Many business activities are hampered. There are even businesses that have been forced to close due to the economic impact of the spread of this virus. Not a few business people have to make difficult decisions about the future of their business.
With all this uncertainty, you might ask: Starting a business in the midst of a pandemic? Not wrong? You may feel that starting a business when other businesses are in trouble is a crazy idea that is too risky. But make no mistake. In the midst of this situation, several types of businesses are growing rapidly.
Many of the giants today were created during the recession, such as Uber, Whatsapp, Instagram and Slack. As with the current conditions, there will be many innovative businesses that have sprung up from the Covid-19 pandemic.
With the changing habits and lifestyles of many as a result of this pandemic, many new opportunities have emerged. However, starting a business in the midst of a pandemic certainly has challenges and risks. Therefore, you must be really prepared before starting. Here are some strategies you can do to start a business in the midst of a pandemic.
First Check the Financial Condition
The very first thing you have to do or check your financial condition. Starting a business certainly requires capital. For example, because now the most possible business is an online business, it means that you need to spend capital to create an online store website.
If what you want to sell is a product, then you must have the capital to buy the product and then save it. Apart from that, of course you also have to spend some money to market your business.
Therefore, make sure your financial condition is ready to start a business. Make a budget and a budget that you will spend roughly to start with, then check whether the amount of your savings allows you to implement it.
Market Opportunities & Needs Analysis
The next step is to conduct a market analysis. According to statistics, the percentage of online shopping is now increasing. People’s needs also shifted. People start to try new hobbies, develop new habits, and so on.
Health and sports products for example, sales have increased rapidly in the last few weeks. Besides, people today are not afraid to try new brands either. Now, this is clearly an opportunity to innovate, right? If you want to start a business, you should focus on the types of products or services that can be purchased online. In recent weeks for example, sales of health and sports products are on the rise.
However, don’t stop at just capitalizing on trending products. Modify your business again to fit the market you want to target and evaluate it regularly so that your business can last in the long term. In order for your business analysis to run well, use software that can help your business, for more information click here lcs agency in a box
Set Clear Goals
Determine specifically who the target of your business is. It’s impossible to target your business to everyone. What is there, your business will not have a focus. By having a clear target market, you will be able to formulate the right planning, strategy, and approach.
If you already know what business you want to create but are still confused about which target market you should aim for, try to write down who are the competitors of the business you are going to create then analyze their target market. From there, you can get an idea of who your target market is as well as find out what innovations you can offer that your business competitors don’t yet have.
Consider Supply Problems
If what you are selling is a product, this one thing is very important for you to consider before starting a business. There are several products whose supply has been hampered due to this pandemic. Especially if the product comes from abroad.
So, find out in advance whether the product that you offer the supply will not be hampered. For example, if you want to start a catering business, first make sure that the supply of raw materials can be fulfilled every day. Don’t get the order, but the product is empty.
Look for Quality HR
Currently, many companies have started laying off their employees. This can be an opportunity for you to find quality human resources to help you run a business. The quality of human resources is important for the long-term sustainability of your business. Whether your business is good or not in the eyes of your target market can be determined by the quality of the human resources you have.
Provide the Best Customer Service
The quality of customer service is very influential on the smooth running of the business. If two businesses are exactly alike, the one with good customer service will survive. If you can provide good service well, then customers will not hesitate to recommend your business to the people around them.
Under these circumstances, it may be that larger businesses take longer to process customer requests. Or they may be more difficult to contact. By providing better service, you can attract the hearts of big business customers and make them your business customers.
Maximize Online Presence
Since most people do their shopping online, online presence is very important in building a business. So, make sure your business is easy to find online, from social media to online shop websites. So your potential customers can easily find what they are looking for.
Make sure your social media profiles and the appearance of your online store’s website look neat and professional so potential buyers don’t hesitate to take further action. Having a responsive online selling website is also very important so that potential buyers are not confused when looking for products. Write a description of your business and each product so that visitors to your online sales web will know what to buy.