Why Small Organizations Mean Big Business
n the movie "You've Got
Mail", the sub-plot aside
from the love angle is that Nowadays, this situation will not
the heroine (played by Meg Ryan) hold true anymore.
was forced out of business when
the big-time bookstore owner More and more small organizations
(played by Tom Hanks) moved into are paving the way and giving big
town. businesses a shot of their own
medicine.
Meg's character owned a quaint
little bookstore which she In the movie, the reason why Meg
inherited from her mother. Ryan was forced out of business
Although the prices of her books is because she cannot profit
were a little steep, she makes up anymore. Her prices are steep as
for it in service. She packs the compared to the other big
books in a specialized bag, and business' discounted rates.
she knows all of her customers by
name. Her only edge is that she gives
personal service, she knows her
Tom's character, on the other customers by name and she has a
hand, moved into town to build a very small staff, about 2 or 3
branch of a big chain-bookstore employees.
which offered discounted prices
and a huge building, as compared As a small organization you may
to Meg's little bookshop on one turn around and have these
corner of the town's streets. qualities as your edge to compete
against the big sharks in
In the end, Meg was forced out of business.
business because her customers
went to Tom's monstrous bookshop. Here are some tips on how you can
hold your own against a big purchasing "necessary" items,
business: control yourself.
1. Small businesses have big Get a second and third opinion if
competition. possible, as these impulsive buys
may lead to the end of your small
This means that you need to know organization.
how to survive out there.
>Do not be afraid to seek
No matter what nature of business professional help.
you have, it is better to learn
about the competition so that you The fall of most small businesses
will be able to survive. start with decisions on problems
which are not carefully analyzed.
Here are some tips on how you can
survive the big competition:
Although you think that you
>Keep your business alive. already have a contingency plan,
make sure that you have foreseen
When it seems as if your cash the results of a certain business
flow is in a downward slope, keep decision.
a tight rein on your budget.
In the long run, it is better to
Do not spend on unnecessary seek professional help rather
business purchases and always than embark on a plan that could
balance your books. start the downfall of your
business.
If you are one to buy on impulse
or if you are the type to listen >Keep your books straight.
to those who sweet-talk you into
The better option is for you to arise.
hire a professional outside
accountant to figure the returns 2. Learn how to market your small
of your investment and handle the organization.
other financial aspects of your
business. Marketing is not about trying to
sell your products and services
>Take advantage of every free to everyone.
business counseling whenever
available. It is about knowing who to market
your products to.
This does not just help widen
your knowledge, but it will also In marketing, it is good to
give you an idea of how other remember these fast facts:
businesses are ran by small-scale
owners. > Know about your customers.
>Know exactly where your business >Communicate with your customers.
is headed.
>Build a good and personalized
In your day-to-day operation, relationship with your customers.
make sure that you know where you
want your company to be 5 or 10
years from now. This will be a great edge for you
to have against the bigger
Be always aware of the trends in companies.
the industry that you are in,
practice good money management They might offer discounted
and learn how to recognize prices but it is harder for them
potential problems before they to keep track of customers on a
more personal basis. big businesses these days so do
not be afraid to work hard for
>Do not stop the marketing the company that you have - not
process. matter how small.
As a small organization, you need If you work hard, make wise
to routinely review the markets business decisions, learn how to
that you need to pursue so that market your small business and
you can better reach out to your personalize your customer
customers. interaction, your small-scale
business is sure to rise to the
Remember, small organizations are top.
Article Source: http://www.ArticleStreet.com
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