By focusing on customers and suppliers, applying advanced technology, or reducing intermediaries, you can absolutely compete with large companies.
Do you dream of starting a business but fear your young company will be crushed by the “giants”? In reality, these worries are unfounded. With a fresh idea, good execution, and a strong position, you can compete at every level, even head-to-head with large companies. On professional network LinkedIn, Brandon Uttley, former founder and CEO of marketing firm Command Partners, suggested measures you can take to remain firmly established in the market.
1. Respect Customers
It is hard to believe that some major companies today disappoint customers in how they treat them. Showing customers complete respect can therefore make a significant difference to your business.
2. Take attentive care of new customers
Many new businesses do an excellent job of making customers feel specially cared for. Stacey Randall, founder of Randall Research, places great importance on this. “We always strive to make a good first impression and maintain it throughout our working relationship. If you truly satisfy customers, they will refer you to other potential clients. Always remember that your task is to care for customers and help them succeed.”
3. Respond promptly to customer requests
While your company is still small, you have the opportunity to respond quickly to customer feedback. When I co-founded a web design company in 1999, we used a telephone customer service system 10 times more effective than those at billion-dollar companies I had worked for. Incoming calls were automatically forwarded to our mobile phones at any time, and customers were always surprised to receive immediate service from a real employee rather than an automated answering system.
4. Be more flexible
Removing some of the cumbersome procedures common in large companies will make customers happier.
5. Work smart
Diligence and hard work do not necessarily bring success. It is therefore better to keep researching the smartest way to work.
6. Do not repeat too many tasks over and over
Doing the same task 2, 3 or 4 times only wastes time and reduces productivity. Ask yourself whether browsing the web or checking email every 10 minutes contributes anything to business results.
7. Reduce intermediary stages
Clearly, the larger a business becomes, the harder this gets. Yet it is not impossible if you truly care about customers. Do not hesitate to remove the barriers separating you from your customers.
8. Apply technology
From project-management and customer-care systems to appointment-scheduling apps and expense-processing software, small businesses have countless technological options to improve productivity. Some are even better than the billion-dollar systems used by large enterprises. These programs help reduce spending on IT staff.
9. Care about the company's image
Many companies have existed for decades yet have terrible websites, with sloppily dressed employees serving customers in shabby surroundings. Never underestimate the outward impression you make on customers.
10. Be Proactive
Reach out to customers regularly, not just when you are selling. Today’s technology makes this entirely possible at a fairly affordable cost. Be the first person customers think of whenever they have a need.
11. Deliver more value
Always look for ways to make customers happier after buying your product or service. Amazon, for example, used to include bookmarks in packages. However, it no longer does so today.
12. Creativity
Forget rigid, formulaic approaches. Be as creative as possible to achieve strong results while saving costs. For example, Facebook advertising is both effective and less expensive than printing traditional signs or flyers.
13. Do not overlook social media
Find your target customers and master the channels for communicating with them. Do not rely only on traditional tools; turn to social media, blogs or forums. This will greatly help promote your business’s image.
14. Make use of PR
Public relations, PR, remains an effective, inexpensive way to convey your message. Appearing in newspaper news coverage increases credibility significantly compared with paying for other expensive advertising tactics.
15. Pay suppliers promptly
This can become a major advantage for small companies. Many large businesses do not pay suppliers on time. If you do this well, within 30 days, you will be surprised by the favorable terms they offer. Remember to show cooperation and appreciation toward suppliers; they will speak well of you to others.
Hà Tường/VnExpress
