Costa Rican longtime entrepreneur and philanthropist discusses how a small business or startup can compete against larger, more-established organizations.
Online PR News – 17-June-2019 – San Jose, Costa Rica – Moving into another city or occupation can be overwhelming - the problem of discovering a new place to live, the worry of moving individual things and, most particularly, the general population or city tolerating another person probably won't please. The equivalent applies to private companies that are expanding into an industry already full of larger competitors. For a small business owner, finding the right niche can be a time-consuming endeavor, but will also be rewarding when it's found. Costa Rican business leader and philanthropist Ann Marie Puig shares some of the secrets on how a small business can compete with these larger organizations.
Small companies need to become singularly focused on a selected market segment. To contend and beat greater adversaries in the business, entrepreneurs have to concentrate on their essential customers, which, for example, can be a particular demographic or the college crowd. Explains Puig, "Understand, and marketing to, a basic segment will pave the way for quicker sales and more marketing revenue, which will help the business to continue to grow."
By focusing on a particular market, small businesses have the option to establish a following, help sales go through the roof and see major growth explosion. If you're beginning a business in a market that has established contenders, you have to find a niche and conquer it. Dig further and find undiscovered subcategories in your market, pitch to those consumers and watch the business grow.
The reason someone gets into business is to solve a problem perceived by consumers. Once you establish yourself as the solution, attack with everything you have - grab a competitive angle and showcase it. Narrate your story to the client - without trying to sell it - and create an edge that will resonate with consumers - the reason you began your business, the value of your product or service or even how your solution tackles the problem better.
In connection to entrepreneurs, you have under 8 seconds to persuade a client about your products. A website should pop and catch the consumer's eye, enabling them to comprehend your items or business. Says Puig, "Plan your site to make significant guarantees about your items and experience them. With a laser-focus on client base, your products or services ought to be intended for your clients; they should convey an important guarantee and experience which is totally new and not quite the same as your rivals."
One tremendous bit of leeway of being a private company is the capacity to associate with clients legitimately expelling the bottlenecks and administration of bigger organizations. Making space to convey better encounters and surpass client desires. Puig adds, "Your capacity to react to emails, send manually written notes of thanks and understand objections brings about astounding client encounters, which yield more clients through informal advertising, online audits and web-based life channels."
For a private company to endeavor and win rivals in an industry, the above techniques ought to be connected to a showcasing spending plan and time span to quantify viability and ROI.
About Ann Marie Puig
Ann Marie Puig has been a distinguished Consultant, Assistant Controller, Accounting Manager, Director of Accounting and Finance and Chief Financial Officer for almost 20 years. She is bilingual in Spanish and English and has a reputation for accurate, clear and concise record management in month-end closings, accruals, reconciliations, AP, AR and JE, as well as superior human resource skills. She is extremely knowledgeable in current technology, eCommerce and a variety of Industries.