Keeping up with large competitors can be difficult for small businesses. However, it’s not impossible to play in the same league as your biggest competitor. In fact, small businesses have a lot of advantages that often go unrecognized, especially by the very people who run them. Here are a few tips when it comes to playing in the big leagues, even if you have a small team:
Keep Client Relationships Your Top Priority
It’s easy for small businesses to gain a reputation quickly. The biggest element in gaining a solid reputation is to keep your clients loyal and satisfied with your work. This means keeping your client happy throughout the entire working relationship, from gaining their business and planning their project to presenting the final product. If a mistake or error arises, stay on top of things and fix it quickly while communicating the plan with your client. Negative feedback catches on quickly and is almost impossible to correct.
Engage With Your Industry
Yes, we’re talking about networking. It’s a dreaded word for many in the small business world, but if done correctly, it can help you gain the right attention at the right time. Try to find a networking group that meets your needs and fosters strong professional relationships—this means you’ll practice both giving and receiving work and recommendations. Social media platforms are always a useful approach to keeping in touch with industry professionals and perspective clients. Keep on top of your posts, respond to comments and questions, and try to engage with other small businesses—good entrepreneurs stick together.
Honesty Really is the Best Policy
It’s tempting to say you do it all, but that isn’t what cultivates good business practices. Be honest about your offerings, and be clear about your niche—it’s what people will remember about your small business. You don’t have to do it all; you have to do one thing exceptionally well. As it goes both in business and in life—lies are easy to spot.
Be a Role Model
People want to feel good about the businesses that represent their image. Once the word gets out about employee misconduct, race discrimination, or gender bias, your business has a name for itself—and not one to be proud of, either. Businesses that give back to their communities and to the world are more likely to be trusted.
Take Feedback Seriously
Avoid the temptation to put your customer satisfaction surveys in the bottom of your file cabinet. Read them, organize them, and address the most common concerns or complaints. As painful as it might be to hear negative feedback about your work, your business will become stronger because of it.
We know how challenging it can be to make a name for your small business. In fact, Quadrivium- Advisors is a small business. If you’re ready to stand out, we can help you get there.