Last Updated on Mar 27, 2020 by James W
If you’re running a small business, it can be tough to keep up with the big guys. Large corporations have huge marketing budgets, and offices full of staff. How can a small startup compete? Well, the first thing to change is your mind-set. A small company can compete with the big guys, if you know how.
Always remember that the biggest companies on the planet all started out in the same way. Just like your business, they started small, and found a way to compete against the biggest. Just look at Amazon, who found a way to compete and then terrify the established retailers. Competing with the giants is possible, and we’ll show you how.
Mimic them professionally
Big, corporate companies have the luxury of an established name. They have office buildings, and a professionalism that comes with association. As a small business, you don’t have that luxury. Luckily, you can learn to mimic it! If no-one’s heard of your business, you’ve got to make them think you’re bigger than you are. Make it seem like they’ve missed out on your rapid rise to success. Something as simple as a registered business address and landline will do the trick. These companies use mail scanning to forward your mail, and set up a legitimate business address. It’s a simple trick that always works!
Adapt faster than them
Your upper hand lies with your ability to adapt and change quickly. Consumer trends and habits change faster than the blink of an eye. The large giants have a slow turning circle when it comes to moving with them. On the other hand, you can quickly make changes, and capitalise on those consumer trends. Make your company more efficient, look at the market, and learn to jump on trends quickly.
Do something they don’t
We are literally stating the obvious here. But, if you want to compete with them, don’t just copy them. Find that one small thing that makes you different. What’s the one thing you can do that they can’t? Where’s the gap in their product or marketing? What are they missing? Find it, and exploit that gap. Make it your unique selling point, and carve out that niche for yourself.
Set your prices in line
We often see smaller companies pricing themselves too low in the market. They think that their size dictates their value, which isn’t true. If you want to compete at the biggest levels, you need to set your prices in line with the market value. It might seem counter-intuitive. But, if you want people to see you as a competitor, your prices should reflect that.
Think about the little things
Another problem that giant companies have is customer relationships. They are simply too large to build intimate, personal relationships. As a small startup, you can take advantage by focusing on the little details. Put a thank you note in every package you send. Reply to every customer complaint directly. These are things that big companies simply can’t do.
Always set your goals high, and look to the biggest companies. One day, you’ll be one of them!
