How to Compete with the Big Guns?!

Many small business startups fail within the first 2 years of existence. There are several different factors reason for the failure. One reason many entrepreneurs often under estimate the need to find a niche market and to serve it well. Instead of finding the niche market they attack the big guys head on. If you have enough money to throw at 'this problem' you might succeed, but in reality almost every small business doing this will fail and eventually shutdown operations.

So, what should small business startups do to avoid this big mistake? How can they survive and grow and become successful?

As mentioned before - finding a niche market is the first big key to not be destroyed head-on buy the big guns. Never, ever try to be the "Wal-Mart" for everyone. Not everyone is your target group. Carve out a niche market, then slowly steal away market share from the market players. Eventually pick a niche that you know of where the market leader is not spending enough attention on. Grow here and grab market share. Eventually you will grow big enough without being noticed to become the market leader for this niche. Companies like Microsoft and Wal-Mart tend be slow moving but they have enough cash to catch up quick. We have seen situations where the small business owner was able to cash out big time from a situation where he/she was able to grab enough market share to be considered 'armed and dangerous' for the big guns.

Compete on things where large market players fall short. Compete on experience and value added services - not price. You will not be able to compete on price with somebody like Wal-Mart or Target. Their buying power is just too big for you to swallow. Let your experience disappear differences in price for a product. Give the customer the feeling that you know what you are talking about and that this experience is worth spending a little extra.

Emotions can be a big advantage for the small business startup. Bond with the clients and vendors. A personal (business) relationship that makes everyone feel good will get you repeat business and fair deals from vendors (friends don't steal from friends). If the vendor can make his share of revenue and you can get your share of the pot - everyone will be happy. Nobody likes to be squeezed by the big sales department of the market leader.

The work place. Be hands-on. Be the boss, but at the same time be the employee who does actual work. Don't get disconnected from your own business now that 'you are a the boss'. Stay involved as long as you can. Work harder than your employees. Be emotional and inspire your employees with your dedication. The spark will eventually jump over and the productivity increase can be enormous. Make your work place 'cool'. Create an environment people want to work at. If employees wake up in the morning and really like to come to work because they enjoy what they do, you will definitely benefit from it. And keep in mind - you need all the help you can get when competing with the market leader. Be the employer of choice.

Be the star in your community. The place where you start your business can be the founding place of the next 'business empire'. People are proud if one of them makes it to the top. Remember Johnny Carson? He gave back to the community where he had grown up. Nobody outside of that local area really knew about it or had paid attention but the locals - they admired Johnny Carson and were thankful supporters. Keep this in mind when building a business. You might become as big as other market players, but doing good is not a matter of how many millions you have. On the other side - you do not want to build a business just to make $30K per year. Your goals should go much further out and higher. Try to be the best in your field. The sky is the limit.

Use technology. Technology can be your friend. Small businesses can respond much faster to market trends than the big guns. Be innovative. While you're the small guy you can use this to your advantage. Being small is no excuse when it comes to using sophisticated technology. See the advantages of what technology can do and put away with the whining about the next upgrade coming soon. As long as you calculate it properly and make your case, you can most likely provide a quick ROI (return on investment).

Of course there are many more things that come into play in regards to business success. The steps outlined in this article however will give you a good head start when working on strategic placement of where and how your business should start. Good Luck.

About The Author

Christoph Puetz is a successful Entrepreneur and international book author. Websites currently operated by Christoph are Credit Repair Help and Highlands Ranch, Colorado. PPC and SEO Services provided by the author can be found at Net Services USA LLC.

Note: This article can be published by anyone as long as the resource box (About the Author) is posted on the website including the links and that these links must be clickable. This last paragraph in italic font informing about the author resource box does not need to be published.

---

Data Loss - Can Your Company Survive? (Most Do Not)

Data. Most people think it is a term relegated to... Read More

Is Your Small Business Name Important?

You bet a name is important. Many small business owners... Read More

How To Write A Business Plan

Writing a business plan is a fundamental step to ensuring... Read More

Small Business Spoiler - Procrastination

One of the most common issues that comes up for... Read More

If You Want Business - Be Consistent

Why does consistency in the message have an effect on... Read More

From Birth to Death

Your product is dying. With the same inevitability that we... Read More

Web Based CRM Systems: Get Mobile; Get Results

Everyday more web based companies enter the business scene. The... Read More

Small Business Strategies - Four Critical Success Factors

Scenario OneDuring a recent presentation, a business owner was given... Read More

Franchising in The Middle East There Will Bring Significant Opportunity for US Based Franchisors

As stability emerges in the Middle East there will be... Read More

Leverage The Power of Publicity For Your Small Business

Your business is only as good as the number of... Read More

The Truth About Government Grants for Your Business

Free money! Receive up to $25,000 that never has to... Read More

Canon City, Colorado - Good for Small Business

Canon City, Colorado is known for it's 6 Prisons; State... Read More

The Skills Gap: It Pays to Use Experts

By outsourcing to skilled professionals you'll be able to grow... Read More

Motorizing for Profit - The Craftsmen Have Left the Building

In the summer, I can't drive two blocks without seeing... Read More

Setting Up as an Electronic Repair Authorized Service Center

If you plan to upgrade your workshop into an Authorized... Read More

11 Benefits of Starting a House Cleaning Business

One of the biggest fears people have about starting a... Read More

6 Steps to a Successful Medical Spa Expansion

According to the American Society for Aesthetic Plastic Surgery, since... Read More

The Misconceptions of the Value Of Disclosures in Franchising

Disclosure laws in franchising are suppose to help the consumer.... Read More

Challenging the Gospel of Growth -- Must Business Grow to Survive?

A cherished business doctrine is that growth must be a... Read More

Franchise Companies Come and Go

Each day we hear of companies entering the franchising industry.... Read More

How to Find A Group that Needs Speakers

How do you find groups that are in need of... Read More

Be Prepared When Business Investors Look Beyond Your Business Plan

You have spent considerable time pulling your business plan together,... Read More

Franchises: How to Find the Best Franchise Opportunity for You

If you are looking for a franchise opportunity, the choice... Read More

Is Your Success Predetermined?

Your on-line success is based on your efforts and yours... Read More

Professional Car Care Businesses You Can Start

If you are in the professional car care business you... Read More

How to Become Successful in the Field of Financial Consultants

Financial Consultants are one of the fastest growing industries today.... Read More

Getting City Contracts; Local Government Contracting

All cities have a purchasing office and/or a procurement officer.... Read More

Small Business Marketing - How Important Are Your First Words?

"What do you do?" It just might be one of... Read More

Five Quick Ways to Speed Up Cash Flow

At one point or another, almost every business runs short... Read More

How to Profile a Client

At first glance, this topic may seem a little repetitive,... Read More

Environmental Pressure Washing in Pennsylvania

If you run a mobile car wash, mobile fleet washing... Read More

Excuses Franchisees Make; When They Violate Exclusive Territory Agreements

One of the biggest excuses franchisees of home based and... Read More

Small Business Credit Card Advantages

Obtaining a business credit card enables the small business owner... Read More