So now you have gotten your business up and running, you have conquered all the major legality issues that come along with a venture, but now you are starting to question your true ability being a very small business with limited capital.
How are you going to compete with so many of the other firms out there who are much larger, have strong corporate structures and many funding resources available? The answer is really quite simple and in fact what you think is a disadvantage actually can be reversed and used to your benefit for the ultimate growth and success of your company.
Your key to success will be the fact that you are operating a small, mobile, and decisive operation. In this article I will show you major points that will allow you to recognize the fact that your business can be a small bomb with a big boom that carries a very professional appearance!
First off it’s important to recognize the true advantage that your business has over large giants. Sure they may have resources available that you
don’t, but they also have the large capital requirements, the slow operations process, more miscommunication and company conflict between employees and management.
Your operation is small and is able to make quick decisions without long lines of approval, you are able to make quick adjustments without pricey corporate restructuring expenses, and you are able to be more personable and dedicated to clients.
Look at it this way, a person who weighs 490 pounds is stronger than a 190 pound individual, however the smaller person who weighs 190 pounds is going to have greater mobility and the opportunity to move easier and quicker than someone who weights 490 pounds because they are not carrying as much excess weight, the same concept applies here!
The way that you allow your business to compete with large firms is by investing money into technology, company documentation, and building a
professional team of contacts.
Basic website templates and web hosting with companies like Yahoo are available for as little as $9.95 per month. Also free business cards, low priced labels, letterhead paper documents and much more are available through companies like Vista Print.
Last but certainly not least make contacts in your community, tell other professionals that you are looking for a mentor and you would like to take them to lunch just to get to know them better, the worst that they can say is no. Professionals are busy so always respect their time and carry yourself like you mean business.
The closer you get to these individuals, the more they let you into their circle of contacts, which is great! Make connections with people in all areas, Lawyers, Real Estate Professionals, Bankers, Landscapers, Janitors, Teachers, Doctors, Musicians, it doesn’t matter. The more contacts and diversity you have, the more connections your business will have.
Read some related articles:
- University Venture Fund Imagine waking up in the morning, eating breakfast, going to class, studying for your exams, then proceeding to run your own Venture Capital firm. Well...
- How do you become an expert? How do you establish yourself as an expert in your field, marketing yourself as the person to turn to for expert advice and becoming the...
- Coping With Feast and Famine There is a wonderful book by an Australian author called, Flying Solo (flyingsolo.com.au). I think it is particularly poignant for budding entrepreneurs and those already...
- The Career Path to Becoming a Venture Capitalist or an Entrepreneur "There are some lessons one should learn before becoming a venture capitalist or entrepreneur. One thing to avoid is Morgan Stanley disease." -- Guy...
No comments yet.