Throughout the past few years, the accessibility of going into business for yourself has increased considerably. However, this does not mean the path to success is easy. Some of the most established companies in the country are aware when someone is creeping into their territory, and if they are not, their presence still affects small businesses. So, how can a small business compete with these titans of industry? The following list includes four tips for accomplishing that very goal.
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One of the most common complaints from customers when dealing with large companies is a lack of effective customer support. Although most of these large businesses do have giant call centers with hundreds of staff, they are often not the most effective at solving problems. This is where you come in. Since your clientele is still relatively small, you are able to provide your customers with a better overall experience.
This also makes your business run smoother on your end. So, the next time someone calls in needing assistance, what better way to show that you care than by having the owner themselves helping you. Your customers will truly begin to feel valued and more likely to shop with you again.
The unfortunate fact is that no matter how you approach a business, you might never be able to compete with the likes of a Wal-Mart or Target. What you can do is begin to niche down to find your core audience. A very popular story involving this method comes from the co-founder of Redbull. Dietrich Mateschitz, when he first introduced Redbull to the world, did not know how to market it. People weren’t really sure what an energy drink was, and thus, sales were slow.
Mateschitz quickly began marketing towards a small niche of the market, students. The product, as you may know, is now one of the most popular energy drinks in the world amongst not only students but the general public as well, but he first had to niche down.
An incredible benefit of running a small business is being able to be transparent with your customers and staff. Unlike within a large corporation, most information has to go through channels of approval, and by the time it makes its way to the public or the press, it can be extremely watered down. This is an opportunity to demonstrate to your customers that unlike the big guys, you have integrity and are willing to be transparent with them.
Transparency doesn’t only have to be emphasized when issues arise. In fact, it can also be used when you can’t offer certain perks that most people are used to. Leading online retailers have invested massive amounts of money to offer one-day shipping straight to your address, which means consumers now have different expectations when they make a purchase. Be transparent when customers ask why you don’t offer this perk. Although not all will be satisfied with your answer, most will appreciate your honest answer.
Since large corporations tend to have way more customers than anyone can even count, it’s hard for them to really personalize any of their packages. However, you can. One of the best ways to stand out from the larger competition is to personalize your packages. A thank you note with your signature within every package can really go a long way, and no doubt makes the customer feel valued. These little things allow you to form shopper confidence and, ultimately, customer loyalty.
Creating a small business is hard but it’s much harder when you have to compete with the big guys. Therefore, to stand out and become a company people truly want to do business with, it is important to be proactive about your business approach. This can be accomplished by making sure that the four tips listed above are followed.
Growing your business takes time. However, that doesn’t mean you need to do it alone, or that you should delay staying healthy when you run a business. I am personally here to cheer you on and share resources for your growth. Regardless of your current level of growth in your business, make it a priority to manage your expectations and customer relations in your small business for a strong foundation to sustain you for years to come.
StephanieCristi’s Top Recommended Side Hustle Resources
- Hosting: DreamHost
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And for more of my recommended tools, feel free to check out all the Tools I Use and Love!
With all my love,