You're probably stronger than you think. You're probably better suited to compete for customers than you think you are.

Humility doesn't exactly abound in our culture, but I think many business owners sell themselves short. They see themselves as outmanned, outgunned and underqualified versus bigger competitors. But they're not.

Local banks and credit unions can often make a better case to customers than big regional or national players. Independent jewelers can differentiate themselves very believably against "the mall stores."

There are opportunities like this in almost every industry.

Owner-led businesses can respond quicker -- like now. As soon as an idea is ready, they can implement it immediately. No corporate approval needed. No passing it up the ladder to the franchise marketing department. This autonomy is the ultimate business version of "just do it."

Some built-in advantages follow the simple fact that you're local and in charge. What moves can you make that your larger rivals aren't flexible enough or fast enough to match?

Labels: management, marketing, planning, strategy