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How a small business can compete
Starting Your Small Business
Where do you find more customers?
How do you compete with bigger businesses?
Answer. Build loyalty and rewards.
You may not have the money to spend on advertising like your competitors do but you don't need it. What you need is added exposure, added exposure that costs little or none.
One of the best ways is referrals. Getting referrals from your customers reinforces new customers that they should choose you because they can trust you and they will be satisfied. A good way to track your referrals is to build a list and rank it. You can develop a database of your most loyal customers and the products they buy. How many are repeat customers? How many times per month/year are they repeat customers. Assemble this information and rank it to ensure you are spending your time wisely with your best customers.
Join local events. Get involved in your community. Being involved in one event may spell the difference between increased cash flow or stagnation.
You must remember that you are one of many businesses that the customer can chose. You must give them an incentive. Once you give them an incentive, reward them and reinforce that they have made the right decision. Actively pursing them to give you leads of other people with the same problem or people that may be in their industry and simply contacting them will be a great start! Until next month.
Mr. Des Marais has operated small businesses for over 20 years. He has been a consultant and held positions in some of the fastest growing companies in Canada. He has held past management positions in retail, tourism, hospitality and sales for a variety of companies. He has increased sales by 200% in 2 months for an herbal doctor; increased sales by 30% in 4 months for a major Canadian Big Box Retailer and helped several entrepreneurs develop and sell their business. His expertise is in the area of growth and business development. He has also been involved in developing business chapters in cities across Western Canada. In terms of charities he has been involved with several groups including Habitat for Humanity, United Way and local city soup kitchens. In terms of Business Development and mentoring Mr. Des Marais has volunteered with S.E.E.D.S mentorship review committee, ACE, YEA and university alumni and speaking events. He has given presentations at the University of Victoria and Simon Fraser University.
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My Small Biz: Science and art make a candle masterpiece - Press of Atlantic City
Small Business Payroll Software for W2 and 1099 Emplooyees Released by PayrollMate.Com
How to Profit from a Concrete Roof Tile Business
Concrete Roof Tile Business: During the 2004 summer season, storms plagued the United States. Damages from the Hurricanes in Florida alone sent resources in the southern states scrambling.
Consistency Builds Trust
You know your prospects need what you sell. You know they want what you sell.
How the Humble Ice Cube Made Business History
Gather round while I tell you the story of Kennebec Ice. It's a story full of valuable business lessons even though it happened long ago.
Local Government Relations for Small Business
Most small businesses simply go about their daily business and serving customers without ever worrying about local government relations. For some it turns out okay but for others it can become a disaster.
Keep TRACK of your Business Relationships and Gain Profits
How do you know when an alliance needs to be monitored and tracked?More often than not, an alliance needs to be monitored and tracked. If you ignore your alliance partner at all, you will be losing ground and your business relationship will not be what you expect.
Auto Detailers and Competitive Aspects of Automobile Detailing
There are both fixed and mobile detailers. Consumers often will use either or both during the life of their car.
Small Business Marketing Series - Choosing a Niche Market
Many smaller businesses choose niche markets for various reasons and these niche markets can be very lucrative. This article will look at ways to identify and assess whether they are right for your business?For many smaller businesses it is important to have a focused strategy which enables them to operate in a small part of a chosen market with great success.
Increase the Wealth in Your Community
Many of us have noticed how some nearby communities seem to be "wealthier" than other nearby communities. They seem to have more shopping markets, more restaurants, more choices; items often cost more in these communities than they do in surrounding areas, yet the affluence remains where the prices are high; people are drawn to these communities, bringing even more resources and more wealth.
Should I Franchise or Not?
A reader of one of my online sessions asked should he franchise his business or not. He had set up a service business and was getting ready to expand and wanted to know if franchising was a good potential strategy for this.
Dont Let Your Small Business Fall in the FDCPA Trap
When someone owes your small business money, you certainly feel like a victim. But did you know that if you aren't careful, you could break the law by trying to get the money back?How to Break a Federal Debt Collection LawYou have a small business, and your bills are coming due soon.
Mobile Truck Washing, Case Study
Most folks in the pressure washing business are happier to do business cleaning concrete or flat work, because it appears to be easy. Some do both fleet truck washing and concrete, which makes sense.
Recognizing Employees' Contributions Can Go a Long Way
Every employee would like to earn as high a salary as they can at their job but surprisingly it's not the number one motivating factor for them in the workplace. Human resource surveys indicate that wages are not even among the top five motivating factors for an employee.
Cost Effective Franchise Regulations, Come again
The Franchise Group at the Federal Trade Commission in all their ego and glory has proclaimed that franchise disclosure laws are "Cost Effective." I hate to break it to the FTC, but your comments and court are completely naked.
The Business Failed, But Did You?
Q: After years of dreaming about starting my own business, I finally took the plunge a little over a year ago. To say the least, my dream quickly became a nightmare.
20 Great Ways to Market Your Business Locally
Whether your target audience is in your neighborhood or across the world, you can use your local resources to get the word out about your business. Your local community is easily accessible and provides dozens of opportunities for building a buzz about your product or service.
Franchising Industry Burdened in Over Regulation
There were only an estimated 1800 active franchisors in this country at the end of 2002, that number down from 6000 in a single decade. It is not hard from this effort to increase regulations to see why.
Why Do Franchisors have Exclusive Territories
The reason we Franchisors call it an exclusive territory is because we will not sell that area again to another franchisee. That is your area to market and to conquer and to generally obtain as much market penetration as possible.
How To Get Slightly Famous in Print
Early in my career, I wrote an article for a small business magazine about self-publishing as a marketing tool for businesses. Because I specialize in helping businesses get into print, the article only took a few hours to write.
Real World Accounting for Small Business Owners
If you're like me, you love accounting. It's so fascinating and such an ingenious system.
Beginning an Internship Program
CONSIDERATIONS FOR YOUR INTERN: Specify the number of hours the intern will be needed each week. Will specific hours be adhered to, or will the schedule be more flexible? Applicants want to know up front what they will be paid, if anything.
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