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"Certainly, we are trying to preserve all of that culture, and get the advantages of being a large company with a broad product line, with stability, worldwide presence, great support, and yet have the advantages that a small software company has." ~ Bill Gates

 

Advantages a Small Business Offers To Its Customers

By Dave Wendt1

Empathetic Marketing

Selling Is Problem Solving

  • Personalized Customer Relationships: Small businesses have a genuine concern for customers and an understanding that business is about relationships.

  • Customer Service: Small businesses care about their customers and have the ability to handle customer complaints and concerns immediately.

  • Responsibility and Responsiveness: There is no “passing the buck” when it comes to small business. Small businesses are responsive and able to make immediate decisions to meet the requests of their clients.  >>>

Growth Categories of Small Firms

  • Lifestyle firms

  • Middle-market firms

  • High-potential firms ... More

Entrepreneurial Mentality

Success Stories Best Business Practices Jack Welch: Behave Like a Small Company

Jack Welch, the legendary leader of GE, believed that small companies have huge competitive advantages. They "are uncluttered, simple, informal. They thrive on passion and ridicule bureaucracy. Small companies grow on good ideas – regardless of their source. They need everyone, involve everyone, and reward or remove people based on their contribution to winning. Small companies dream big dreams and set the bar high  – increments and fractions don't interest them."... More

Customer Care

"There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else," said Sam Walton.

Sam Walton's 10 Rules for Building a Successful Business

Sadly, many mature companies often forget or forsake the thing that made them successful in the first place: a customer-centric business model They lose focus on the customer and start focusing on the bottom line and quarterly results. They look for ways to cut costs or increase revenues, often at the expense of the customer. They forget that satisfying customer needs and continuous value innovation is the only path to business success and sustainable growth. This creates opportunities for new, smaller companies to emulate and improve upon what made their bigger competitors successful in the first place and steal their customers.

Customer Success 360

That's why large corporations keep trying to design business processes that will give them the customer-service advantages they once held as small businesses... More

Success Stories Best Business Practices Lessons from Konosuke Matsushita

"The bigger the organization," Konosuke Matsushita, Founder of Panasonic, believed, "the harder to improve its efficiency. The organization where efficiency is the most difficult to improve is the government. It's not that public servants don't work hard; it's that the environment they are part of prevents them from working hard. Surrounded by conditions that obstruct their efforts, the fall into an attitude of pessimism."

Large companies, he felt, have the same problem. Small enterprises would soon be out of business if pessimism set in, and there is much more freedom of initiative and activity. Companies with 20 to 50 employees enjoy a responsive, personalized environment in which it is easy for each person to understand the personalities as well as the work being done by the others. Matsushita felt that such companies could attain 120 percent performance from their employees.2

 

 

References:

1. "Selling Is Solving Problems," Dave Wendt

2. Matsushita Perspective on Business, Panasonic HA Air-Conditioning (M) Sdn Bhd.