Once upon a time, people believed that the American Dream was theirs for the taking if they were ambitious and worked hard.
Today, the harsh reality is that the small local business has been devoured by the corporate giant, and that within ten years of start-up, only a small fraction will have any likelihood of living happily ever after. The reasons for this are many and complex, but most often, small business failure is the result of insufficient resources and financing, when compared to its corporate competition.
One of the key factors contributing to this inequity is the cost of customer retention. National chains such as Home Depot have access to comprehensive customer databases and house advanced technological infrastructure, utilizing e-commerce to maintain consistent lines of communication with their customers.
Small businesses are at a distinct disadvantage in this regard because the cost and maintenance of these technologies are prohibitive. There is no panacea for the many problems faced by the small business, but there are viable and immediate remedies available that will greatly improve their ability to not only survive but to also prosper in the market place.