all industries EXAMPLES • 80 to 100 VC backed Pharma or Biotech companies will be created this year; hundreds more will start without VC funding • Craft brewers; artisan bike manufacturers; specialty clothing companies; etc. • Kiosk investment banks #SMBecosystem
- 16. The Future ofSmall Business is in the Cloud 37% 78% 20202014 By 2020, 78% of small businesses will be fully adapted to the cloud, up from 37% in 2014 #SMBecosystem
- 17. For more information,contact: #SMBecosystem Steve Sharpe Intuit, Inc. 650-244-2362 Stephen_Sharpe@intuit.com Jen Garcia Access Communications 415-844-6244 jgarcia@accesspr.com Stay tuned for Intuit’s next Dispatch from the New Economy Intuit’s Future of Small Business