Starting a business is quite the venture to take on. In this hyper-competitive economy we’re in today, it seems like businesses are popping up left and right. As a result, many industries are as saturated as they’ve ever been.
To run a successful business, you need to have strong planning and organizational skills. A lot of people think that once you have an idea for a business, you can just open up a store and start raking in money.
In reality, though, there is an extreme amount of planning that goes into starting a business; for a good one, at least! From the layout of the storefront to the design of the website, to the targeting of the ads, there are an endless amount of things you must consider before you can open up your business.
Before you spend a single dollar, you should have a clear outline of how you’re going to get your business off the ground. You want to feel confident about your product, as well as its marketing before you make any major investments.
According to the U.S. Bureau of Labor, about 20% of businesses fail within their first two years, 45% during their first five years, and 65% during their first ten years. Only 25% of businesses survive 15 years or longer.
We don’t mean to scare you, but it’s wise to have a realistic gauge of your risk when committing to a business idea. It’s also good to be aware of these statistics, so you have an idea of how important it is to differentiate your brand from others.
The key to success is planning. With the proper preparation, it is more than possible to set your business up for success this year. Continue reading below to learn how to help your business thrive in 2022!
Outsource a Call Center
In today’s digital age, providing customer service exclusively through the phone is not enough. More often than not, consumers are going online to deal with any issues they have with a brand.
In 2022, every major business should provide support through the following mediums: phone, social media, live chat, email, and texting for business. Offering every medium of support allows for the best possible customer experience. It also allows your customer service team to handle requests as efficiently as possible.
Phone support should be your first line of defense. For any immediate issues, your company should have respectful, highly competent employees to handle phone requests.
For the highest quality phone customer service, you should outsource an ecommerce call center. This way, you will always have someone on demand, ready to help a customer. You can also save money by outsourcing this service.
Social media support is one of the most popular forms of customer support available today. 72% of the public has a social media profile. Having support agents available through social media ensures customers that they get a quick response for their issues. It also guarantees them to speak to a real person, instead of a bot. Social media support is quickly replacing live chat support and SMS support, though many companies offer all three.
The email agents are the backbone of your customer support team. Though email is losing popularity as a form of communication, it still remains the standard for many businesses. An outsourced customer service team can also help handle email support requests.
Utilize Credit Pulling Services
Another aspect of running a successful business is making sure you’re not getting yourself into any bad deals. One way to do this is to utilize credit pulling services.
There are services today that use credit API technology to pull hundreds of credit reports a day. If your business gives out loans of any kind, you want to make sure the customer or client you’re loaning to will be able to repay it.
These services can be integrated into an existing site, CRM, or HR system. They can also be installed through a custom integration. In addition to making pulling credit reports faster, it also helps keep your records accurate and up-to-date.
No matter what industry your business is in, it is essential to have a firm grasp of your client’s credit. Whether you’re an auto dealer, a bank, a landlord, or a software startup, you can benefit from a credit pulling service.
Hire an Ad Agency
To start a successful business, you need a solid product with great marketing. For countless years, this model has served true for most companies. For instance, when Apple came out with the iPod in 2001, they were able to market a basic MP3 player as a revolutionary device for listening to music.
Today, it is even more essential to stand out with your marketing, with so many different channels to advertise your business.
There are so many different social media platforms to utilize such as Facebook, Instagram, Twitter, TikTok, Snapchat, and more. If you don’t have a huge budget for ads, there are a myriad of ways to market your brand organically through these channels.
If you do have a budget for ads though, you can accelerate your company’s growth significantly. Ad platforms like Facebook and Google allow you to accumulate data about your customers and find new audiences based on this information. They also help optimize your campaigns overtime automatically.
In 2022, one of the best things you can do for your business is to hire a
TikTok ad agency. TikTok is one of the fastest-growing social media platforms to date, with over a billion users worldwide. By far, their algorithm has the farthest reach out of the top social media apps.
Seek Assistance From Others
Nobody can start a business completely by themselves. The process of starting a business can be extremely overwhelming. It can also be isolating at times.
There will be moments where you question yourself; when you ask yourself if all of your efforts are worth it. There will be moments where you feel like breaking. In those moments, it is as important as ever to have a strong team around you to keep you encouraged.
In addition to a strong team, you might also want to seek help from other business owners. Don’t be too prideful to ask for advice. Often, you can receive more valuable insight speaking with an actual business owner, than reading something in a book or online.
You should also get yourself a formidable legal team to help you on your journey. When starting a business, your lawyer is your best friend. They’ll be able to help you plan the launch of your business, navigate all the paperwork, and introduce you to important contacts in your industry.
Don’t cheap out when hiring attorneys for your business. Think of it as an investment for the future. These individuals can potentially save you thousands of dollars on issues within the company.
They can also help you do cool things for your workers like implementing a stock incentive plan. This is a great benefit for them, as it allows them to buy shares of your company for a discounted price. There is also an added benefit of possible tax breaks.
Digital marketing enthusiast and industry professional in Digital technologies, Technology News, Mobile phones, software, gadgets with vast experience in the tech industry, I have a keen interest in technology, News breaking.