2020 was a challenge for most of us. Our economic foundations were shaken, and the world we knew changed forever. But, we’re not going to let something like a pandemic stop us from engaging in the American dream. If you share these sentiments and are ready to become a business owner as we emerge into the New World, read on for a few tips on how to make your business a post-pandemic success.
Understand the challenges. Starting a business means facing obstacles. These may include everything from coming up with unique products and services to writing a strong business plan. Before you get up and running, take some time to write down possible hurdles and have a plan in place for how you will overcome them.
Have the right tools. No matter what type of business you choose to open, you have to have tools of the trade. If you’re into concessions, for example, Arete Shoppe Food Trailers & Carts offers stylish and functional food carts and trailers for all budgets. In this example, you also need excellent signage and the right cookware and utensils.
Get your permits and licenses. Anytime you serve food to the public, you must have licenses and permits. Requirements vary from state to state, so do your research first. In Tennessee, for example, you’re required to have a business license, a signed agreement, and a floor plan for your mobile food establishment.
Protect your assets. All businesses have assets. This is anything from physical property to proprietary processes that you would rather keep shielded from the competition. Protect your assets by insisting that employees sign a noncompete and/or non-disclosure agreements. You can also register as an LLC, which requires that you choose a business name that is both memorable and unique. You can save money on the LLC registration process by finding an online formation service. As an LLC, you’ll also enjoy the tax advantages, and all without a mind-boggling amount of paperwork.
Raise money. Very few businesses can be started with nothing. Because of this, you’ll want to have the money in place to operate and pay your own personal bills throughout the first weeks and months that you’re up and running. Start by looking for grants and loans. However, you’ll also need to master your own budget, which Better Money Habits by Bank of America asserts involves setting goals and adjusting your spending habits.
Perfect your marketing strategies. There is no one-size-fits-all way to market a small business. But, a good place to start is on social media. Get the word out that you're ready for customers by hosting a grand opening or open house. You might also want to get creative with innovative grassroots marketing techniques. No matter how you choose to market, Wordstream suggests focusing on your digital strategies, such as verifying all of your local listings, creating a blog, and keeping your social media at the top of your priorities list.
Background check employees. While it’s often considered discrimination to exclude convicted felons from a job just because of a criminal record, you also have to do your diligence. As a business owner, you do have the right to forgo employees whose convictions would be in direct conflict with their role in your company.
In a post-pandemic world, you have to make decisions that will better your business. While this is certainly not a comprehensive list of obstacles you may encounter, the thoughts above can serve as a jumping-off point as you get your business started. Perhaps most importantly, you have to be adaptable. We have seen firsthand that the world can change in an instant, and being able to change with it will get you through the next global disaster and beyond.
-Chelsea Lamb