How Technology is Affecting Small Business

Professor Schorer is a serial entrepreneur who specializes in the start-up acquisition and development of small and mid-sized companies. He focuses on businesses with unique ideas or technologies that are in need of guidance during their initial growth phases. Cliff has been involved with companies in the high tech arena, his last position being CEO of GeoVideo Networks, a Lucent Technologies Venture. Prior to that his career included businesses in the real estate, office-supply and health care industries. During the early 1990's he spent a considerable amount of time in Russia using his entrepreneurial approach to assist in the privatization process During his extensive professional career, Schorer has lectured in numerous business and academic forums both in the United States and abroad. He has developed financial management software programs for business education through his publishing company Bized.

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TRANSCRIPT

Question: How is technology affecting small business?

Clifford Schorer: I think the biggest thing is the internet in my opinion is probably as profound or if not more profound in mention than the printed book and — or the computer itself almost because it's linked the world together in one cloud and that's incredible so that it' possible for a small business person now to reach markets that just ten years ago were unthinkable. So you can sell products all over the world if you have that type of distribution. Also you can bring together markets very, very quickly. You can create markets by having a common social interest or a common need for a product that heretofore was unheard of. I'll give you an example. I happen to be a boater and love boats. Well, ten years ago if you wanted to buy boats you kind of drove around the boatyards and looked at ads in the local neighborhood. Today you can go online and see 100,000 boats for sale all over the country with people more than willing to ship them to you. So I think it's changed the way we do business and I think it's very, very exciting.

Recorded on: 5/13/08


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