Small business have the superpowers to pay attention to the details and react quickly enough for decisive changes.
The ASIC Australian Securities & Investments Commission defines small business >here as
a privately owned sole trader, partnership or corporation with
- annual revenue less than $50 million
- gross assets less than $25 million
- employs less than 100 employees
This is how we interact with small businesses almost every day
- Grabbing a flat white from the cafe
- Looking up the menu to order chicken curry katsu for delivery
- Setting up a lawn moving service
- Following an Australian business online
- Sending an email for your car or air conditioner to be serviced
- Heading to the seafood market for locally source oysters
- Buying from our local boutique stores – whether online or down the street
But no matter how ASIC defines small business, small business drives the nation’s economic growth – not big business or brands.
Customers are an investment. They deserve to feel their problems are understood and solved. They want and deserve value for money.
The ultimate target for every business – whether big or small – is the customer. It’s all about the customer.
Every successful business demonstrates they understand their customers problems by efficiently offering an excellent product or service as the solution – without costing the earth or their mental wellbeing.
Here’s how to power up
The power of small business comes from
delivering a personalised product and customer service
Focus on top-of-the-line products and customer service
Big corporations may get a lot of things right – like building a brand name and client base – but they fail at personalisation. How much time can a big corporate commit to a single client if there are hundreds more to look after? How much attention to detail can a big corp pay to their products if it’s mass produced?
By focusing on the quality of our products and offering personal service, we show the customer they – and their problems – matter.
This starts with managing the customer and their expectations every time there’s a point of contact – from knowing how they found you, to finding out their name and their needs while keeping them informed of the business process every step of the way – even when the going gets really tough.
It also includes the processes in creating and delivering the product, from sourcing the best suppliers to the most resourceful and skilled team, the best technology and equipment and recording each step that brings the final product together and in the customer’s hands.
Get these right – and we’ve got better products or service than any of the big corporate brands.
being reactive and quick to pivot and make changes
Always be reactive
The nature of big business does not allow for quick decisions and changes: big corporations can often take up to 6 months to roll out a policy change and at least 12 months to implement a new product or service. Imagine our customers patiently waiting for us to make those kind of decisions and moves.
Small business deliver faster results in less time by focusing on response times and changes in direction when necessary, such as
- Sending an agreement clearly plotting the final product or delivered services to set customer expectations while keeping us accountable
- Finding the sweet spot that lands us the job with a great product and service for the customer while covering costs and pre planning – during a pandemic, staff shortages or an uncharacteristically wet month
- Offering quotes with on-the-spot discounts if our customer-to-be signs right now
- Personally picking up the phone to call or return a call, texting when you’re 30 minutes from the job or simply replying to emails to manage our customers’ expectations
- Tracking our license and insurance expiry dates to keep our team and equipment fleet on the job.
- Learning from customer feedback when there is a communication mixup or error in the delivery of the product of service
- Pricing jobs right while promptly following up overdue invoices to maintain week-to-week cashflow
- Managing and upskilling our team to meet business standards and expectations
knowing our strengths to carve out our niche
Know our strengths
We successfully stand out in the marketplace to our competitors and customers when we know our market position. Your market position comes from knowing your strengths to stand out as a specialist in your field.
The clearer you know what sets you apart, the better this can communicated to your team and customers to earn trust and business.
staying intimately connected to our customers and our team
Communication is key
Humans ultimately want to connect with each other. Through genuine connections, we feel heard, respected and validated.
Strong relationships are built on trust.
Great relationships are a sign of these strong connections.
Customers are more likely to buy from you and refer you if they have an emotional connection to your business.
Earning trust leads to sales.
And this starts from within – with our team.
By empowering our team with the right tools, training and resources, we are truly aligned in giving the customer exactly what they need. Listening to our team and empowering them makes them feel they are heard, respected and validated.
Communicating directly to our customers through our messaging – like blogs, newsletter blasts, social media posts, emails or the phone – maintains the connection they are heard, respected and validated.
Constant genuine customer and team communications keep our fingers on our business pulse
using our small local status to our advantage with strategic partnerships within the community or local industry
Strategic partnerships within the community or local industry
We might not be able to stand out on the main stage against the likes of big brands such as ADCO or even Google, but we can still leverage where we stand in the community and the industry through strategic partnerships.
Now more than ever, strategic partnerships are the key to keeping communities together. Local business means funds are kept local for a thriving, stronger community.
ℹ️ A strategic partnership is a partnership where resources are shared between businesses.
One business alone can’t please everyone, so a great strategic partner complements our products and services to add value to our customers and fill out their needs. We can create strategic partnerships through industry associations, local chambers of commerce, community groups, council and other local businesses, leading to greater exposure to their audiences and customers.
And the best thing about connecting with local businesses: it doesn’t have to cost a thing.
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