Tips For Start-Ups Trying To Survive The Pandemic

by Startacus Admin

Starting a new business is a daunting experience, but if you created yours early in 2020 or at the end of 2019, then you will now be facing even tougher conditions than usual.

That’s because the Coronavirus pandemic has caused economic chaos and left many companies struggling to stay afloat.

This unique situation makes it even harder for start-ups to flourish, and they already have the odds stacked against them. Every year as many as 90% of start-up companies fail, but that doesn’t mean that your new company has to be one of them. Read on to find some practical tips to help you survive and thrive in this unique business environment.

Grow your Online Presence

The pandemic has forced many businesses to operate online and provide their services remotely. As such, now more than ever, it’s vital that you have a strong online presence. That means creating an engaging website and promoting it using social media platforms, content marketing, technical SEO techniques and more.

If you’re struggling to find the time to get your start-up’s website to the top of search engine results pages and under the noses of your target market, then working with experienced digital marketing experts can be a good option. Make sure to choose wisely and to take the time to look into their previous experience and case studies. For example, Devonshire based RFS Marketing use their online case studies to give you a quick snapshot into the end product that they can create. An agency like this can help you to grow your online presence quickly, and get you noticed amid the sea of competition you have on the internet.

Be Considerate And Understanding

The pandemic has upended almost every aspect of everyone’s lives, so it’s crucial that you try to be sympathetic to this. Try to be understanding with your suppliers, customers and staff alike, and work collaboratively with them all to keep your business going.

Their safety and happiness needs to be your paramount concern right now, so you need to be flexible and adapt to the needs of all of your stakeholders. Take advantage of any Government schemes, such as the furlough system, if you need them, to make sure that you’re able to support your team and keep your customers happy.

Adapt Your Offering

You might have only just started to offer your products or services, but the world in which you’re operating in is very different now than it was when you started your business. As such, you need to adapt your offering to meet the evolving needs of your customers.

Try to offer your services online, using video conferencing services to communicate with clients. For product-based companies, arrange for your products to be posted to clients, or deliver them using ‘no-contact’ drop off services. This approach will allow you to continue to serve your customers even as the world evolves and adapts around the spread of this potentially fatal virus.

Adjust Your Targets

The first-year predictions you made at the beginning of your entrepreneurial journey will mean nothing now, as the market you’re working in is now completely different to the one you thought you were going to be entering.

As such, you need to adjust your targets to make them more feasible. You might also need to revise your business plan so that you have a complete overview of exactly how your business ideas have changed since the pandemic began. Once you have an updated, achievable set of targets for your company, you and your team will be able to work towards them and drive your business towards success, even if it is less impressive than you’d originally planned.

Surviving the Coronavirus pandemic, and any future challenges that come as a result of it, might seem impossible, but for many, it won’t be. The important thing is to work hard and adapt quickly to the latest developments. Use the tips in this article to boost your chances of staying in business.

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Published on: 8th May 2020