You’ve been running a small company for a few years now and it’s going well. In fact, it’s going so well that others are really beginning to take notice. You’re concerned that larger rivals are going to try and take your spot in the market.
You have a reliable customer base and a team to meet their demands. Nonetheless, the corporate world can be ruthless and larger firms have already started to try and siphon away your clients.
What can you do to protect your small business from larger firms?
Network with smaller companies
You may be a small firm but that doesn’t mean you have no options. Other small businesses may have similar concerns to you and are looking to do something about it. By pooling your resources, you may be able to fend off the competition. If you do decide to operate with third parties, it’s vital that you do so with the appropriate contractual agreements in place.
Focus on customer service and building trust
Sure, the larger companies may be able to undercut you on price, but are they being true to their word? How is their customer service? Customers are not naive and they know what they are looking for. If you are able to provide the highest standards of services, then your customers will keep coming back. Again, this relationship typically relies on legal obligations being adhered to at all times.
If you do find yourself in a business dispute, it’s important to find a resolution promptly. Seeking some legal guidance will help you get to the bottom of your quandary.