Running your own small business means being an underdog, most of the time, but being small has its advantages, just look at Antman from the Avengers, he can crawl into spaces the bigger guys can not get to, wrecking all so awesome damage there.
Okay, maybe that isn’t an ideal analogy, but what I am saying is there are some great benefits to being tiny that provide small businesses with huge advantages compared to bigger businesses. These advantages can provide you with effective tools to compete against bigger rivals.
So here, just to remind you, are six great reasons why being a small business is an amazing thing.
1. Lower overhead
By being small, your business requires fewer resources to operate and maintain. Your lower overhead costs can allow you to offer a cheaper price, and even undercut a big competitor. You can outsell the big corporations by getting a higher percentage of business from within a very narrow niche. You can pinpoint your focus and do well on a smaller profit margin.
As a small business, it is easier for you to pivot in a new direction of what you started with isn’t working out as planned.
Not only this, small businesses are more flexible and less bound by policies and procedures.
This allows you provide concessions to complaining customers. Keeping your customers happy and satisfied.This adaptability fosters confidence and loyalty among customers.
Customers gravitate towards one-of-a-kind goods and services, the sort of product or service that is tailor-made just for you.
While big businesses offer a one-size-fits-all product, as a small business you can, you can thrive by producing exceptional and distinctive products and services.
Whatever it is you do, you can produce a product or service that is a perfect fit for both you and your customers.
4. Niche markets
As a small business, you are likely focused on a particular market where you are sure of your expertise. This gives you more than an edge over bigger businesses – people who need your services will know that you are the go-to person for this particular offering.
5. Faster response to customer needs
You most likely have a small customer base than bigger corporations, this can be used to your advantage. You can get feedback quickly and improve your services as appropriate.
Encourage your customers to provide this feedback in person or online, a VConnect dashboard, for example, lets customers tell you and others about their experience.
6. Personal Service
People want to feel special, and as a small business it is much easier for you to make them feel so
You can connect with your customers in a more meaningful way than bigger companies can.
Because your service is personal, what you offer will be far more closely aligned with the needs and aspirations of your customers than those of big businesses. While they are trying to appeal to a huge and diverse range of potential buyers, you can focus more on a small, well catered for market.
Do you ever feel like you had to choose between growing your business and holding on to your life savings? Well, that fear ends now. With VConnect for Business, you can connect ready-to-buy customers. VConnect doesn’t charge you to use its dashboard that tells you what people are visiting your business and what they are doing on your page. Start connecting with real customers. Claim your business on VConnect to get access.