The services you offer, the customers you reach, the prices you charge, and so much more once depended on whether you were classified as a “big” or a “small” business. This is no longer as true as it once was. Now, it isn’t so much big or small, but fast. Now it all depends on who can give customers what they want when they want it, which in many cases is yesterday.
Once something new hits the market, success comes to the business that can offer it the fastest. Grocery shopping and deliver services are becoming all the rage. Some deliver to your car at the store, and some deliver to your home. They all save time, and the charge for the service is variable. The key to keeping up? Don’t fall behind. If this is what customers want, then the business that can offer it the fastest, at the best price, is the one that will win their loyalty despite the size of the business.
Get the Word Out
Of course, it doesn’t matter if you offer what they want if they don’t know that you offer it. Getting the word out before your competitors that you offer the service, or the product, is essential. Sometimes the best way to do this is word of mouth. Offer incentives for spreading the word, including discounts for sharing and trying the service.
Execution and Quality
You can’t just offer it, you have to have it nailed. Telling customers you will deliver their groceries to their house then not being able to meet the demand is a disaster. Fast is important, it is key, but fast without proper execution is not going to do you any favors.
Do it fast, but do it right. Do not sacrifice quality for speed. Instead, offer the best quality as fast as possible. Quality has to come first, but don’t take your time. Offer incentives to employees for learning new needed skills better and faster, cut lose contractors that are slowing you down, and set reasonable, reachable benchmarks toward the goal.
Keeping up with competition is never easy, and it is not getting any easier with advances in technology, and our increasing need for instant gratification. Slow and steady wins the race, but only if the competition stops moving. Whether your competition is a big business or a small one, keeping up with the ever changing demands of today’s customers is the only way to succeed.
Biz2Credit can help with that. Our network of lenders offers a broad range of small business loans for various types of borrowers. From expansion loans to equipment loans and everything in between, we can help you find the financing you need to offer customers what they want at the speed they want it. Visit Biz2Credit.com today for more information.