So you're a small business and it's been tough through this pandemic thing. You bet. You've done something that many peers have not - made it. The thing you need to start believing - is that your status as a small business is a strategic advantage. It's time to leverage that - now. Here are a few concepts:
FLEXIBILITY
Companies larger than you have rigid structures and rules. Their employees aren't empowered to make things happen because they're often too far removed from the person who can decide its OK - to cater to that everyday customer experience the way your team is capable. Think of ways that you leverage this in your message and in your approach to prospecting and customer experience.
COST AND PRICE CONTROL
Large competitors (even midsize ones) have built in overheads to cover the excessive process controls and buying and selling practices (and personnel) that make up their engine. They have a cost of sales that can't beat your model, because while they sometime buy goods or services at a lower cost than you, their margins included to cover overhead, make their pricing out of reach for a segment of customers you can key on. What's more, you can change process, supplier or pricing - at will, and their model will take time and money to react.
CREATIVITY
Your approach to the market where your target customer lives will often include standard practices, but in large part, small business creates market niche areas, and ways to motivate customer behavior and urgency in more successful ways than your larger competitors do. They often don't create market niches, but just try and copy them as aggregators. You can take advantage of a situation swiftly, and with a home-spun message and packaging to your offering that people want to support. When the big guys join you - creatively improve and make them pale.
PRODUCT/SERVICE QUALITY
When the owner of a small business is watching each and every product or service transaction, its a different quality process in play most often. Fixing issues is also easier - and customer satisfaction is controlled - because each customer is important - each transaction has meaning - and each employee represents the brand in a way that isn't matched with the larger entities where you have a customer number, not as often, a personal relationship.
SPEED TO MARKET
Who's getting their first to match a need in the segment you participate in? You are. Start to think of ways that you can expand that speed into a value proposition in your messaging - and by continuing to be the "first to offer" every chance you get. Customers will come to know you as the market maker - and someone they need to stay aware of and close to. That's a big deal!
SIZE CLOAK
Here's the part most small businesses don't get - you can surround all of these values and differentiators with a "size cloak" that will further generate interest and new business. What's a "size cloak"? It's the professional business behavior, materials, process and "look and feel" that you can easily and inexpensively create in your small business that make people think you are larger than you really are, and therefore they are even more willing to support your business as a customer and/or a partner. After all, that's how many small businesses become big businesses - before they're really a big business. there are ways to create the look and feel that help a customer or partner over the "you're not big enough" risk - so that it really never enters the discussion. Check out our podcast on SPOTIFY for insights.
Need help maximizing your image and visibility - and understanding the mechanisms to excel? That's our thing. We can help. Small business take over. Set up a consult today.
LouMac Strategies llc
www.loumac-strategies.com
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