Business Focus: How to Compete and Beat the Heat of Giant Competitors
It is intimidating for a starting entrepreneur to compete with multi-million or multi-billion companies and corporations likened to the story of David and Goliath. Surely, large companies or giant corporations have big resources but they also have huge bureaucracy, so they are a lot slower, especially when it comes to customer service. Differentiate yourself from bigger companies by instilling a culture of fast speed customer service through prompt answering of calls and emails, delivering of samples within days or weeks instead of months, and train team of phenomenal customer service and technical service personnel who are empowered to make smart decisions on the spot.
Do not lose heart even if you always get “no” all the time, take the risk and be brave to find for potential clients, and when you have clients, be sure to take care of them because this is what giant companies miss, they take their clients for granted. Once you got the smallest opportunity, handle it well with your great performance. Of course, there is no denying that you have a small business, but it doesn’t mean you need to act like one because even though your competitors invest millions on research and development, you can create your own strategies, be resourceful, unique, and innovative and eventually succeed. In any business you need to be smart in making decisions, execute success, and believe in the power of self-fulfilling prophecy backed up with hard work, research, and the right attitude. Many large corporations may actually be tone-deaf and they may not actually know how to listen to what their clients want, and there are a lot of times that they still have off-the-shelf products and outdated services that customers are complaining about. This is your opportunity to do otherwise and show consumers that you are willing to take care of them by availing your products and services and that something new or small should not be a basis for turning you off. Above all, it is essential to listen to what your clients say, taking into consideration their suggestions and opinions.
Remember that things do not happen overnight, so it is important to offer a personalized service not just to your customers but also to your employees because surely you have the best of all the small business 401k plans, but you need to offer your employees hold a responsibility, create a difference, and feel like a person, not just a number. As long as you have superior quality products and services, don’t allow to be bullied by larger companies when they put up their business besides your business because you can focus on your own and what you without cutting down your price given that you believe in your brand and what you can do for you customers.
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