Competition is often feared by smaller independent businesses.
If a competitor is growing rapidly it can be easy to lose heart and assume we can’t compete.
As a smaller business you won’t have the heavyweight punches of a bigger player but you do have many other advantages.
Your biggest – and most under-rated trump card is that you may be just nicer to deal with. Your customers enjoy the conversations with you, feel better after seeing you and are inspired by you. Even if you are selling a product. Don’t forget the “like” part of “know like and trust”. They may like you!
Relationships can be more personal and meaningful. So often we hear of sales people who take their customers with them when they move. The relationship has the potential to be as important as the product or service. You may not have the budget of a large company to schmooze or wine and dine, but spending quality time with a customer, and understanding their world pays dividends and makes your business life more fun.
You may also be easier to deal with. There is less red tape with a smaller business. A handshake means a handshake not 6 months with the lawyers. You won’t have corporate ways of dealing with issues because you don’t have to. Your customers are should be getting and valuing a more responsive service which is more accountable. The boss can sort things out.
Things get done faster. Results are easier to see. Response times are down. A smaller business can be a mover and shaker. You can move more quickly into new opportunities, spot changes in the market place, create new product and claim your authority in thought leadership. This is a huge plus for your clients, too.
If you are creating success the chances of competitors setting up against you increases. Take it as a compliment and value what is special about you and your business. Your prospects and clients value you.