95% of the time, someone else already ventured and is doing well in that small business you’re looking to start. So how do you get in there and win? Outlined below are a few ways on how to work your way up amidst the old and highly competitive businesses.
i. "Fast and fluid" must be the name of your game
Most existing and established enterprises are kind of relaxed and too tiered making their operations kind of slow and rigid. You want to be fast, especially when dealing with your customers at your shop. You want to be fast in making decisions, executing your plans and embracing change that comes with rapid growth as a competing small business.
ii. Stay open longer in your working day, everyday
Most established businesses observe the nine-to-five routine, and are closed on weekends and during holidays. Open your shop before the sun rises every single day including on Sunday, Independence Day, Xmas Day, and even on your anniversaries (you can raise yourself a toast in the evening after work), and remain open until way after the sun sets.
iii. Offer what the existing and established don’t
Research on what products and services the existing and renowned enterprises in your trade offer, and how they do it, then go forth and make available at your small business what your competitors do and also what they do not offer. You may as well just offer the same products and services as your contenders do but in a different way, a better way.
iv. Plough most of your profit back into your biz
Inasmuch as existing and established businesses raise massive returns, most of that is used to pay employees, settle debts and taxes, and maybe sponsor some local football team. You neither have any/many workers nor huge dues so, reinvest most (over 65%) of your gains in your small business and watch it scale up as fast as a lightning bolt.
v. Be all positive about the existing and established
Talking trash about and wishing the worst for your competitors, especially those who came before you, is bonkers. You cannot look down on those who are above you if you want to rise as a small business, you can only look up to them. You want to shut the f*ck up and learn the game as you work in total silence, and only say positive things if you have to.
I’m a beginner tech and biz enthusiast, and a blogger of stuff I find useful and interesting in my adventures as a Kenyan. Click on LinkedIn, Twitter, Facebook and Instagram to like and follow my pages on the mentioned socials. Send me an Email
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