How Small Businesses Can Beat Big Businesses
Summary
- As beginners, we often feel at a disadvantage, but there are unique strengths in being small.
- Large businesses have their challenges; they often lose sight of what made them successful initially.
- Business growth is cyclical, with new players rising and old ones sometimes losing their way.
- One advantage of being a beginner is the ability to offer personalized attention.
- You can tell potential clients that they are not just a number to you, unlike established competitors.
- Offer clients your personal contact and ensure them amazing results, even working for free initially to decrease their risk.
- Emphasize your commitment, stating that you will work as hard as possible because your success depends on their success.
- Highlight your readiness to address any problems personally and immediately.
- Without the burden of large management structures, beginners can operate more efficiently.
- All earnings go directly into your pocket, allowing for better margins and a more efficient business model.
Video
How To Take Action
I would suggest implementing personalized attention as a primary strategy. When you're small or just starting, you can offer your clients a level of service and commitment that big players can't. Tell your potential clients they're not just a number to you. Give them your personal contact information and assure them they can reach you directly with any concerns. This can build trust and show your dedication.
A good way of doing this is to consider working for free initially. This can decrease their perceived risk. You could say something like, "I want to make sure you get amazing results, so I'm willing to work for free until you see the value I provide." This shows you are confident and willing to put their success first.
Emphasize your commitment by letting them know you will work as hard as possible for them. Say, "Your success is my success. If you don’t win, I won’t win." This indicates that you are fully invested in their outcomes. Let them know that if there's ever a problem, you’ll be there to fix it immediately.
Without the complex management layers, you can be more nimble and efficient. All the earnings go directly to you, allowing better margins and a more straightforward business model. Highlight this efficiency to your clients, explaining that the streamlined approach means they get more value for what they pay.
Implement these strategies to leverage the unique strengths of being small, making your business attractive to clients who value personalized attention and commitment.
Full Transcript
every beginner thinks that they have a disadvantage but there's a cycle in businesses like there's only one business in the S&P 500 that has been here 100 years as much as we like to think of these Behemoth as these big things is like there's disadvantages to being large that's why there's this constant cycle of new up andc comers who swell and get bigger and bigger and then they forget what made them good and then they they go it's a cycle more than is linear and so when you are a beginner you have the advantage of no scale which makes it really compelling and saying I will give you personalized attention like if you're competing against an established person you say hey you're just a number to them you're personal to me I'll give you my sell I want to get amazing results for people I would like to do it for free you're still going to obviously incur the risk of me not knowing what I'm doing but I'm trying to decrease the risk as much as I can and I promise you that I'm going to work as hard as humanly possible because I have no other client I'm just so invested in making this win because if you don't win I'll never win and if there's ever a problem I'll be there and you can obviously run better margins than they can because you don't have all the layers of management in between and so everything that you charge goes straight into your pocket so you run the most efficient business model ever