Business Focus: How to Compete and Beat the Heat of Giant Competitors
It is really intimidating for starting entrepreneurs to face millionaire or even billionaire entrepreneurs like the story of David and Goliath. Giant companies and corporations are surely rich with unlimited resources, but they also have bureaucracy, making them a lot slower, especially when it comes to customer service. Be different by having a culture of fast speed customer service by responding to emails within minutes or few hours, delivering of samples within weeks instead of months, and having a 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. Be smart, exude confidence, execute and believe in the power of self-fulfilling prophecy backed up with hard work, research, and gaining of proper skills and 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how to listen to what their clients want, and there are a lot of times that they still have off-the-shelf products and outdated services that customers are complaining about.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 the best time and your greatest opportunity to show your consumers that you are willing to take care of them by availing your products and services, and make them realize 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, 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, and so as with your customers. As long as you have good quality products and services, do not allow to be bullied by larger companies when they put up their business beside yours because you can concentrate on your own without cutting down your price.