Skip to main content

Small but Mighty Homepreneurs

Work-from-home businesses are often small—with one or two employees. But when homepreneurs sell their wares in the marketplace, they often compete with the big dogs. Presenting products or services next to large, established companies with dedicated staffs and expensive marketing materials can be daunting. It's easy to feel minute when faced with a behemoth or even a mini-behemoth. This feeling of inadequacy is a confidence buster. Worse, it can give a small business an identity crisis. A business owner who originally entered the market energized may begin to wonder if her business can compete. In her mind, she may question whether the business is a career changer or just a hobby.

So what makes a business a game-player? Is it the number of employees an organization has? Maybe, it is the size of the company's product portfolio. It could be the company's budget or profit margin. These certainly help, but businesses strong in these areas still fail. I say, it's the professionalism and ideas a company brings to the table. Just because a company operates out of a garage doesn't mean it doesn't have valuable ideas or products that can benefit others. I say, go into the market big. Show how your business will benefit your customers. Present your ideas professionally and clearly. Brand your business mightily and support your brand with your actions. With hard work and confidence about your abilities, your small company can compete side by side with the seasoned veteran—and maybe show them a thing or two.

How do you compete in the marketplace?

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Marketing Your Competitive Advantage

Marketing is the processes used to get your message and product to your customers and potential customers as effectively as possible. If you’ve ever had to go door to door with your child selling candy bars for a school fundraiser, you understand the basics of marketing. The school has probably identified a sales target for you and your fellow candy bar sales people. Your job is to find the most effective way to reach the target. You want to edge out the competition by setting yourself apart from the candy salesperson down the block. Before hitting the street with your box of candy bars, you’ve sized up the market. From previous wanderings around the neighborhood you know who will bring out their wallets and who will kindly (or not so kindly) say no thanks. You may even have an idea about what type of candy bars your neighbors prefer so you can choose your candy supply accordingly. You use this information to sell to the folks most likely to buy. Guess what? You’re a ...
Post a Comment
Read more

Raiding the Piggy Bank

Tradition in my family dictates that every pink and perky baby receives a coordinating pink and perky piggy bank. Some piggies are plump and some are petite. Other piggies are silent when coins drop and some oink up a storm. Some require a hammer to share the wealth while others just require a twist of the fingers. My child’s favorite is the bottomless piggy bank where money goes in and it comes right out again in a never ending stream of cash. As a business owner, knowing whether to choose a piggy bank that is plump or petite, silent or loud, locked up tightly with strings attached or open ended is an important step in building your business. When it’s time to pick a piggy, consider your type of business, financial need, credit history and economic conditions. Options for financing include: Self-Funding If your start-up costs are minimal and you want to keep financial entanglements to a minimum, reaching into your own pockets to fund your business may be a good choice. Self-fund...
Post a Comment
Read more

Writing the Essential Business Plan

It's tempting to jump in with both feet when starting a business. There's so much to do, from choosing a company name to finding employees. Before adding too many items to your to-do list, though, take a deep breath, sit down at your computer and write out a business plan. A business plan serves two main purposes. It is a resource for leaders within your company to follow throughout the life of the business. It is a resource for others such as investors and creditors to learn about your company. Each business plan is unique to the company that creates it. Length and content may vary based on the audience that will view the plan. If you are writing for investors, focus on the financials. If you are writing for creditors, include information that explains how they will be repaid. Because your company is a growing and changing business, your business plan will also change, but by including key information about your company you will always have a jumping off point for makin...
Post a Comment
Read more