It is tough to have a small business and struggle to meet the client’s needs and sales targets each day. It can be quite demanding of your time as well, and you may even start wondering why you went into the business in the first place.
But small companies do have some advantages over the large ones if you only take the time to think about it. While these aren’t always obvious, it’s always good to re-group and identify what makes your company great.
One of the biggest benefits of small companies is making changes quickly; this is because the management is also small, and decision making is quick. For large corporations, every decision has to go through a committee that takes forever to decide, and hence changes do not happen rapidly.
Benefits Of Being A Small Company As Opposed To A Large One
Greater Flexibility
As a small firm, you are more flexible and able to make quick changes that are necessary to the survival of your firm as opposed to a large one.
Think of the Titanic and a speedboat. While the people on the Titanic are still wondering how to go around the block of ice, the speedboat already nipped past it and is way ahead.
That is the difference. Large companies have to go through long processes of making a simple decision while a small one probably needs the sole proprietor to decide.
Greater Expertise
As a small firm, chances are that you are probably focused on a compact skill set, which offers great advantages such as when people need your services, they know that you are the go-to person and that you can deliver.
This is quite different in a big company where there are many different skills, and finding what you need is not as easy. You must go through many different channels before landing on the skill set you are looking for, which wastes time and resources.
Expert Uniqueness
You will be able to gather more credibility as a small firm from your few customers, especially if you are in the business of producing distinctive and individual products.
This enables you to come up with unique products that differentiate you from the large firms. Customers usually crave goods and services that stand out from the masses, and therefore this is your strong point as a small firm.
Also, being a small firm, you have the complete freedom to create and produce what you want to, without seeking the approval of a large group of committee members.
Greater Satisfaction
The buzz of producing something a customer is pleased with is really great and gives you the feeling that you are doing a great job. This can however only happen in a small firm, and the feedback you receive is what will keep you going.
You are also able to deliver top-notch customer service as you are at the sharp end of any complaints from the customers, and are well placed to understand what is wrong with your company and how to change things up.
Therefore, one of the biggest advantages of being a small firm is the personalized service that you offer your clientele. They are few, which means that you are even in a position to speak to all of them individually so you can cover and provide them with what they need.
Conclusion
Being small may seem like a bad thing, but it really isn’t that bad when you think about it. Since you must start somewhere, use this opportunity to build a strong customer base while you are still small, so they can stick by you even when you make it and become a big corporation.
