The Walmart Effect →
A nice article by the Intuit Small Business Blog. The tl;dr version: when you encounter a bigger competitor, don’t freak out and offer something they don’t (or better: they can’t).
Way too many small and medium businesses try to compete with the big players with the same products, the same services and sometimes even the same strategy — and wonder why they are struggling. A SMB will never be able to compete on pricing (no matter whether you offer products or services). Ask yourself a simple question: what exactly can you offer what your competitor, large or small, can’t provide?
