Starting a new business has always had it’s challenges, and now with the added challenge of lockdown during COVID-19, starting a new business or project can be daunting. This however, hasn’t deterred many hopeful entrepreneurs who despite the added hurdles have decided to go ahead and start their new business. This could be for a number or reasons, including retrenchment. According to a recent insight posted by the NYTIMES, the pandemic may be the right time to start a business with the right idea.
Here are a few tips to get you started:
Adaptability is key.
We’ve heard phrases describing the “new normal” and what life is projected to be like after the pandemic. However, we can only project and analyse these statistics based on the information we currently have available. The ability to adapt your business to new changes is the key to thriving during ever changing circumstances. Setting up a business structure that supports the adaptability factor is the difference between just surviving and thriving.
Listen to your target market.
With potential clients focusing their energy on saving money and staying safe, pushing products onto clients that aren’t necessarily deemed a necessity may not be the best idea to get your business on track. Aggressive and expensive marketing campaigns won’t work if your products don’t serve an immediate purpose or solve a current problem. Understanding your target market better by finding out what their immediate needs are is crucial to generating sales and gaining leads. This doesn’t necessarily mean niche markets don’t do well, by simply adapting their business model around clients needs, they are able to thrive. Doing surveys directed at leads and clients and actively listening to their immediate needs with the intent of providing a service that solves those needs is key.
Online spam and scams.
While it is essential that your business is online, whether simply having a contactable email address and viewable website or a fully functioning e-commerce store, clients are now becoming more wary of online scamming and spamming and avoiding businesses that seem suspicious by the impression of their marketing campaigns. While you as a business owner should be aware of scams, you should also be aware of the impression you make when marketing your own business. Watch out for comments made on ads and view them objectively, this will determine how well you’re presenting your brand to the world.
Sending well wishes to all.
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