A small business may feel at a distinct disadvantage when comparing themselves to a big business. They may feel that the big business has all the glitz and the glamour, all the money, machinery and motivation at its feet.
Nothing could be further than the truth. Small is personal, small is on the ball and small is hands on. Small can be super successful.
How to get a leg up over big business.
A small company means one-on-one. The customer is going to liaise with the manager or the owner of the business directly. Good customer relationships are easy to develop and bonds are quickly formed between owner and the customer. Everything is personal.
Relationships are formed between the owner and staff members too. The business becomes like a family, which means that there is trust, closeness and good communication.
In a small business you know everybody’s names. People like to be greeted, personally.
A small business is easy to control. It is easy to keep track of overheads and expenses and to know what is coming in and what is going out. Expenses are lower, rentals are lower and salaries are lower too. It is easy to see when there is waste expenditure and to change that. Small means manageable; it means easy to control.
Offer better service
A small company means that the owner is hands on. When a company is small there are fewer departments and much less bureaucracy. Being hands on means direct communication with the customer. If the customer is happy, the owner will know. If the customer has a complaint the owner will know too and deal with it quickly. In a small business, staff will always be quick to take action.
A small business works as a unit. Everybody wants it to succeed. It is much easier to incentivise and motivate staff when they have a personal attachment. Often in big companies staff are not aware of the business plan or the business statement of the company or of the desired results. Staff do a job and they leave for home at 5 pm. When something is small, everyone has a stake in it; they want to do well. Small means staff are a lot more inspired. It is easier to incentivise them too.
A small business has a plan and the staff know the plan. If that plan is not working, it is quite easy to change it. By keeping good track of customer satisfaction and profit, one can see what is or is not working. In a small business it is easy to adapt quickly and to change direction if necessary.
Keeping things small does not mean keeping things simple. You can be small and still use the highest tech and have the best systems in place. Being small often means being creative and trying out different and new systems and ideas.
Small is successful.