Small businesses face particular challenges. Small businesses can face tighter cash flow, tougher access to capital, smaller budgets, and fewer specialized personnel. Often, people working at a small business are expected to take on several roles—some for which they might not be ideally trained.
The competitive marketplace does not, however, give small businesses a free pass. Small businesses face the same market challenges as their larger counterparts—how to best differentiate, who is the ideal customer, and what is the core meaning of the brand. Addressing these fundamental brand development questions is just as important, if not more so, for the small business.