4 Strategies for Small Businesses to Beat Large Competitors

I‘m always on the lookout for articles with the potential to positively change a business. What’s your take on the following points I came across recently?

Your small business wasn’t meant to stay small, right?

Research shows the main reasons people start businesses include:

• Wanting to make more money
• Wanting to improve a product or market
• Having a passion for business
• Wanting to empower others

If you had any one of these motivations your business plan was focused on making it big:

• Money lies in great success
• Only large corporations can employ many people and empower them to move up through the ranks
• Business is about growth, not keeping the status quo
• You will gain respect of the market and your peers as your business grows

So how do you succeed in growing past your competitors?

1- Build Relationships

Here’s a surprising fact: Customers aren’t only after the best and cheapest products. They’re after the best customer service. And much of that has to do with quality relationships. How good are you at building them?

A consumer hopes to get treated with respect and to find people he or she can engage with. If you provide this more than the big corporations you’ll gain the client’s loyalty:

• Respond to inquiries fast to show respect for people’s time.
• Reply to social media comments to engage in conversation.
• Develop an app to stay in constant communication with clients.

This is something you can easily do better than competitors without a huge capital investment. And loyal customers are a valuable asset and one of your best marketing tools. Make sure they talk about you to their friends!

I’d be really interested to know your opinion. Check out the full article here and then I’d be happy to discuss with you by phone (0429) 011-071 or email [email protected].

To your success,

Ian