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Starting a Business in 2020? Here’s a List of Tips You Need to Know to Beat the Virus and the Competition

Starting a Business in 2020? Here’s a List of Tips You Need to Know to Beat the Virus and the Competition

Thinking of starting up a business in the post-pandemic era? If you are, the new climate is going to feature a lot of changes, so it’s important to be informed, flexible, and above all else, prepared. Here are five tips that will help you start up a successful business in the post-pandemic era.

Learn About Operating a Business

This may seem like a no-brainer but now is not a great time to take unnecessary risks. If you’re relatively new to being an entrepreneur, you may want to take this time to educate yourself about customer engagement, human resources, and management with online courses.

By educating yourself on owning and operating a business, you can develop a comprehensive plan that will allow your business to thrive and protect you and your employees in case of an emergency.

Be Realistic About Your Service/Product

It’s essential to understand your product or service inside and out. However, now more than ever, it’s especially important to ask yourself about what need your product answers. If your product is just a repeat of several others on the market, starting a business in the post-pandemic may not be the best choice.

A lot of people’s budgets have become a lot tighter. As a result, they may not be eager to purchase products they don’t need or can get cheaper elsewhere. You’ll yield far better results if you adapt your product or service to ensure that it actually serves people’s lives. You can do this with the product itself or even with how you write about it and market it to people. It’s up to you to make your business essential.

Expand Service Options

Businesses that could only function with face-to-face contact with customers have been hit the hardest during the pandemic due to quarantine and social distancing requirements. This includes bars, local restaurants, independent clothing stores, and much more. That’s why expanding your service options is essential for the post-pandemic era.

Omnichannel sales will open you up to new ways of making money, whether it be through online sales, door to door delivery, or anything else that makes sense with your business model. This will also give you far more security in case something like this happens again and one of your streams of income is taken away

Establish a Digital Brand

A critical aspect of expanding your service options is to ensure that your new business has a digital presence and a digital brand. Though it’s necessary to be online in this digital age, just having a website and a few social media accounts isn’t enough.

Having an online identity that potential customers can associate with your business goes a long way, especially if you don’t want your business to rely on meeting people face-to-face. Make sure that you have an appropriate logo, are putting out articles, emails, and other content regularly, and that everything you do is search engine optimized. This is an easy way to set yourself apart from any potential competitors

Be Prepared for Anything

Unfortunately, pre-pandemic, many businesses had little to no reserves put away in case of emergency. Many also didn’t have a plan regarding what to do for themselves or their employees in case of a pandemic.

While it’s totally understandable to have not seen this coming and to have not had a plan for it, post-pandemic business owners should be more conscious of these potential situations. You’ll sleep much better at night knowing that you have sanitization equipment and protective gear tucked away for employees, multiple streams of income, and an emergency fund in your budget just in case.

Admittedly, much of the “post-pandemic world” is yet to be seen. Still, these five tips are a great place to start for any entrepreneur looking to start their business in this new and unfamiliar climate.

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by Brian Perry // Brian Perry is a contributor to Businessing Magazine.

Opinions expressed by contributors are their own.