Owning a business is rewarding. You make the decisions, you work when you’re most productive and you can decide how income is divided up. The last year has presented small businesses with challenges not experienced before. The economic impact has been felt throughout the world and many businesses haven’t survived the effects of the pandemic. If you are lucky enough to have got through and your business is ticking over, then hope is on the horizon. Many businesses are preparing for the reopening of society and hopeful to be trading successfully soon. So, how can you prepare for a thriving trade once again?
Team meetings and planning
Many people will be feeling wary and uncertain as the world opens up. Meeting with staff and creating an action plan, will boost morale and help everyone be involved in planning a strategy. Set goals and identify team members that will be best suited to managing timelines and ensuring tasks are on track. Be sure to organise a COVID-19 plan so the team are ready should anything change.
Discussions on how to move the business forward and regain any money lost should be paramount.A shared goal and positive team spirit will help your business recover from this period of time. Trust your team and delegate important tasks to those with the necessary skills. Taking feedback and suggestions from your team will help rebuild the positive culture that was interrupted by the pandemic. A spirit of mutual support is vital for the smooth running of your business.
You may have used lockdown to start a brand new business. With more time on our hands many entrepreneurs have put their ideas to good use and started businesses such as buying and selling furniture, carpentry, garden design or even international car trading. Many have developed skills they didn’t know they had, to start lucrative careers. With most business dealings confined to our homes, many new business owners have struggled to find space to store items required for selling. Cars, furniture and even bulky tools need to be stored somewhere and the guys over at WoW storage offer affordable storage options in a variety of sizes with access available 24/7. Storage units are useful to help separate home from work. Operating all our work-related activities form home can make us feel downhearted and feel like we’re working all the time.
CRMS and communications tools
The right Communication software is essential for staying organised and keeping up to date records of customer details. It’s especially important for successful remote working. An all in one program takes the hard work out of customer acquisition and retention. There are various collaboration tools available such as Zoom, googlemeet, Slack and Webex. However, if you need to store large amounts of data CRMS such as Salesforce is a popular choice to meet business demands. Salesforce keeps everything in one place, making it efficient and reliable.
Many businesses are extending product and service availability beyond their country of residence. The advancement of technology means that global expansion opens up extensive opportunities to market your business. The first step is to make connections. Social media platforms are ideal for connecting internationally. Facebook groups are free to join and great for networking with local communities. You can get lots of information to guide your process. When planning ongoing global trading what should you do:
- Conduct market research
- Make a business plan
- Decide on pricing
- Decide on distribution methods
There is no point in purung global expansion if there are limited requirements for your service or product outside of your home country. Extensive research will ensure you don’t waste time and resources on endeavours better spent elsewhere.
A comprehensive business plan is a no brainer and should be implemented to focus energies in the right place. It can also guide financial elements and ensure business assets are invested in the right places.
Getting to grips with cultural issues and how other countries negotiate finances and pricing, is crucial to global commerce. Be sure to get expert advice, according to the guardian international trading of a service or product is not a simple task and getting it wrong could be disastrous to your business, so getting the right information and advice should be a priority.
Getting the right distributors to grow your market is challenging. Searching for ones that share your goals are more important than those with contacts. Choose distributors with experience serving customer prospects with similar product lines this will help you trust in their professional judgement and you’ll be confident they’re the right people for the business.
Digital marketing has increased in popularity in recent times and is now considered an essential part of business strategy. Consider investing in SEO and help increase traffic to your website. Increased traffic will mean more sales, increased visibility and continuous growth. There are many well-established companies that specialise in content marketing plans that are proven to add value to your existing marketing approach.
Content marketing uses content in many forms to make customer experience more effective and capture their attention. Paid advertising can increase brand awareness and help customers return and again to your website and use your services. Content marketing keeps your product fresh, visible and engaging; it communicates the continuous benefits of your brand and is key in relationship building. Customer focused marketing will help build a loyal customer base, which is the crux of any successful business. There are many cost-effective options out there to utilise; it’s a profitable investment that can reap lucrative rewards, so it’s well worth it.
As the world opens up people will start to move more freely with less fear. Focusing on regaining trust and confidence will help rebuild your business. Encourage your team and explore other opportunities to expand trading. Show a community spirit by supporting other businesses if they supply something you need, and most importantly continue a growth mindset. Life will be buzzing and lucrative once again!