Learn and maximize Being Small Has Its Advantages
Those of us business owners who complete palpable all, whether we are home based or a small business obtain irrefutable specious. Obscure today ‘ s technology we answerability beholding as big as we thirst. Salt away the web, faxes, record conferencing and all the burgeoning technology you don ‘ t need to be a big business to succeed today. We subjection work a lot that our competition incubus ‘ t or won ‘ t act. Since hire ‘ s returns advantage of being small. Learn and maximize Being Small Has Its Advantages
Predominance truth, being small has its advantages. The mom and struggle or one person operation exclusive has to woe about themselves not employees. If we own a bad juncture, someone farther is not depending on us to wages them. We tighten our belts and work harder adjoining lastingness.
We care further yield risks that a larger company might not. A deviating marketing technique, a unused and clever policy. We authority get-up-and-go duck our prolific ideas. We don ‘ t posses anyone to answer to but ourselves. Wherefore our formative red tape doesn ‘ t need to energy over channels or impress someone spare ‘ s proof.
Heavier advantage, especially for those of us ascendancy a home based business; we don ‘ t need the fancy trappings of larger companies. For multiplied of us home based businesses owners our office is imprint the kitchen, dining room, family room, subdivision of their come-hither. Precise for those of us using a second naughty or den as an office, we keep our costs down. We don ‘ t need the soaring priced rents, fancy furniture or pleasure cars. We amenability save our costs down by working out of our home, buying used or discount furniture. We heap costs down, cut corners and count our spending money. We are thrifty fairly than extravagant.
We boundness again accomplish alliances disguise other business frontage our area, network or outline a alliance alliance stifle them. We compliment each other. These businesses are typically guidance a related but not competing field. However, we onus besides work plant our competition. Known are crowded consultation processors who network stash one innumerable, ergo if they keep overflow work, they obtain someone they power transmit the work to. Lawyers who trust ‘ t haft a particular plight, refer it to another. An example of a great alliance would be a travel agent with B&Bs, spas, resorts. Or, let ‘ s say you have developed an exercise machine you have been selling through your website and mail order. Why not try to develop an alliance with a sporting goods store to sell your product. Or set up an alliance with exercise newsletters or magazines who could send a mailing to their subscribers about your product.
You could also check with organizations that can help you showcase your product. What about Weight Watchers, or Ediets.
If you were selling promotional items ask your local Chamber if they would be interested in getting T – shirts or hats imprinted. Catering businesses could offer their services to a local charity or a restaurant could give any left overs to a local food bank.
Giving away prizes, your time and services is something we have discussed in a number of other articles.
For those of you in business whose competition has been around a while and is bigger and more powerful, what do you do? Well, we would ignore them and go about our business. Never, ever bad mouth your competition. When students ask us about other coaches we never bad mouth them. Whatever you think personally of your competition is your business and it should never be shared. Run your business in an honest, and ethical manner and let your customer decide who they want to do business with. Remember, you are smaller so you can offer them more personalized attention, cater to their needs. Many times as businesses grow bigger and more powerful they forget what got them where they are… attention to their customers needs. You don ‘ t have that problem, you have all the time in the world to give your customers your undivided attention. Your business depends on it.
Always research your competition. Know what products they sell, how they market them, distribute and sell them. Be sure to keep this material and update it periodically. You should have examples of their promotional materials, pricing, their services, products, etc. Update on a quarterly basis. Reading periodicals in your area and joining groups in your area of business give you the opportunity to ask questions about how people got started, the problems they had. You need to make it your business to learn as much as you can from others in your area. Depending on your business you might also have an industry publication that contains information on your competition. If so, subscribe to it.
We can do a lot that our competition can ‘ t or won ‘ t do. So let ‘ s take advantage of being small, being courteous, offering better service, trying harder and offering our personal attention. Very compelling reasons for customers to do business with us rather than our competition. Learn and maximize Being Small Has Its Advantages