A business launch takes a huge amount of time, effort, and planning, so for most entrepreneurs, plans usually stretch months if not years into the future. Such measures are entirely sensible; taking the time to ensure everything is in place prior to launch and that the business will be starting off on a strong footing is absolutely advantageous. However, for those planning to launch a business in the latter half of 2020, the landscape onto which they planned to launch has now suddenly changed beyond almost all recognition.
The impact of coronavirus
Much has been said about the impact of coronavirus on businesses, even with many country’s governments doing all they can to shore up support for companies. What’s more, the problems look to be far from temporary, given the scale of the recession that most financial experts seem to predict.
The vast majority of the focus, however, has been dedicated to established businesses; very little has been said about the fledgling businesses that were still in the planning phase at the time of the coronavirus outbreak.
Unfortunately, businesses in the early phase of life face the same challenges as established companies - and more still, given they do not have name recognition or an established customer base to lean on.
So is cancelling a launch the only option?
Many prospective business owners may assess the ongoing situation and assume that there is little point in opening their business under the current circumstances, and shelve their plans with the intent to wait for better times.
However, this doesn’t have to be the case. While businesses connected to the most affected sectors - such as travel and hospitality - could potentially benefit from a delay, other businesses remain viable even in difficult times. In fact, some aspects of launching a business are easier during difficult economic times: borrowing, for example, is cheaper than it will ever be, high fluidity of employment can mean businesses can attract great candidates to roles, and commercial rents can be cheaper if there’s a sudden surplus of properties as a result of a recession.
As a result, unless a business idea is in one of the industries that have been particularly impacted, moving forward with a business could still be worthwhile.
Quick tips for getting it right
If you decide your business is still viable for its launch this year, here are a few tips that can help everything goes smoothly:
Launching in 2020 is certainly still possible for many businesses, and the tips above can help to ensure the venture is as successful as possible.
Every business goes through changes, and every single business plan that’s ever been drawn up has undergone revisions. Indeed, in the working world, change is a great thing, and can ensure a company goes from strength to strength as its lifecycle goes on.
So, if some things need to be changed within your business, it’s time to take a step back and think about them. Some changes for the benefit of the long term could be made here, and you could really make a difference to your company. Here’s some ideas to start thinking about.
Think About Your Company Culture
Company culture makes or breaks a business. You and your employees need to be able to trust one another, and transparency will always be key. Most of all, company culture is something that needs to stay positive and free flowing; even just one toxic person within the company can mean the entity of your workforce is feeling the negative effects.
You also need to think about the goals you set as a company - what are you working towards? Can you see the effects of your results? And could some more attainable, real world goals be set to ensure your workforce are feeling moralised?
Consider Proper Communication Tools
Communication is essential in a business environment, and even just a single mixed or dropped message can mean the whole work day goes to waste. Of course, you have private messaging, and software like Zoom or Microsoft Teams, but are they doing enough for you? And are they secure enough to make use of in the long term?
You could think about setting up your own intranet for use within your company; something only you and your employees have access to, and can only be used for work purposes. It could be a great way to keep people on task, and it’s one of the most flexible forms of accessing a digital workplace, as well as safely and securely share messages with one another.
It Might Be Time to Look into Fleet Options
Of course, your company is getting bigger and bigger, and because of that, it might be time to think about time constraints. One of the main problems you’ll be dealing with is commuting - people needing to get to and fro from the workplace, in a timely and representative manner.
Not to mention the amount of delivery you’ll have to cope with on your own too; you’ll need a vehicle or two that’s capable of ferrying a large amount of items wherever they need to be. It’s why plenty of Van Offers are circulating right now; usually you can get a discount on a model if you’re buying on a business expense basis, and this could very well be the start of your own company fleet.
Planning business changes can occur in both the intangible and tangible sense; if you need a better working environment, or a way to get to work, you can make that change.
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Good Work-Life Balance
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A Company That Promotes Health
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Having Progression Opportunities
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Working With Decent Coworkers
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Author - Chris
Author, Editor, Creator of this website.