No better time than now for small businesses

No better time will ever come for small businesses to make their mark. As the big giants of enterprise continue to shed jobs and post declines in income and profits, so one needs to understand that here is an opportunity of gigantic proportion for the little guys.

There are many reasons why big business is failing. It could be that their size makes them too clumsy to change with market demands. Or the reason could be that their consumer has moved to other more appropriate markets. It could be that the consumer is no longer spending at all. It might be that traditional advertising is just not reaching the people anymore.

Whatever the reason, and there are usually more than just one, big business is feeling pain. Look at the motor industry crumbling on all fronts. It’s not only the ailing US auto makers that are dying. It’s trusted brands such as BMW and Toyota who are also looking pale and thin.

There are many more examples. Just follow the business news for a few days and they are popping up all over the place. No industry sector has been spared.

So surely this means that these are bad times all around and it will be especially difficult for a small business to keep its head above water?

I don’t think so. I think in these hard times the customer is looking for the kind of service the small guys can offer. They are tired of their hard earned money going into the pockets of uncaring companies who are only out to make huge profits.

The customer, who now has limited resources and needs to be cautious with budgets, will want to spend the money on total value. But it’s not only value that’s the issue here. The customer wants to see you care. They want to feel valued.

When there is limited money around and where customers are cautious when spending their money then there is a shift in power.

Before this shift in power the company could say take it or leave it. In fact they cared so little all customer support got outsourced to call centers. How uncaring is that. Letting people who have no vested interest in your company handle calls must be the ultimate in ‘I don’t care’.

How can the small business person capitalise on this? Be close to the customer. Constantly check back in person to ensure your service or product is providing the value that was promised. Give great after sales service and listen to everything being said about you and above all else respond to all.

Build a true and warm relationship with your customer. Be a face, a person, somebody who is approachable and will address issues and you will be ahead of the pack.

In a way the internet has helped bring a higher level of accountability to the market place. It is so much easier to spread the word about a bad product and the audience is so much larger and easier to get to. Of course good things can be said as openly as well. But it’s the negative stuff that has the highest traction.

Take advantage of the economic situation and build your own small business. It couldn’t be a better time to do