Laura

person directly affected

Small businesses can compete with large corporations


People are afraid to start a business due to the dominating market players. They believe that there is no way that a newbie could possibly stand any chance with those business behemoths and even win. This is not true. It is beneficial to be small in many sectors.
These are six benefits that you enjoy as a small-business owner compared to large corporations.
You can make quicker changes and be more innovative.
 
The problem isn't just with big corporations. They are overwhelmed by the many layers of their decision-making processes and can't adapt quickly enough to changes around them. These changes happen constantly. They may not get all the necessary approvals before the event, and the benefits they do receive from these innovations aren't as significant.
Small businesses can be responsive to market changes as they occur. In many cases, you could be the sole person who is in charge, which means that you could make any modifications you wish to make to your plan the minute you think of the idea. However, this doesn't mean that you have to take rash decisions, the possibility of being agile makes you better off in the majority of situations where speed matters.
You can develop deeper relationships with your clients
 
Many people prefer to interact with people, not just companies that are not human. It's impossible for huge companies that employ thousands of people. They won't have the time or ability to build relationships with every client.
Small businesses can get to get to know their clients better through their team members and directly as owners. It is possible that your clients are not as many as you would prefer. They are likely to choose to interact with you via their team members or directly.
Teams can collaborate closely
 
Similar to the example above, but this time I'm referring to communication within the organization. Since employees are more connected and work together, it is more easy to establish better relationships.
Instead of writing lengthy emails to update your coworker on a project that you're working on, and then waiting for their reply instead, change your direction and ask directly them directly since they're right there with you. The flow will be much better. 
 b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b 


You have an extremely limited budget
 
You may be asking yourself how is it possible to make a small amount of cash? It's easy. You are able to be more innovative and more imaginative than those with the money. This is because you have to make sure every dollar goes to your company. This means you don't have to come up with a dozen different solutions to a problem. Instead, you should work hard on the one that is the best for your business. You only get one shot at it.
It doesn't mean large corporations can't think of creative solutions when they have lots of cash. However, this makes them more likely to settle for an acceptable solution as they can easily repair it whenever they wish. Another thing to remember is that you must take action immediately. Limitations are usually the most efficient.
It is possible to take on more risk.
 
This is a tricky one, because large corporations like I mentioned earlier, are more financially safe and less likely to take chances. It would seem that the losses they take are less important. Well, not quite. They may not be able to make risky business decisions that could be detrimental to shareholders even though they have more money.
You, as the owner of your company, are usually the only person directly affected and impacted by the decisions you make, even the most important. This may sound harsh however it's the reality that is better than being responsible for your own destiny.

 b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b
It is more beneficial to concentrate on your mission instead of making money at every expense.
 
Most big corporations aren't focused on satisfying their customers, as they used to in the beginning instead, they are focused on making money for shareholders. This is the way large corporations (especially those publicly traded) operate. For small entrepreneurs with an agenda, this is a great advantage.
Now you can concentrate on your customers, even if this means less revenue for the short-term. This strategy won't be profitable long-term, and big corporations don't endorse it. They must continue to bring profits continuously, while you think more long-term and put your present success on hold to make it more profitable down the road.