When you’re running a small business, competing against larger companies can seem daunting. Here are a few tips to help you maximize and leverage your company’s unique value:
Be Nimble: Big companies enjoy advantages associated with scale and size. Avoid competing in these areas. Instead, hone in on your advantages, such as agility in making changes and adapting to trends.
Build Your Niche: Identify areas of weakness of your big competitor where you have a competitive edge. Grow your niche by building upon the factors that differentiate your company, whether it is better quality, speed, or service.
Partner Up: Partner up with other small businesses that provide related services so that you can offer customers full turnkey solutions and expand your markets. You can also partner with a larger company or become a subcontractor so that both companies can maximise success.