Nevada entrepreneurs should be wary of larger companies trying to squeeze them out of the marketplace. It is not uncommon for large businesses to have a fear of disruption. Therefore, they may attempt to incorporate changes before their smaller competitors can cause such disruption to happen. However, smaller businesses can win by offering better customer service and targeting niches that mature organizations may not effective in reaching.
Those who are starting their own company should offer personalized service whenever possible. This means creating as personal of a relationship as possible with clients or customers. Responding to customer inquiries with form letters or other automated responses is an easy way to lose a sale and potentially profitable long-term connections. Furthermore, the same person or group of people should deal with a customer as much as possible. This makes a customer feel as if he or she is dealing with a human as opposed to a faceless corporate entity.
While large companies may have advantages when it comes to meeting the needs of a customer, they can’t always offer the best service or pricing. This is where smaller companies can come in an fill the gaps that are created. If there is a need for a product or service, it is likely that a startup can find customers if it is flexible and resourceful in doing so.
During the business formation process, it is generally a good idea to identify what need a company is going to address. This may make it easier to determine how to structure the business and how to grow it over time. An attorney may be helpful in creating founder agreements and vendor contracts.
