by Lyndon W

Created on: January 30, 2007   Last Updated: September 24, 2011

Small does not equal being good as dead. Chances of survival is not directly proportionate to size. Ever wonder why the dinosaurs got wiped out, yet pests like the cockroaches still lived on till this day, or how about ants who are tiny in nature, yet hard to kill off their numbers? When comparing businesses to 'animals', it is all about adaptability for survival in the real world. The same goes for any area/sector.

~ Developing a niche area. Whether it is defined by the products you put up, or services you provided, the keyword here is to be 'Unique'. Stand out from the crowd, and do not be generalized. For example, handcrafted products as opposed to machinery-made ones. Providing good customer service and after-product support.

~ Play smart. Small businesses do not have the ability to go head on with larger companies, thus observing and going around them is a must sometimes.

~ Display association membership certificate or awards conspicuously on your company's office wall. Nothing is more pleasing to customers than to see stuff that increase their sense of trust and confidence in the company's capabilities.

Lastly, let me teach you on an excellent, but not commonly used business technique, which is to build a close rapport or credit rating with their local banks. At times when you have good cash flow, borrow small amounts of money (say a couple of hundreds or thousands) from your local banks. Simply borrow and place it in an interest bearing account, and then pay it all back at least a month or so before it's due. What this does is to increase the borrowing power of your signature. The banks' trust strengthens in your company and will translate to your ability to obtain needed financing when your cash-position becomes less favorable on short notice.

In order to survive small, aside from the ever-changing macro-economic situations outside, it is crucial to surround yourself with smart and capable people, and the practice of sound business management.

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