Do you think that bigger businesses have an advantage over your comparatively smaller business? It might have been true 15 years ago, but in the times of the Internet and especially social media and social networking, a level playing field has been created. Even a single entrepreneur can take on multinational companies with creativity, hard work and timeliness.
Just as big businesses have some advantages over you, your smaller business also has some advantages over bigger businesses. This blog post on Duct Tape Marketing explores some natural advantages that a small business enjoys over a big business.
- A small business has a narrow focus: You can easily narrow down to the specific service or market needs that is not possible for a bigger business. You can provide highly specialized and focused products and services to a select group of people who specifically want to work with you rather than a nameless entity.
- There is a greater level of expertise: Most of the big businesses depend on service and support staff that might not be as adept as an individual who has gained experience by actually delivering the service. They don’t have the experience that you have. So when your customers and clients are looking for that special bit of experience and expertise that only you can provide, they’re going to stick with you.
- A greater level of agility and flexibility: It is not easy for every organization to implement changes on a weekly, or even a monthly basis. A small business on the other hand can quickly change according to changes in technology and the requirements of your customers and clients.
- A freedom to strike up new partnerships: The underlying strength of small business is the various partners contributing their bit. A single individual these days cannot provide all the components of a project. You need to involve people with multiple talents. If you are a big business striking up new partnerships is a cumbersome procedure and may take lots of legal and financial negotiations. The small business can start a new partnership within a couple of hours.
- Technology triumphs might: If you have access to technologies that bigger business doesn’t have, you have a great advantage. Technology doesn’t just improve efficiency, it also speeds up many of your operations and brings your competitiveness at par with the bigger business.
- There is a personal connection: The onset of social networking has proven that people crave for personal connections rather than carrying out business with nameless and faceless organizations. They want to talk to you, they want to see your face, and they want to hear you. They feel more assured when they know you as an individual. Very few big businesses can achieve this level of personalization.
Again, technology and innovation are big levelers. The mega businesses of today once started in single rooms and basements. By the sheer strength of technology, hard work and innovation they have scaled unprecedented heights.