Proprietors of smaller businesses may assume that they will never be able to compete against the larger corporations. We hear news all the time about the Walmart effect and how mom-and-pop shops always suffer when a Walmart moves into town. They assume that these smaller businesses cannot fight against the lower prices offered by the “big boys.”

While it may be true that these smaller stores cannot offer the same kind of pricing advantage as their larger, multinational counterparts, small businesses can still compete in other ways. In fact, it’s almost a little ironic that Sir Richard Branson, one of the richest men in the world, still takes on a small business mentality for the various arms of his corporation. Virgin Airlines, for example, is much smaller than British Airlines.

How has he been able to achieve the level of “small business” success that he has? Branson says that you must “use the strengths of being small” to fight off the intruding big business. Smaller businesses usually offer a more personal approach, because they tend to value each individual customer more. Depending on the side of the business, they may even know each individual customer by name. This more personal level of customer service can be a huge advantage, as can the greater loyalty that employees may have for their smaller employers.

Further still, small businesses tend to be more nimble. In order for any major changes to occur at a larger corporation, they must fight through all sorts of bureaucratic red tape, executive meetings, and widespread deployment. A smaller company can make bigger changes more quickly, simply because of its smaller scale.

Just because your company is smaller does not mean that you cannot achieve Branson-level success. You just have to use your strengths to your advantage.