From the course: Small Business Secrets

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Competing with big businesses

Competing with big businesses

From the course: Small Business Secrets

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Competing with big businesses

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- When small businesses think about big businesses usually their first reaction is fear. We've all heard those horror stories about big box companies moving in, and putting mom and pop shops out of business. They have more money, they have more employees, they have more experience than you, but the reality is you can beat big businesses. You have some very specific competitive advantages as a small business owner that they can't touch. First of all, speed. Big businesses when they want to change something, for instance, improve the product experience for someone, it takes a long time. It's like steering a gigantic steamship to get it to turn around in a different direction, but if you want to change something in your business you can do it quickly almost instantly, because as the business owner you don't have to go through committees and red tape and politics and all of that. That is a competitive advantage that big businesses envy. Second of all is customer attention. You can give…

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