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94
Inspiration
your clientele by giving your merchants something
wonderful to talk about.
To compete with large organizations, small-business
owners need advice from those they trust on the types
of equipment, programs and value added services that
will give them an edge.
Due to the small size of their enterprises, these merchants
must provide exceptional services, and they will
spread the word if you help them do this.
5. Stickiness
Since they are usually so identified with their businesses,
people operating smaller concerns are likely to
appreciate you more than owners of the larger enterprises
you may serve. The former will be most thankful
for the contributions you make to their operations, and
they will let you – and others – know by being faithful
to you.
And if you serve merchants from the inception of their
ventures, they will be especially appreciative. This sets
the stage for selling value added products and services
with ease because your loyalty is proven, and your judgment
is trusted.
Small is smashing
What are small businesses, and are they really a
significant economic force? Here's the lowdown on
the little guys:
• In the United States, a small business is defined
as a company with fewer than 100 employees;
in Europe, an enterprise qualifies as small if it has
fewer than 50 workers.
• Small businesses make up 50.6 percent of the
nation's private sector workforce and create 60
to 80 percent of new jobs in the United States.
• Small businesses are primarily privately owned
corporations, partnerships or sole proprietorships.
• Microbusinesses, located in homes, make up 52
percent of the small-business market.
• Mom-and-pop stores are single-family operated
shops with few or no employees.
• The Internet has enabled most small retail enterprises
to reach target audiences.
• Women represent more than one-third of the
small-business market.
• Performance apparel, Internet marketing, health
and fitness, technology security consulting, and
services for the Hispanic market are hot spots for
small businesses.
• Sixty-six percent of small-business establishments
survive two years;
44 percent last at
least four years.
• Cost and availability
of health care
are key issues for
small merchants.
Don't overlook the small shops. They may be diminutive
in the business world, but they can generate significant
residuals for you over time.
Liken prospecting in this market to gardening: You start
off with a handful of seeds that appear insignificant. But
in the end, you have a cash crop.