7 Ways Small Business Can Outperform Larger Companies

 

Keeping up with the larger corporate companies in business can seem like an impossible feat, but you may Tips for Small Businesses to compete against Corporate Companiesbe surprised to hear us say; it’s not as hard as you think.

It is usually assumed that large firms have the competitive edge to small companies due to the economies of their size, inevitably making tasks such as product purchasing easier. However, smaller businesses are often nimble and can teach other businesses a thing or too, and as a result repeatedly outmanoeuvre them.

At the end of the day you can win big because people know that you are good, not just because you are a big organisation. So, don’t be afraid of being small and instead relish in the glory that bigger isn’t always better.

Personal Identity

Small businesses can benefit from crafting a strong identity and creating a story which consumers relate to. You are able to communicate directly with your clients unlike lager corporations who can often become a faceless mass. So, make sure that you don’t have a poorly crafted logo, or dodgy imagery on you website ensuring that you have a strong rationale for everything that represents your business.

Business is largely about meaningful relationships and how you position yourself in the market, so leverage your personal identity to connect with your target demographic, strategic partners and even local community.

Nimble Working Environments

As a small business owner you are likely a part of the day-to-day running of every aspect of your business. Not only do you know exactly what is going on in all areas, but you are able to retain personal relationships with staff allowing for a positive work space culture. A positive working environment, with all involved promotes wider creative thinking, innovation, and development ideas for the business. With each individual bringing different experiences and perspectives to the table small business can hugely benefit from collaborative work spaces.

Additionally, with fewer staff and less managers, bosses and boards to answer to making changes within your company is easier. With less hurdles to jump you can adapt to changing conditions in your industry far quicker than large corporations ensuring continued relevance to consumers. For example, an ecommerce business can quickly adapt product assortments in accordance to fashion, latest models and so on.

Excellent Service

Smaller business have a ‘leg up’ on larger corporations when it comes to business. As mentioned before it is essential to leverage your personal brand, personal relationships and human touch to make your consumers feel ‘special’ without creating unrealistic expectations.

Bigger brands can’t get the turnaround as quickly as a small business, where you can have already started delivering on a project before a big corporation have gone through the rigorous avenues to make a decision. Ensure that you position yourself to make quick decisions and are flexible to meet the needs of the consumer.

Large companies give off the impression that they are all about making big numbers. However this can leave individuals as though their needs aren’t all that important in the grand scheme of things. You should ensure that you can deliver products and services in a reasonable time frame and to exact specifications certifying that you and your business are an indispensable asset.

Tone

Without the pressures of big corporate editorial and legal teams, smaller businesses are free to write fantastic content for the likes of blogs and newsletters without legal teams combing every word. Therefore you can be more candid, interesting and easier to relate to with the opportunity of creating fun, out of the box content for your customers. Ultimately businesses with personality allow clients to relate to you, your experience and buy into your brand.

Focus On The Niche

Despite the fact that many entrepreneurs are taught that the larger the market the greater the opportunity, you should try and find a niche in your industry. Don’t try and compete with the big boys on a level that ensures you fail before you even begin. Focus on areas that allow you to provide clients with a valuable service or product, offering something specific to a group of people with unmet needs.

However, and we’d hope it would go without saying that, avoid at all costs niching yourself so much that very few people actually need your business. Find a balance which offers clients a valuable source of invaluable help.

Vendor Relationships

You shouldn’t forget that the vendors you deal with on a day to day basis supplying you with products, packaging and shipping services are running a business too. Many big corporations are after low-margin prices and squeeze retailers for insulting deals. Therefore vendors are usually much happier to work with small business who respect them offering much healthier, more realistic margins. Building great relationships with your retailers, as much as your consumers, means they are significantly more motivated to work with your supporting another competitive edge against larger corporations.

Build A Community

You don’t have to spend your business earnings on the likes of TV advertisements and billboards; it simply isn’t necessary. A culture is one of the biggest marketing tools at our disposal, especially in a modern world dense with social media platforms and instant communication.

Build a community, both ‘real’ and virtual, where you can encourage hundreds of people to join in a conversation raving about your products and services. Whether you display passion in a fantastic social media strategy, get people excited with fascinating blog posts or provide great offers to local individuals you can truly compete with large corporations.

Don’t Be Afraid

Don’t be afraid to go after and outperform big corporations in your industry; it’s likely that consumers will flock to a smaller business who can offer not only excellent products and services but fantastic customer relationships.

Posted by Paul Randall
16th February 2015