While a larger business can outgun a smaller business with marketing and advertising budgets, a small business has a number of advantages that allow them to compete profitably.
Anyone can sell cheaply enough. It takes a professional to hold your margins because discounting too quickly is an attack on your bottom line.
Because of the many automated tools available for communicating on social media, it’s easy to forget people buy from people not robots. Here’s how to improve your social media messages.
Leading and managing others is both complex and rewarding providing you don’t make these common mistakes. People like being led – not bossed around.
A 2% increase in customer retention has the same effect as decreasing your costs by 10%, reducing customer defection rate by 5%. Profitability can increase by 25% – $125% just by keeping your customers.
Customers want to interact, engage, provide their opinion and read others’ opinion. Social media is a way of building trust, rapport and developing a community that helps grow a business.
There are as many pitfalls in owning your own business as there are rewards. When you do your research up front, you are far more likely to succeed.
Businesses don’t go out of their way to provide poor customer service, yet many businesses fail miserably. Providing a better service than your competitors can certainly give you an advantage.