Thought Leader - Mike Smart on how SMBs deal with market uncertainty

Founder of Egress Solutions, Mike Smart. For over 25 years in the information technology and software industry including several executive positions with responsibility for product management, product marketing, development and operations for NASDAQ--traded companies in the internet and software industries. Michael Smart has successfully guided the development and launch of new products in the internet security, service management and mobile data software markets. The most exciting and rewarding work he does is show marketing and product executives how to change the ground rules and win in the market with their solutions.

Ed welcomed Mike, an experienced IT and software industry executive, to the podcast. They discussed the challenges small and medium businesses are facing in the current economic environment, with Mike emphasizing the importance of companies being customer-centric, solution-oriented, and understanding their business principles. He highlighted that having a clear business strategy and being able to validate it is crucial for companies. They also discussed the difference between strategy and strategic planning, with Mike emphasizing that even an unarticulated strategy exists if the business is sustaining itself. Mike warned that employees who don't understand their value or how their contribution fits into the organization are at risk of quitting or resigning in place. Ed asked Mike who his hero was, and Mike expressed admiration for individuals who are pushing themselves forward despite challenges.

Summary

• How small and medium businesses are dealing with economic uncertainty
• Business principles and profitability in uncertain times
• Business strategy and purpose with a focus on revisiting and validating
• Strategic planning and articulating a business's purpose
• Employee engagement and leadership with Mike Smart