When you first begin the journey to starting your own business, you’re going to start on a small scale, right? For the most part, yes. Sure, you want your business to get as big as Apple or Amazon but you also know that success isn’t going to come overnight nor is it going to come easy. In knowing that, it’s also important that you know that just because you own a small business doesn’t mean that you’re goals and aspirations can’t be big.
Photo by Juhasz Imre
By starting out small, you have the advantage of becoming a household name in your local community. So, your brand might not be on a national level like big brand businesses… YET! But by getting your brand recognized in your local community is a great way to get on the path of transforming into a big brand.
First, your brand will be recognized in your community, then it’ll be recognized in surrounding counties, next it’ll be recognized in the state in which you live, and then you can take the world by storm! All in that order, not necessarily at the pace you’re reading but nonetheless, your small business can take off in that order as long as you think big and take the necessary steps to become a big brand business.
Find Your Niche in a Smaller Customer Base
So the whole idea is to think big, right? Yes, but in finding your niche, think small for one second here… What do you know about big businesses? You know that they appeal to a larger customer base. Okay, so it appeals to a larger customer base but can you see where the problem lies? They don’t reach customers with a more specific need. For you, a small business owner, this can be wonderful news.
For one, in order to grow into a big brand, you have to understand that in being a small business owner, large businesses aren’t your competition, right now. Your main concern right now needs to be how can you make your business and brand stand out? How can your business and brand meet those specific needs of customers that the larger businesses can’t?
Just because you’re starting out in a smaller market with a smaller customer base doesn’t mean that your business won’t grow into a big brand… just keep meeting the specific needs of those targeted customers and watch your customer base grow, all while still thinking big!
Always Keep an Eye on Technology and Innovation
One of the quickest ways to keep up with your competition and stay relevant is to keep a close eye on technology and stay updated on the latest technology trends that will help your business grow. This is coming from a business standpoint and a customer standpoint.
From a business perspective, you’re going to look closely at technologies that will improve the operations of your business. There are technologies that every entrepreneur needs to take their business to the next level. For example, video conferencing and virtual assistants.
From a customer perspective, you’re going to look more at innovating. To bring innovation to an industry, you’re going to have to find a problem to solve that no other businesses are solving. In all honesty, there are problems that could be solved but businesses avoid them because they require too much time and effort… what they fail to realize is that if they took the time out to solve those problems, it could lead to significant amounts of money!
Could you imagine the amount of success you could have if your business was the one to solve a problem that other businesses avoid? Just remember to keep your customer base and market in mind when innovating… never be afraid to tackle those hard problems head-on… after all, somebody’s got to do it and it might as well be your business!
Think Big, Think Growth
In thinking big, that really means you’re thinking about growth and the expansion of your business. In expanding and growing your business, that could mean investing in multiple business insurance policies, taking on more employees, putting policies and procedures into place, and even moving into a larger office space.
As your business grows, it’s going to cost you more money so it’s better to plan for growth in the beginning stages of your business rather than try to compensate for it later, so if you know you plan to grow and expand your business, you need to make smart purchasing decisions from dedicated employees to sturdy equipment that will grow with you as your business grows.
According to Breezy HR, a bad hire can cost a business around $240,000 in relation to onboarding, skills tests, and criminal background and drug tests, etc. You never thought a bad hire could cost you that much but it does.
The people you hire are a direct reflection of your business and brand; if you have the wrong people working for you, it could do serious damage to your business reputation.