How to Compete Against Industry Giants

Posted by Calle Bjørnqvist in Marketing – May 18, 2017

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Being the smallest fish in the sea can be challenging, especially if you’re trying to move up the food chain. Larger companies have experience, better funding, and are better branded. If you’re a small company or a startup, this might be intimidating. However, you do have a fighting chance if you play your cards right. Here are three tips on how to compete against the giants of your industry.

Be fast and agile

Everything that’s large, moves slowly. Your business’ size is a huge advantage when it comes to making changes and adapting to the market. As a small company you’ll also be able to respond to customers quicker than the industry giants, and your sales team will probably be entitled to make decisions on the spot in more situations than someone could at a large company.

Plan for today, but aim for the stars

Growing your business is a daily process and you should always have your goals clear in mind when taking action. To set your company up for success in the future, you should invest in the things that will support the company’s growth.

Narrow your target demographic

It’ not easy to please everyone. It’s something that even industry giants struggle with, and it requires a lot of resources. You’ll find it easier, and perhaps even more profitable, to focus on solving the problems of a specific group of people. You can always expand your target demographic after the company has grown and you have more resources available. 

 

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