In the business world, it’s very easy to think in terms of ‘tiers,’ or ‘business size and marketing share.’ Of course, we do that because this information is relevant. Small firms may be competing for a smaller piece of the pie, but they do so in their local environments. These small organizations often fulfill a unique need that can be applied more directly than larger firms providing a more comprehensively wide approach.
For instance, it’s easy to think of a large accountancy firm taking on multiple clients from all sides of the business sectors, as opposed to a smaller firm with two employees, perhaps caring mostly for helping farmers manage their accounts and keep their business on track.
But is it possible for small firms to compete with ‘the big dogs,’ as it were? We believe that while managing your business success based on the growth of larger entities is a mistake there are some measures you can use to level the playing field a little, especially when it comes to how you market your business and structure the quality of its output.
With that in mind, let’s discuss this topic below:
The ability to promote yourself online has never been this accessible, and for this reason, it’s important for small brands to do it. The truth is, however, that even small firms can use the value of hashtagging, social media spreading, and targeted advertisements to run alongside the big firms. After all, this isn’t as expensive as having to book a timeslot in your local cinema, purchasing a large billboard, or even commissioning a jingle for the radio. It’s important to think about what role this might serve in your own business.
Industry equipment is important to consider. If you can invest in the tools that larger firms use to produce at scale, with exacting professional standards, then you’re playing on a level playing field. This is true in creative industries that work on a commission basis. For instance, think of how a merchandising firm would benefit from industrial and commercial embroidery machines installed in their workshop. The right investments can help you gain the quality assurance you need in order to turn heads, and stand out in your field, even if that helps you perfect your home-spun technique.
There’s no reason why a small firm can’t exactly match the values and principles of a larger firm. In fact, those are often what helps a firm grow and develop with care, because when you have your priorities adjusted, your orientation is much easier to find. This might involve absolutely ensuring you work with fair employment practices as a basic standard, but also protecting staff when they report harassment, ensuring your team is diverse organically by removing names or identifying information from resumes you review for the first time. This way, you can ensure your company culture is to be envied, something that many larger corporations may not have the flexibility to achieve so deftly.
With this advice, we hope you can see how small firms continue to compete with the ‘big dogs.’ Perhaps one day you’ll be there, too. Keep in mind, it is a journey not a race.