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Essential advice for anyone launching a business in 2022

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26 May 2022

If you are thinking of launching a business in the coming year, then the chances are good that you have spent the last 24 months watching the news from the edge of your seat. The last two years have been an unprecedented rollercoaster with businesses everywhere facing a string of overwhelming challenges. We followed the news stories about companies closing, employees being furloughed, and the constant back and forth about whether we would ever return to the office. Now, after a holiday season that showed us that there were still some unpleasant surprises that could surface, we are all feeling a little bit more optimistic.

Countries around the world are continuing to commit to rolling their restrictions back and we are seeing signs that businesses and the market are bouncing back. If you have been waiting for things to calm down before launching your new business, then this could very well be the right time.

However, starting a company can be a bit of a high-wire act at the best of times. Many different forces are outside of your control, and you need to ensure that you have taken every available step to ensure your success. You will have been on a long journey to reach this point, and you will have done a lot of the hard work by yourself. As you enter this next stage, there will be times when you need to recognise areas that you can work on, and others where you will need to seek outside help. Here are a few tips to help give you the best possible chance of success in the months ahead.

Never Stop Researching The Competition

Every entrepreneur does extensive market research when they are putting together their business plan. This is how you demonstrate to potential investors that there is both an appetite for what your business has to offer, and that there is a gap in the market that your competitors are not catering to.

However, you should remember that this is not a process that ends when your business launches. The market is incredibly competitive right now. Remember that your existing rivals have learned how to operate in this new normal through 2020 and 2021, and that they may well have more resources to pour into their digital strategies. Look at how they manage their online presence and social media strategies. Think about how they talk to their customers and clients in their messaging. Watch for changes in strategy and identify the areas where you could do better and the spaces where you could thrive.

Security Is Paramount

We are sure that the stories about the huge rise in cybercrime attacks will not have passed you by, but cybersecurity is going to continue to be one of the main priorities for every business in the months to come. After the staggering statistics of the last couple of years, we are seeing governments around the world committing to firm action on this issue, but the experts are predicting that we can expect this issue to stick around for some time yet.

You should keep in mind that as a business, poor cybersecurity measures put your customers and clients’ finances and information at risk as well as your own. You should expect to be asked about what steps you can offer to reassure them, and you will need to have satisfactory answers. Talk to an IT specialist about what kind of measures you should be taking and remember that this is an expense that you really cannot afford to ignore.

Keep Looking For Opportunities To Learn

As an entrepreneur, you will have a naturally inquisitive mind and you understand how you can have an impact on the market. However, when you start working on your own company it can be very easy to develop a kind of tunnel vision. It makes perfect sense that you have several different, urgent tasks to focus on that sometimes you forget to lift your head to see how things are changing around you. But if you are not careful, you may step onto the field only to discover that the goalposts have moved since you put together your list of achievable goals.

Things are changing so quickly around us right now, from the technology that we use to do business to the fortunes of our competitors. If you want to make sure that your business is going to be in it for the long haul, then you need to think about how you can proactively educate yourself. Think about how online certificate courses could help you to improve your skill set and teach you about some of the challenges we will be facing. You can enrol on a range of LSE online certificate courses ranging from data analysis to law, policy and regulation. These courses can help you to understand the times we live in and prepare for the future.

Work On Your Online Presence Now

The pivot to remote working took many businesses by surprise, but if you are launching a new company then you will have a great deal of ground to make up online. If you currently have your website and social media channels at the bottom of your to-do list, then you are making a mistake. Remember that we have all been spending significantly more time online in the last couple of years, and that we are significantly more discerning.

You cannot afford to launch a website that you are not happy with because visitors are not going to stick around if it is unremarkable or difficult to use. Think about how you want to convey your brand’s personality, ethos, and expertise. Make sure that you test absolutely everything before you launch so that there are no surprises.

Start working on content to provide your visitors with resources and to demonstrate what you have to offer. Good, SEO-driven content is one of the most effective ways to drive traffic to your website, but you do need to remember that Google regularly updates its algorithm. When it comes to your social media channels, research what platforms your target audience uses most and focus on those to start with. It’s better to have a smaller number of more active channels than several that barely post anything.

 Put Green First

One of the biggest challenges facing every business right now is how to commit to sustainability. Climate change continues to be one of the most important issues and, as we follow the news of how global warming is impacting our world, people are looking to businesses to set a good example. As a new business, you have the opportunity to put your commitment to operating a green company front and centre from the get-go.

Think carefully about any packaging material you might be using, for example. Research potential suppliers and business partners carefully and be confident that they are as committed to sustainability as you are. Remember to promote the fact that you are making green choices as consumers are getting more proactive about checking the policies of the companies that they use. This issue is only going to become more widely talked about and more pressing, so time is of the essence.

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