I was speaking with a longtime friend of mine about his challenge of being a small fish, in a big pond.
To put this in context, he has a small business and must compete with larger companies and bigger pocketbooks, everyday. He asked me for some ideas and strategies to help them survive.
I told him that by planning ahead, strategizing and remaining flexible, he could hold his own. The key is to find his competitors weaknesses and attack them.
I told him the one thing that a small business can do better than a large corporation, is provide a better customer service experience. Large companies and organizations can't respond as quickly and agile as a small business. It's important to know and understand your customers names, business, tastes and preferences.
Small businesses have the freedom to be nimble when necessary and take risks at will. Large companies and organizations take much longer to make changes, and the risks are much bigger.
I told him to ask his customers what they want and need. Then, ask potential customers what the competition is not providing & provide it.
There are so many things that can differentiate a small business owner from the competition; but, I'll leave that up for a later discussion.
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