Think
your business is too small to compete with the bigger players? Worried that you
can’t give the same price, service or product that they do? Do you stop going
for business if you will be up against the bigger players? Or do you avoid
certain products and services because you are worried about being a smaller
business? Think again – being a smaller business can be a big advantage. Here
are 7 reasons why:
1.
You are a Specialist - You can
specialise in a target market, product or service in a way that a huge company
isn’t able to – be clear about who and what you are trying to be and
concentrate on that. Get known for offering something specific to that group,
instead of trying to be all things to all men, like the big players do.
2.
You are Lean and Mean - You do not
have the costs and bureaucracy in your business that a larger company will
have. Chances are you can be quicker to respond to things, faster to adapt and
probably more cost effective – so make sure your customers know that. People
have got used to slow service with large companies – wow them with your speed
of response and ability to make a decision that is personal to them, not based
on company policy.
3.
You are Passionate about every
customer - Customers know that if they are one of thousands or millions of
customers they will become a number not a real customer, who is treated in the
same way based on what the computer or policy says. Make sure your service is
personal at every opportunity and never lose the chance to show a customer how
much you care about their business.
4.
You are Quicker to react - If you
see a customer need you can move on it quickly and make it happen. No internal
approval committees or lengthy product development processes. You see a
customer need or a market trend and you can respond.
5.
You are a potential supplier to the
big players - Always remember that many of the big players do not do everything
themselves – they need smaller businesses to provide services and products to
them that they can sell on to their customers. Instead of always viewing the
big competitors as a threat, think about how you could offer them something
that is in both your interests.
6.
You are Hungry for more - Often this
is the most important thing. If you are a smaller business and growing, sales,
profit and customers really matter to you. You are hungry for success – in a
way that big companies can’t instill in every one of their employees.
7.
You are a small business - Never
forget that there are many buyers out there who do not want to deal with the
big players. Those people want to support local businesses, deal with people
with similar personal values, be different from the crowd or maybe just feel
important. Whatever their reason, focus on these people and play to your
strengths.
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