As an entrepreneur, it can be very intimidating when you realize that you’re competing against massive companies with years of successful history. Here are some tips that might help you stay a step ahead of your larger competition.
Take over a niche
One of the biggest advantages you have is that you get to pick exactly what your company does. Big companies have enormous bills to pay and greedy investors to please, which forces them to spread themselves across the entire market. If you keep your operation lean, you can make huge profits with a relatively small market share. Stay focused on serving your core group of customers and you’ll see your productivity skyrocket. The smaller your target audience is, the easier it will be to give them exactly what they’re looking for.