Small businesses are the backbone of the economy. They not only account for a large proportion of our country’s production and service sector, but they also are a major part of job growth. Across the US, small companies in a variety of niche sectors are hiring talented employees so that they can compete in competitive markets.
Even though small company owners make a big difference, they also have a very difficult time getting a ‘piece of the pie.’ Whereas large companies already have their foot in the door in many cases, the smaller guys need to make a name for themselves in order to start selling. Here are some tips and tricks in different departments for small businesses to gain an edge against bigger corporations:
1. Marketing – Being a small business in the marketing world is like being the person in the room with softest voice. All of the big companies are screaming about products and services by spending tons of marketing dollars across a variety of mediums. So how does a small company, who doesn’t necessarily have a huge marketing budget, get their name out there? One great way is through social networks and services like Twitter and Facebook. Using these free technologies, a small business can build a grassroots fan base that is local, relevant, and scalable.
2. Products & Services – How can a smaller company possibly outperform a big company when it comes to sheer production or service volume? Obviously quantity should be thrown out the door in favor of quality and niche market adaptation. Whereas big corporations move extremely slow in regards to fluctuations in market demand due to their organization hierarchy, small companies can easily adapt to the smallest changes. Using this advantage in speed and adaptability, a small business can outperform a big biz and gain traction in viable niche sectors.
3. Hiring – Big companies have a huge advantage in the hiring game by offering more competitive salaries and perks. Using these benefits they can often attract the best job applicants available, while leaving nothing for the smaller competitors. Luckily, technology once again can even the playing field for smaller companies. Cutting edge applicant tracking software allows any company (small or large) to find and attract top-level talent by utilizing the internet. Using these hiring tools, a small biz can land the quality hires that have the potential to lead a company into the big leagues.