One of the things that scare so many entrepreneurs itching to launch their own business is the fear of competing with the big competitors that are already out there. The corporate giants that have already got a stranglehold on the market, giants with big dripping jaws and club hands. How does a startup business compete with the likes of these?
It is a legitimate fear and a legitimate question. Luckily, startup success is knowing exactly what strengths you have and knowing exactly how to use them with immediate effect, and to help you achieve this, we have compiled a list of big punches and small business can pull, the kind that could tumble a giant.
Be More Personal
The first thing you should do when launching into the marketplace is leverage your small stature and become the personal brand; the one that your audience can connect with. That’s what big businesses lack. You, however, have the ability to make strategic partnerships, build a community and carve out a brand that celebrates all of this.
Use Tech Effectively
Technology does a lot of things for a lot of people, but what it does best is level the playing field that little bit more. That is why it’s so worthwhile investing in tech early doors, and tech that will put you on level terms. If you’re launching yourself into the industrial manufacturing world, then see what digital meters https://www.abestmeter.com/oxygen-flow-meter/ can offer you at a price you can afford. If you are setting up a cafe next to Starbucks, then get yourself a coffee machine and and go to http://www.eposnow.com/ to get a system that will improve your efficiency and your customer’s experience. The aim is to improve your process, save you time and make you money. Remember that.
Passion Always Wins
The thing about passion is it is infectious and contagious, and it leans in your favor as well. You are probably starting your business because you are passionate about it. Even Richard Branson can’t sing the praises of passion loud enough. With passion, you have that fire in your belly and excitement in your eyes, and your customer will latch onto that. Bigger businesses have boardrooms full of bored executives. You, however, have a heart bursting with excitement, and that can prevail if you let it shine through.
Be Quick On Your Feet
If you have ever worked in a corporate structure then you’ll know how much red tape there is. It is everywhere. That makes it hard for them to stay nimble and agile. That’s where you differ. You don’t have all that bureaucracy to navigate. So if you see a gap in the market, or a change in trends, or even a turn in the tides, then act fast and navigate your business to meet the new layout. It will take your bigger competitors far longer to do this and that gives you an edge.
Stop Thinking Small
Yes, you are small. That comes with the startup territory. But that doesn’t mean you have to think small. By not seeing the bigger picture you could be strangling your startup. Instead, you should make sure you are able to scale should that day come. This will let you stay sharp. Buy tech that allows you to grow, as well as the servers to accomplish this, have access to freelancers on tap, and the training program in place to get them to hit the ground running. You are small, yeah, but be prepared to grow at a moment’s notice.