The world is full of plucky, exciting startups. If you’re reading this article, you probably run one of them. It’s a fantastic time to start a business. After all, you only need an internet connection and a great idea to make money these days. However, can you still break into the big leagues? Is it possible to compete with the biggest players in the game?
The answer is a simple, but resounding yes. Small companies can compete with the biggest businesses. In fact, startups have plenty of benefits over their giant competitors. For instance, startups are more agile and adaptable. They can work faster, and they are inherently more creative, which will take them to the next level. Let’s look in more detail at how your small startup can compete with the best.
Find your unique selling point. If you’re going to compete with the biggest players in the game, you need to find a unique selling point. You need to show customers why they should buy from you instead of the bigger, trusted names. Convincing a customer to turn away from a big brand is tricky. That’s why a unique selling point is crucial. What do you do that the biggest companies don’t, or can’t?
Adapt to the market. Fast. As a startup, you’re biggest advantage is your small size. You can react to the market quickly, and capitalize on trends. The big firms work on year-by-year cycles and projects. They can’t possibly react to a consumer trend. But you can. You can change your marketing campaign in a day. You can alter your product quickly, because it’s produced on a smaller scale. If you spot a gap in the market emerging, you’re much better placed to capitalize.
Improve your production line. One of the huge advantages of the corporate giants is their well-oiled supply chain. The can produce and ship products in their thousands. If you’re to compete with the biggest players, you need a similar system. Perhaps it’s time to start thinking about scaling up your production, logistics, and shipping operations. Companies like Schaefer Systems can help you optimize your logistics chain, and bring it in line with the biggest players.
Be brave, and price yourself higher. One thing that often separates the big guys from the startups is their pricing structure. Small companies inherently price their items lower. Why? Because they think they are worth less than the bigger companies. Be bold, and set your prices competitively. If you want to be mentioned in the same breath as the big guys, price yourself in the same market.
Create a brand identity. The final thing that big companies have in abundance is recognition. They have built up brand awareness and trust over the years. It’s difficult to compete with that. But, it all starts by creating a unique brand identity. Create an image that sets you apart from your rival companies. Start building your own identity, and build trust with consumers.
Taking on the giants of industry is difficult, but not impossible. Use your size as an advantage to adapt and capitalize on market niches. Improve your internal systems, and create your own identity.
Photo by Radek Grzybowski
Milo Senalle
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