Face the Competition

Big opportunities for small business to stand out this holiday season and beyond

EDITOR's NOTE: Face the Competition typically appears on the first Tuesday of every month. We are advancing publication by a week this month so that our loyal small business owner readers can take full advantage of the authors' recommendations this crucial holiday season. 

 

Thanks to the hard work of small business year-round and “Small Business Saturday” observances around the country during this time of year, buying from small retailers has become more intentional among holiday shoppers.

We would not be surprised to find that intent felt even more deeply this year, as consumers may feel a tug to support the entrepreneurs and merchants whose businesses suffered from COVID-related shutdowns last year.

As small business owners ourselves, we support the nationwide rally around our businesses.  True, as a boutique consultancy, Dorsey & Company may not benefit from all of the love poured into small retailers this holiday season, but we support the spirit around the effort.

The choice to shop small needn’t be such a burden for consumers supporting our small retail and brick-and-mortar counterparts. That’s partly because small retailers can provide personal service big retailers can only dream of delivering.

Small retailers can provide personal service big retailers can only dream of delivering.

So, this holiday shopping season, we salute you dedicated makers, bakers and shopkeepers of all stripes who have sacrificed much time and treasure to start (and keep) your enterprises growing.  Shameless plug: speaking of makers, the gentleman in the photograph happens to be Julius C. Dorsey III, son of Dorsey & Company's founder. He’s a graduate of the School at the Chicago Institute of Art,  artisan and owner of Chicago Fire Furniture, selected Best of Chicago 2019 by Chicago Magazine. Search for him on Instagram @firefurniture.

In honor of him and other small business operators, we offer a few thoughts to consider through the holiday shopping season and beyond.

You can’t be them; they can’t be you. It may sound self-explanatory, but it’s SO true! Small Business Saturday and the holiday shopping season create the perfect opportunity for small retailers to tell the world what sets them apart from the bigs. In other words, brag about yourself and what makes you and your people so special. When you consider what you do, the big operators pale in attention and service to customers.  If this doesn’t describe your service delivery, think again and be all you and your customers want you to be. Repeat business is your reward.

Execution is EVERYTHING!  No matter how much your customers love and support you, you still have to initiate conversation, hear your customers’ needs and fulfill your promise. How do you do this? Emphasize what you do REALLY well, do it – and ask your customers to tell their friends how wonderfully you did it.

Digital tools: the great equalizers. Today’s small retailers have great advantages that their predecessors just a couple decades ago didn’t have: a vast array of digital tools to add to the services that only a smaller retailer can provide.  Options abound in advertising, point-of-sale, inventory, customer data, customer loyalty, security and other digital methods to improve the customer experience . . . and sales.  If you haven’t already done so, seek recommendations for options that work for your business from any number of software vendors. 

‘Rep’ your neighborhood. Be proud of your community and where you operate. Trust us: most of your customers live and/or work nearby!  When appropriate and fitting, cross-promote with a local complementary business – showcasing the unique wares and services offered by you both. We’ve counseled clients on an array of ways to cross promote, and the results have been lasting and impactful. And don’t forget: you offer a location advantage to your neighbors that big retailers can’t — so don’t overlook prospects who live nearby.

After running Dorsey & Company since 1987, we know that owning a small business — especially when you’re up against larger, better resourced competitors — has its challenges. Like many of you, we happen to love what we do and wouldn’t trade it for anything.

To all of us making “small” work in big ways, congratulations for sticking in there and best wishes for a prosperous holiday shopping season! 

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 Founded in 1987, Dorsey & Company Strategic Consultants to Management is a carefully assembled group of more than 50 associates who offer a wide range of marketing expertise to thoughtfully approach every engagement according to its unique competitive and marketing challenges and requirements. The Dorsey & Company approach has consistently yielded favorable results for leading clients in automotive, energy, utility, branded and consumer goods, retail, higher education, telecommunication, government and nonprofit, financial and professional services, health and pharmaceutical, and other industries. Visit here to learn more about Dorsey & Company.