Increased globalization and mind numbing competition have suddenly made small business opportunities much more attractive. With many large organizations being unable to quickly restructure in our changing market, a growing number of small businesses with their inherent flexibility and capacity to adapt are acquiring a sizeable slice of the market share.
Copyright (c) 2009 Alan Gillies
The escalation of globalization and the intense competition have suddenly made small business possibilities much more desirable. With quite a few large organizations being unable to rapidly restructure in our evolving market, a higher percentage of small businesses with their inherent flexibility and capacity to change are taking hold of a sizeable slice of the market share.
The methods of small business expansion are very different from their large organization counterparts. Major companies have the financial capital to quickly expand, improving their current facilities, buying new facilities, and widely circulating all of their products. On the other hand, small businesses rarely have any of these options, therefore they need to search for other possibilities which are cost effective yet still ensure an increase in revenue. Small businesses can ensure their success - and their future, by continuously strengthening their relationship with their customers. Although this process is a gradual one, with time it will ensure long term relationships, profitable for the small business while useful and fulfilling for the customers - thereby distributing benefits to all.
- When you make promises, always keep them - Businesses which haven't yet made their mark in their industry can't afford to make suppliers wait for the money nor can they make customers wait for the products. The key is to not allow such situations to occur and affect your business, therefore "Make Promises and Keep Them". This will build trust among partners and customers, ensuring long term relationships with everyone involved.
- Prudent use of money - Instead of spending money on costly PR endeavours or other image building advertising, spend it on cost effective projects like direct response marketing. With this system you can clearly see the relationship between the expenses and the benefits that have been achieved.
- Define the ground you wish to build on, e.g. service, quality or price - Don't attempt to apply an approach used by larger businesses, choose your own way and specialize - without compromise. This will make all the difference in keeping your small business on track and focused toward its objectives.
- Hard work has always been required, but if you're really searching for a proven way to get ahead, "work smarter, not harder".
- Try to get more business cards than you give - Attend seminars and conferences to keep yourself updated with the latest trends in your industry. Be enthusiastic about your work and be positive in your communication - this will result in very valuable referrals.
- Only accept deals which you can fulfill to the highest standard, on time and at your agreed cost - Small businesses should avoid risky contracts for big payouts. If the final product doesn't meet the required standards, it can be a disaster for the parties involved, causing havoc with your organizations image.
How to Market Your Small Business
Marketing is an essential aim of any organization. It keeps the balance sheets alive by bringing revenues into a business. The applications needed for the successful marketing of the organization are affected by the scale of the operation of at hand.
Inspiring Innovation in the Work Place.
Consider this... What if instead of the compact and featherweight mobile phone that you use today, you had to carry around one of those huge phones prevalent in the early 1990's? You can heave a sigh of relief that it was just a thought; courtesy of the innovators who spent many years of their lives, designing this 'mini-world' for all of us, just the way it is now.
Adequate Training Can Revolutionise Your Business Today
What is the most important resource for the success of any organization? The unanimous answer, without question, is human resources. And when we say human resources, we mean highly skilled, knowledgeable and efficient human resources. The overall quality of the individuals in the company can either drive it to the highest peaks in the mountains of success, or let it fall into the deepest canyons of failure.
