Businesses Are Going Virtual: Here's How Players Like Success Financial Team Are Building Online Businesses

Businesses Are Going Virtual: Here's How Players Like Success Financial Team Are Building Online Businesses

You might not think that the past two years were an ideal time to start a business—but you couldn’t be further from the truth. In the United States, more than 4.4 million new businesses were created in 2020. This number starkly contrasts with our perceptions of business in 2020, as news headlines flooded with stories of stores closing their doors for good. 

These new business owners, sometimes dubbed “Pandemic Entrepreneurs,” have something to teach us about what is truly stopping people from launching into entrepreneurship. In fact, times of economic difficulty are usually marked by an increase in entrepreneurship. So what is stopping people from starting their own company during financially prosperous times? Perhaps it’s comfort, stability, or a sense of predictability. Maybe it’s simply an issue of not feeling like you have enough time. 

This all changed last year. We learned that many of us can do our jobs from home, which promoted a healthier work-life balance and cut down on the stress of long commute times. But it takes the right tools and advice to successfully run a business from home. 

Define Your Audience 

One of the most important steps you can take is to clearly define your business idea and determine your audience. Lots of companies get lost trying to be all things for all people, which ends up having the opposite of its intended effect—without a distinct voice and audience to speak to, your company can easily get lost in all the noise online.

If you’re starting an entirely online business, take extra time to get to know your audience. Use polls, surveys, and similar marketing techniques to know what their likes, dislikes, and preferences are. Once you’ve collected enough zero-party data (data the customer intentionally shares), you can begin to determine who your most loyal customers are and better suit your offerings for their preferences. 

When In Doubt, Over Communicate

Between all of the digital platforms we use today, it’s easy to think that you are communicating clearly and effectively. But sometimes, Slack messages get lost in the shuffle and emails go unread. Businesses—especially those in their beginning stages—must prioritize communication in order to be successful. 

The companies that excel at communication will remain a cut above the rest. One, in particular, launched their fully-remote business, Success Financial Team, in October 2020, and since they specialize in consulting businesses toward improved performance, communication is a core part of their strategy. 

They understand that a fully-remote business opens up a world of opportunities, and they use their marketing and business development services to help customers take advantage of a remote working world. Putting robust communication systems in place to support these opportunities is the key to long-term success. 

Invest in Digital Tools 

A collision occurred in March of 2020 between those who quickly adapted to fully remote work and learning and those who would not. 

We know by now that those who swiftly onboarded online systems stayed in the game while others fell behind. This is of the utmost importance to entrepreneurs, who must consider every tool and technology available to determine which ones will help them seamlessly run their business. 

It might be difficult, at the genesis of your company, to allocate finances toward these tools. But remember that in order to stay in business, you’re playing the long game. Invest in tech that will give your customers a more seamless experience in order to ensure their repeat business. 

If you’re looking to get into entrepreneurship, the time is now. There’s never been a better time to pursue your entrepreneurial endeavors in your off time from the comfort of your home. Use the current business climate to your advantage and invest in digital tools and resources to help your new business see success

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. The content was purely for informational purposes only and not intended to be investing advice.

Image Sourced from Pixabay

Posted In: Partner ContentZen MediaGeneral