Published On: Thu, May 11th, 2017

Surviving As A Small Fish In A Big Pond

When you are a small business trying to survive in an environment of multinational corporations, it can be tough. Especially if you are producing your own products, as the resources available to you may not compare to what the big boys have. But that doesn’t mean all is lost. In fact, you can survive and thrive as a small fish startup. Just read the guide below to find out how.

Make use of technology

One of the ways that a small startup can level the playing field with the bigger companies nowadays is by utilizing the latest technology. Both for their customer facing arm and their production arm.

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In term of customer relations, this means having a professional and eye catching website that’s easy and pleasant to use. Also, keep your eye on developments in technology and use them wherever possible to make it easier for the customer to feel reassured about the product that they are buying from you.

A good example of this is using chat boxes on your site. As this allows customers to feel like they’re dealing with an individual, and allay any concern they have about their purchase or delivery.

Regarding production, using the latest technology can really give you a leg up over the competition no matter what size organization they are.

Look for small developments like the advanced clamp on flow meter, or a production line sorting conveyor. Which will improve your process flow and save you time and money, increasing your profit margin.   

Make use of local resources

Something else that it may be easier for you to do as a smaller startup firm is to make sure of local resources. This is because multinationals may overlook resources such as material or staff that are available in the local area. As they are not designed to function at that scale.

Surviving As A Small Fish In A Big Pond

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That means you can benefit from folks that are eager to work and materials that are good quality and at a reasonable price.

As well as these financial benefits, there is also the additional advantages of being more eco-friendly as the resources won’t create as much pollution because they don’t have to be shipped from a long distance away. Also employing locals is a great way of being community minded which will help you build a further positive reputation.

Keep on top of your plant maintenance

Another important way to keep your head above water when you’re a smaller company is to ensure that you take the best care of your plant possible. That means regular checks of the production lines, as well as regular cleaning and safety maintenance routines.
Surviving As A Small Fish In A Big Pond

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Work with your staff

Smaller companies have an advantage over larger ones because it’s easier for them to connect with their staff. This means that staff feels less alienated and more integrated where they work, making it more likely they will work hard and stay for the long term. Which is excellent for you business as you get quality and consistency over a longer period.

Of course, you have to actively make use of this opportunity, by treating and paying them reasonably. As well as introducing ways of them bonding with each other such as company reward days and social events.

Have a USP

It can also help smaller companies to stand out from their larger competition if they ensure that they market the products that they are selling in term of their USP or unique selling point. This can be used to show that their product is different from the one that is being produced and sold by the big boys.

But what is the most effective way of doing that for a startup? Well, consider the areas in which you beat the competition. For example, if you are more community focused, or environmentally conscious, the use that as your selling point.

Keep Innovating

Lastly, a way that smaller domains can really triumph over their larger competition is through innovation. This can be related to the research and development of their product, or the process itself.

Smaller companies are unique in that they are able to listen to feedback from line production operatives and make tweaks to their processes to improve the quality of the product and the efficiently of the line itself.

Surviving As A Small Fish In A Big Pond

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In practice, that means it easier for them to have their ears to the ground, and make changes without getting stuck in a lot of company bureaucracy and red tape. Which make smaller companies much more flexible and able to adapt to the market’s current needed while still making a profit.

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- Young Entrepreneur & Daydreamer. Working towards making the HatchByte group among the top online media publication in India.