Skip to main content

Posts

Showing posts with the label Being smarter

Being smarter, not just smaller

  Over the last couple of decades, few things have changed the landscape for small businesses as much as the advent of huge megastores. Small businesses now need to get consumers to understand the importance and benefit of buying local; to recognise the ripple effect on the entire community that local purchases and local businesses have on the economy and what happens when those close. Small, local businesses also need to get smarter. It is not just enough to complain about supersized stores, you have to beat them. While it's difficult to survive in today's retail environment, it's not hopeless, and many small companies are managing to thrive. Here's what the survivors are doing: Specialise Big stores aim at big markets; they can't afford to market to and serve niche markets. You can. Identify a segment of the market with special needs and tailor your offerings and service for them. Compete on your terms, not theirs You won't be the low-price leader; they will.