BRX Pro Tip: Being Small is a Competitive Advantage
Stone Payton: [00:00:00] Welcome back to Business RadioX Pro Tips. Stone Payton and Lee Kantor here with you. This ought to come as welcome news, but I believe it’s true, and I know you do as well, Lee. Being small is, or at least can be, a real competitive advantage.
Lee Kantor: [00:00:18] Yeah. I think that when you’re a small business owner, you look around you and you see all these bigger players going, “Oh, they have so many more resources. They have so many more people and bodies to throw with things that I can’t compete.” But I disagree with that.
Lee Kantor: [00:00:34] And there’s a lot of advantages of being small. Some of them are, number one, you are the only person who can do exactly what you do. So, really, you don’t have any competition. That means that you can look at competitors, not as competitors, but as collaborators. You can help your perceived competitors in ways that they can’t help themselves, because you can collaborate with them and use your services to fill in gaps that they’re lacking. So, I think having no competition because of your unique ability to do specifically what you do is a tremendous advantage.
Lee Kantor: [00:01:19] Another thing that’s an advantage when you’re smaller and you’re focused on the niche is that you can gain a deeper expertise in the niche, because, number, one you’re interested in. And number two, you don’t have any bureaucracy stopping you from being nimble and reacting to any new development in your space.
Lee Kantor: [00:01:36] Larger organizations, if something new comes along, they have to have meetings, they’ve got to go to committees, they’ve got to get approval. You can just pivot on a dime and move and just focus on anything new, because you’re interested in it and that it can really be an opportunity. And you can kind of jump on it before a larger organization can.
Lee Kantor: [00:01:56] Another thing you can do is you can do the things that aren’t necessarily scalable. Because all you are is focused on your client success, where bigger businesses have to create systems to have the ability to scale. You can do one off things for your established clients because you don’t need hundreds of clients. You only need a handful of great fit clients to have a successful practice. So, you can do these things that don’t necessarily scale or can’t be replicated a bunch of times. You can do it as a one off just to help your client.
Lee Kantor: [00:02:33] So, this ability to kind of customize your service is a tremendous advantage. The ability to be nimble is a tremendous advantage. The ability to not have any true competition because you’re unique is a tremendous advantage. So, lean into being small because it is an advantage.
