Use your small business advantage whenever you can to get more sales. To do this, you must firstly observe your larger competitors and see what they can’t offer, that you as a small business can. As an example, consider the phone scripts for the following two businesses.
“Hi, this is Steve’s Computer Shop, this week we are having a special on notebook computers. How are you today?”
Did you notice a difference between the two quotes? The first is a large, multi-national firm with a particular script that must be followed for answering all phone calls. The second is a small business where the person answering the phone is free to customize whatever they would like to say. Perhaps the next person that calls will be greeted with information on Steve’s printer range!
Flexibility is a fundamental difference, and a definite small business advantage. Having the ability to pay particular attention to one segment of your business and change it as frequently as you see fit is a great strength. If notebooks are not selling well, pull them off and answer the phone with a different product. In a large business, it can take weeks if not months of meetings, documentation and other time wasting activities before the script to answer the phones can be changed.
The beauty of being able to change frequently is that you can also provide excellent, personalized service – another small business advantage. Steve’s computer shop knows exactly what Mr. Jones needs in his computers because he has been in the store a few times. On the other hand, all Mell Computers knows about Mr. Jones is that his account number is 123456 and his street address for security purposes is 1 Main Street. The ability to pay special attention to individual customer needs helps to spread the good word about your business quickly.
Being small also affords you the opportunity to react quickly to the market. You can try different things without drastic impact and implement them fast instead of waiting forever as you would in a large business.
These are just some of the ways you can capitalist on your small business advantage. Those who pay attention to their customers, observe their competitors, constantly modify their offerings, learn from mistakes and aggressively seek to maximize their small business advantage are the ones who can grow quickly and be successful.