However, you do have competitive advantages over large companies, especially in your home town.
The past few years have seen an opportunistic and favorable business environment and it looks like thankfully it is poised to continue.
Technology Tools In no other time has technology made it easier for us to do business, communicate and grow on such an efficient and far reaching scale.
The Web, email marketing, social media, plug-ins and apps allow us to organize and focus communication. The cloud offers front end management of taskswhile many small service companies still juggle paper spreadsheets and calendars to stay organized.
POS systems let small retailers accept more than cash with a swipe. A repeat customer has a higher lifetime value than a new customer so it pays to invest in customer loyalty programs. By adding a simple plug-in app, small businesses can turn their basic Gmail service into something even more powerful.
Rates are low and banks are also feeling the economic recovery. We really want to lend. Small business owners can shop around and work with banks to find the best rates.
People are finally feeling optimistic enough to invest more in themselves, their businesses and others. Exceptional Current Resources and Help Why do some small business owners think waiting to start or improve will help?
If you have done your due diligence, research and homework then now is your best time. The resources, tools, and help are plentiful. Just search Google or Bing for anything and you will find information.
A word of caution: The Personal Satisfaction If you really want to do your own thing, be your own boss and lead your own charge, then by all means do it. The personal satisfaction that comes from succeeding as your own boss is priceless and worth working for.
Flexibility with Changing Conditions Small business operators have way more flexibility to make swift, immediate and necessary changes that are essential to dealing with shifting conditions. The ability to respond quickly to market changes is a big asset you have and can use to stay ahead.
Personalized Customer Service Most successful small businesses take the opportunity to deliver personalized, unexpected and exceptional customer service very seriously. Developing long term, ongoing relationships is one of the benefits that can keep customers coming back perhaps through more than one generation.
There is something very comforting and trust building about serving mothers, fathers, sisters and brothers of the same family.
Small businesses can make these kinds of business relationships happen. There are so many viable business ideas and categories if you are ready to take the plunge.
As entrepreneur and Forbes contributor Kevin Harrington explains:There is a particular movement throughout the chapters of this book which take you on a journey through the process of advantages versus disadvantages, split into three segments: Identifying vantage points, identifying advantages in apparent disadvantages, and the exchanges of power (as they relate to advantages and disadvantages).
Dec 05, · This article was originally published on the [email protected] website on December 3, In his new bestseller, David and Goliath: Underdogs, Misfits, and the Art of .
4 Comparing the Advantages & Disadvantages of Buying From other key advantages of owning a large business. Small-business owners can study the benefits of larger firms to determine the optimal.
Lease or Buy a Car? - Calculator Conventional wisdom says if you lease you'll have nothing to show for your money when the term is up. But that ignores the opportunity cost.