Article by: Cameron Ward @ bizwealthbuilder.com
If you’re thinking of starting a business, it might surprise you to learn that now’s a great time to dive into entrepreneurship. Although it’s unfortunate that many businesses haven’t made it through the pandemic, as things open back up, there is room in the market for new enterprises. As a result, many experts believe we will see the rise of the COVID-preneur: brand-new business owners inspired by market need and pandemic-induced priority shifts.
Although the market is ready for new business, this wave means you need to make the right moves in order to stand out. Illuminata Consulting is proud to offer the advice business owners need to reach their dreams. Here’s a look at some of the best techniques for making your business thrive in the post-pandemic world.
Use the Right Business Structure
One of the most important steps business owners need to take is making sure they’re using the structure that’s right for them. For COVID-preneurs, limited liability companies, or LLCs, have a lot to offer. For example, they create a layer of legal separation between your personal and professional assets. This empowers you to seek the funding you need to get going without worrying about losing your home or life savings.
Moreover, LLCs can help build legitimacy for your business. They prove to customers that you take yourself seriously enough to invest time and effort into getting your business started. Moreover, registering an LLC requires a unique business name, so you can be confident you won’t get mixed up with some other business — or worse, funnel customers their way.
Finding Funding
Some businesses need substantial start-up costs in order to function. Unless you happen to have that money lying around, odds are you’ll need to find some kind of funding. Start by looking into COVID-19 loans and grants for businesses. Your area may be offering affordable funding to hopeful businesses in order to restart the local economy.
If that doesn’t prove fruitful, reach out to banks and investors. Before you agree to any funding agreement, however, work with a lawyer, financial advisor, or business consultant to make sure it’s a good deal. Some payback agreements have finicky details such as early repayment fines or interest increase schedules that can make bad moves for your business, even if they look great from the start. A trusted expert can ensure you’re making the best choice for your future.
Invest in Digital Engagement
Finally, any new business needs to make sure they’ve invested well in digital engagement. In our ever-connected world, customers are increasingly unlikely to trust a business that doesn’t have a functioning website. Moreover, they may not even be able to find your business if it doesn’t have a decent presence on social media.
The great thing about digital marketing is that you can come up with a plan to suit any budget. If you have a lot to invest, you can pay a marketing agency to handle this on your behalf. Alternatively, you can hire a marketing employee who can focus on just your business full-time. There’s also plenty of opportunities to DIY this work.
For example, if you’re a confident writer, you can keep a regular blog and create search-engine-optimized content that boosts your odds of showing up in customers’ online searches. Even something as simple as regularly posting and engaging with customers on social media can make a big difference for your business.
Starting a business can be a fantastic way to take control of your career and commit to your goals in the wake of COVID-19. We hope this article helps you come up with a solid game plan so your business can rise above the pack and last for the long run!
Need more specific advice to reach your goals? Contact Illuminata Consulting today! You can call (408) 463-6892 or email info@illuminataconsulting.com.
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