Tips For a Small Business to Compete With Larger Companies

13 Nov

4046372919_24448feb21The business world has never been more competitive than it is today. This is especially true if you run a small business and must compete with massive corporations with millions of dollars at their disposal. While going up against the big boys is a daunting task, there are some things you can do to make your odds of success much greater in the struggle of David against Goliath. Here are some tips to help small businesses get an edge against their much larger competitors:

1. Get personal

One of the main things that sets many small businesses apart from the huge companies is their ability to create personal relationships with their suppliers and customers. At the end of the day, people want to deal with someone they trust, not some gigantic corporation that views their customers only as dollar signs. For example, some large auto repair companies simply want to get as many people in and out as fast as they can, to make as much money as possible. If you are a mechanic running your own business, take the time to get to know your customers by name. Give them advice on how to take care of their car to prevent future repairs. They will reward you with repeat business.

2. Be nimble

Although large companies will have more resources and a bigger staff than you, those things will also increase the amount of bureaucracy in their infrastructure. If a company has a boatload of managers and vice presidents, it will most likely take that company a long time to create, develop, approve, and implement a change in the organization. Small businesses do not have to worry about this. Changes can be made almost instantly. This can lead to better customer satisfaction and increased sales. Customer complaints can also be dealt with swiftly, as opposed to large companies that may need to filter the complaint through several departments before a decision can be reached.

3. Social media and technology

We are living in the age of technology, so use it to your advantage. Nowadays, a business needs a social media presence to be successful. There is just no getting around it. Connecting with people on various social media platforms is a wonderful way to get the word out about your business and the products or services you provide. Companies that respond in a timely and creative manner to customer complaints through social media can resolve small issues before they become large issues and show customers that you care enough about them to respond personally to their comments and complaints. Being proficient with computers does not hurt either. For example, if you do not know what PDF to doc means, you may want to enroll in some basic computer courses to get yourself up to speed.

4. Promote your company by telling your story

People get bored by seeing the same bland press releases from companies promoting how great and innovative their latest product is. If you run a small business, you need to separate yourself from this style of promotion as much as you can. Instead, use your commercial to talk about how you started your business. Tell your potential customers how passionate you are about your product or service. Enlighten them about how you started your business and the struggles you have faced. Products that use “brand biographies” have a way of capturing the imagination of the general public. People will always be fascinated by personal stories that were not cooked up in an advertising agency boardroom.

Starting a small business is challenging. However, following these tips and implementing them into how you do business can reap large rewards. It is important to remember that every large company was once a small company, just like yours.

About the author: Jared Jaureguy is a freelance writer and technology consultant. He loves staying up to date on all things tech. You can follow him @jaredjaureguy.



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