Tuesday , 22 May 2018

How can a small startup beat the competition?

Entrepreneurial journey is trodden with a lot of pitfalls and challenges. And the one who succeed’s waring it can stand good in the market for a long period of time. Especially when it is concerned with a startup, an entrepreneur has to face a lot of challenges with respect to every petty issue. What do you think, is the most challenging and daunting thing when it comes to the entrepreneurial journey ? Well..!!! If you ask, “Competitor” or the “Competition” is something very difficult to face in the path of the entrepreneurial journey. Though competition is inevitable and unavoidable, but one can enjoy waring it with their potentiality and capability.

Small startups generally have the phobia to deal with competition when the talk is about big companies or big markets. But then, they should understand the fact that they are in the boat of added benefit for being small. Above all, competition ignites the fire to succeed and progress. So, if you are firm and loyal to your customer circle, then things would work pretty well for you.

How can a small startup beat the competition

Go unique and innovative to do wonders:
Your zeal and potentiality would fall hard on your competitors if you hit the mark with the right kind of strategy and attitude. Instead of letting your mind flow freeway, focus on your competitors move to face the competition wisely. When you are onto that mission do not forget to focus on your business as well. Make sure you make appropriate and workable plans for your business with respect to: consumer, profit, product, plans, sales, marketing techniques, and methods or modes.

To do things in a great way, all you have to do is consider the below- mentioned elements and try adapting to make things happen according to your wish or desire with a unique style:
• Stay precise and Concise.
• Infusion your passion into your work.
• The determination to achieve.
• Push the targets and boundaries.
• Be flexible and dynamic to change.
• Try your best to inspire and excite people to face challenges.
• Do unique with a fun factor.
• Network good relationships.

These qualities and attributes would definitely help you achieve your target with a peace of mind. As it provides you the scope to plan and think different.

Winning more business or business opportunity with competition behind you is quite a tricky but possible task, provided if the entrepreneur has the will and desire to buckle efforts.

Small startups can perform outstandingly, if they focus on the following metrics which include:
1. Execution
2. Quality
3. Speed
4. Price
5. Value

A smart work on these metrics would help you fight against the competition served by big companies or market. Because precision in these elements paves a way to success. And if you strive to make this perfect and qualitative then you can bang all the credits and growth.

Ok..!!! Do you aspire to beat the competition ? If “YES”, then go ahead to ponder some of the ways how even a small startup can beat the competition and come out flourishing.

1. Have Some Patience:
You cannot achieve big overnight, every process in the world takes a time to reach the ultimatum. So, do not get discouraged when you do not achieve the expected result because everything needs time to get accurate. Stay focused on your vision, be clear about what you are and what you are up to. This would help you find answers and make decisions easily.

2. Being Faster:
The people of this era do not want to wait, so if you are faster then, you are likely to have a good customer base. People get excited towards the faster service zones. Directing one’s efforts to reach your customer’s faster to offer service is way more worthy than building a big giant complex business which reaches slow. So small startup can make themselves faster be it with the delivery terms, responses to an e- mail, or anything.

3. Make Use Of Retargeting:
Sometimes a company would have denied working with you on your first approach. But then, retargeting them again with a wider view would help you to a great extent. So, basically retargeting is where you market about you and your industry with a particular set of audience you have recently interacted with. Make sure you hit them with a right and detailed prospect. This helps the small startups boost their visibility and familiarity. In a way, it also builds good networks and touch points in the business environment.

4. Stay Fearless:
The business community may try to intimidate you for behind a small or tiny startup. But do not get frightened to the jolts. All you have to do is take steps that prove your size in terms of work. Though big companies might expend huge to scale or Research or developments, but keep in mind that you are not less. You can hire a passionate individual who can complement your work to progress. Have belief, trust and self- motivation to achieve large.

5. By Staying Vigilant:
With the greed of big budget, projects do not forget the short term projects or small projects. Because big projects take a time to reap the benefits. But if you keep working with your existing customers, then you are in a good position to stay long in the market. Also welcome new clients on your list for added merit. Do not let big projects stand as a hurdle in your way.

The advantages of being a small startup:
• Low administrative and operating expenses which makes pricing and discount policies flexible.
• Low cost of maintenance, because the big companies spend a lot to preserve and protect their brand and style.
• The ability to nimble makes them flexible and dynamic.
• Can easily adopt different strategies.

Therefore, it is not the matter of being small of big in terms of size. It all matters with the capability and will of an entrepreneur and his concern. A good customer experience and service should be the goal of every concern.

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