How to Harness the Power of Your Small Business in a Market of Major Competitors

August 8, 2019// Category: Agencies // Author: Marissa Perez

Amazon and other major retailers hold a firm position at the top of the market. This position has earned them many benefits (such as an established presence and steady revenue) that will help them stay there for the foreseeable future. Nonetheless, your small business doesn’t have to suffer while big retailers succeed; actually, you can use the small business platform to your advantage and build a company that accomplishes more than you could imagine. For the small business owners out there, here are some ways to harness the power of a small company.

Learn to delegate tasks

 One reason that many small companies struggle to grow is that one or two people are trying to do too many things. While it can be difficult to trust others with certain tasks and projects — especially if you’re the most knowledgeable and skilled in that area — trying to do everything yourself will make it hard to do anything well and it will eventually lead to burnout.

Time is money, and an owner’s time should be spent on developing and growing the business. Start delegating tasks so that you can do just that. There are even plenty of tasks that can be adequately handled by virtual assistant freelancers (e.g., customer service, data entry, scheduling, administrative support). Visiting a good online job board can put you in touch with qualified candidates who can work as remote office assistants.

 Discover your company identity

One of the biggest advantages of running a small company is that you can pinpoint your company’s identity and run with it. A lot of people would rather buy goods and services from a company with a unique personality and a focused mission.

As you discover what you want your business to represent and offer people, find your niche market, begin building your brand, and don’t be afraid to get creative. For instance, if you sell products, make sure your products appeal to your niche market in a unique way. Think of different ways you can present those products through your brand story, promo videos, packaging, item descriptions and so on.

Provide a personal touch

Part of presenting your company’s identity is adding a personal touch to various aspects of your business. Provide top-notch customer service, gift wrap items for free, add handwritten notes in each package, and/or give customers a follow-up call after a delivery. These are the kinds of things that provide customers with a special experience they often can’t get from a huge, faceless entity.

Give your employees influence

Another benefit of running a small business is that each of your employees can have a voice in the company. Allow your employees a seat at the table when it comes to decision making, and take advantage of their different perspectives. Not only will you have more diverse ideas, but your employees will be more likely to work with passion since they are personally connected to the success of the company.

Build customer relationships

Finally, it doesn’t get more important than this: foster your customer relationships like bigger companies can’t. Customers are everything to a small business, and working to build those relationships is how you gain and retain customers. Offer personalized customer service and support that exceeds expectations, constantly thinking of ways to appeal to customers through social media and email marketing, and think of any other ways you can grow your presence within your niche.

There are plenty of ways your small business can compete with larger retailers. Remember to delegate tasks, use your company’s identity in all your operations, and add a personal touch to your products, services and marketing. Also, make sure your employees have a voice in the company, and foster your customer relationships. Learning to embrace the size of your company and use it to your advantage will help you to thrive among major competitors.

Photo Credit: Burst

Marissa Perez is this month’s guest poster from businesspop.net