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They say fortunes are made during recessions. While this is certainly a terrible time, it doesn't necessarily mean that you can't protect yourself, and your family, financially. With everyone having a lot more time on their hands, many are finally starting the entrepreneurial journeys they've always dreamed of.
This is can be great for confidence levels, and it's certainly a productive way to kill time, but with statistics showing that even pre-recession, the vast majority of startups fail within their first few years, it's important to get things right if you want to prosper. That's why we've put together this list of steps to take if you're launching a business after the 2020 pandemic.
With employees getting used to working from home, and restrictions likely to be in place for a while longer, there has never been a better time to look into serviced office suites. Not only do you get the major savings and professional front that this type of service has always provided, but you'll also benefit from the flexibility to easily sort out rotating staff schedules, while someone else looks after cleaning and compliance.
Even if you don't need staff physically in the office, you'll still have a premium address to list for your business and a sanitary place on hand if you need to host a meeting – two major factors in how your company will present to the world.
Digital marketing has been receiving a fair chunk of budgets for a while now, but post-pandemic, it will dominate. At the very least, you'll want to make sure you've got a website with solid SEO and consistent branding across all relevant social channels, but to really flourish you'll want to take things a few steps further.
Informative opt-ins are a great way to get people onto your mailing list (and into your sales funnel), and blogging for business is the perfect way to showcase your authority and engage with your audience.
Generosity Is Value
The influx of new businesses you can expect post-pandemic should support our economies through the fluctuations we’re currently facing, but it also means that you're going to have to fight twice as hard to be heard and remembered. Promotional products that actually serve a purpose within your customer's lives are a great way to do this. Send them out as freebies with orders or to say thank you to partners.
Not only will people appreciate the gift, but you'll also invoke the law of reciprocity and score some free marketing to their acquaintances. This means they'll be more likely to buy from (or partner with) you again in the future, and you'll also have a higher chance of converting their friends and family.
Get Things Right The First Time
Now you've got your office and promotions sorted, it's time to lock in all the nitty-gritty that comes along with running a business. You've probably already established a lot of the processes you'll need, but now is a good time to refer back to your business plan and ensure that you sort out anything that didn't flow along nicely while you were working on your supply/distribution chains and the steps above.
Obviously, starting a business can't be boiled down to four simple steps, but as the tips outlined in this article are often overlooked, we decided they were the best ones to highlight for you today. Get these ticked off, then go show the world what you're made of.