How Small Businesses Can Beat Big Businesses

Summary

• Every beginner thinks they have a disadvantage, but there are benefits to being small.
• Big companies often become complacent and forget what made them successful.
• In business, there's a cycle where new companies rise, become big, and then may fail.
• As a beginner, you can offer personalized attention because you have no scale.
• You can compete by highlighting that you will provide personal care and attention.
• Tell clients they are just a number to big companies, but personal to you.
• Offer your personal cell number to show dedication and build trust.
• Explain that you want to get amazing results and might even do it for free at first to build experience.
• Mention the risk of inexperience but reassure clients with your dedication to work hard.
• Highlight that you're fully invested in their success because their win is your win.
• If there’s a problem, you will be there right away, unlike bigger firms.
• You can run better margins because you don’t have multiple layers of management.
• Everything you charge can go straight into your pocket, making your business model super efficient.

Video

How To Take Action

Action Plan for Small Businesses and Entrepreneurs

1. Embrace Your Beginner Status

I would suggest embracing the fact that you are small. Big companies often forget what made them successful. Use your size as an advantage.

2. Offer Personalized Attention

A good way of doing this is to highlight to your clients that they are personal to you. Big firms treat clients like numbers, but you can provide personal care. Give your clients your personal cell number to show dedication and build trust.

3. Build Experience with Free Services

Tell your clients that you want amazing results. Be upfront about your inexperience and offer to work for free initially. This reduces their risk and gives you a chance to build experience and prove your dedication.

4. Be Fully Invested in Their Success

When clients see how invested you are in their success, they understand that their win is your win. Make it clear that you’ll go above and beyond to solve any problem right away, unlike bigger firms.

5. Run Efficient Margins

You don’t have multiple layers of management. Everything you charge goes straight into your pocket, making your business super efficient. Use this to offer competitive pricing while maintaining high profitability.

Steps for Personal Growth

1. Realize Your Unique Position

Being a beginner isn't a disadvantage. It's an opportunity to learn and grow in a way that big players can't because they’ve become complacent.

2. Leverage the Cycle

Understand that business has a cycle. Newcomers rise while established businesses might fall. Use this to stay motivated and innovate constantly.

3. Focus on Hard Work and Learning

Commit to working as hard as humanly possible. Absorb all the knowledge and experience you can from each client interaction.

By implementing these strategies, you can leverage your beginner status, provide exceptional service, and run a lean, efficient business. Start small, focus on personal attention, and build from there.