How To Compete With Online Giants And Win
Online giants dominate business today. They are only a handful in number, but have the lions share when it comes to sales. What makes them so successful and is it even worthwhile to consider opening up an online business? After all, how long can a small business survive amongst these giants? These are some issues on the mind of many a young and prospective entrepreneur. This article aims to explore the ways in which a small business can compete and win today.
Understanding The Battlefield
When it comes to victory, let us first define what we truly mean by victory before we begin our pursuit for it. If you are hoping that in six months you are going to beat Amazon in sales, you are fighting a losing battle.
Marketing is not a place for heroics. More often than not, the big company will beat the small company if they are pursuing the same goal. This is known as the principle of force. You can picture this as a truck colliding with a car. The end result would be more destructive for the car.
Now this does not mean that you will never win against the big guys. It just means that you have to make intelligent and realistic decisions. This strategy has been employed throughout history to great advantage. Concentrate your forces when the opponents have it spread out.
EBay may have more customers nationally, but you have a greater chance of beating them in your neighborhood or even your town. Concentrate your forces and aim for local advantage. Most small businesses make more money online if they have a focused strategy rather than trying to sell to the world.
The Internet - The Great Leveler
The Internet is a fascinating place to sell products simply because it offers equal opportunities to everyone big or small. Overheads related to selling are almost the same for everyone. Product costs may vary slightly but that is where you can use your local advantage and source locally for competitive advantage. You could offer better service increasing the value of the total offering. With local focus, your transportation costs will be lower and you could also develop an information system.
Businesses are built on superior information. If you know more about the customers needs than Amazon does and can serve them effectively, they will buy from you. The Internet helps you avoid costs and build advantage at the same time.
Find A Niche
One of the fundamental mistakes small businesses make is that they try to be everything to everyone. The first step can be avoided in choosing a market and the next step should be choosing a product or product line. The idea is to look at every stage and find where your products are needed. Find your niche.
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