Nothing will ever remain the same, not even your weight after this pandemic. Maybe your name will, but that’s beside the point. Everything will change; the entire world will change. The market won’t be the same, but change can be a good thing, right? If you’re a startup, then this can be a very challenging moment for your business.
Many industries took a great hit as a result of the outbreak, and a lot of businesses were affected, some of them took a huge loss while others profited a lot from it, companies like Zoom watched their profit skyrocket in such a short period of time. Managing your business is very crucial during these times, and there are a few steps you can take for your startup to survive in this pandemic.
1) Calculate your risk
First of all, you have to evaluate all the risks the pandemic poses to your business and the losses you’ve already incurred. Calculating and controlling your burn rate at this stage is essential for your business to survive.
You do not want to incur losses at this point because the future of your startup after the pandemic is not very certain, and you have to do everything in your power to keep the business going.
2) Efficient Team Management
Your team is very important to your business. You should encourage team spirit in a time like this, reach out to your team members, make sure they’re doing okay, let them know how important they are to the company and to you.
Most people tend to suffer emotionally during a pandemic, which could be a result of the fear of losing a loved one during this period, at this point, you don’t know what the future holds for you. This makes it important you let them connect with one another even on a personal level, encourage them to check up one another, treat them like your one big family, and build a support system. This helps build their focus and creativity and enables them to work efficiently.
3) Digital Communication
You have to set communication standards and tools in other to be able to communicate ideas with your employees and work efficiently. Despite the pandemic you have to stay productive, not being able to meet in person with your employees shouldn’t limit that.
Companies like Zoom has made communication easy, and you’ll find out that your employees don’t even need to show up at work every day to keep your business running.
4) Manage your Resources
You have to analyze the resources you have and manage them because you don’t know how long the pandemic will persist, so try to curtail your expenses in every possible way and evaluate how to make your current resources last for at least a year.
Make a business continuity plan, and it will enable you to use your resources efficiently. Also, consider cutting down on the number of workers you have so you don’t have to spend a lot on salaries.
Work more with freelancers, that way you don’t have to recruit workers when the outbreak is over. Also, consider some good passive income ideas that can help you make money in these tough times. Starting a website and affiliate marketing for digital products are one of the popular ideas.
5) Promote Innovation
This is a step you have to take seriously. The success of your business lies in innovation, introducing new ideas, and implementing change when necessary, and this helps you stay relevant to society at large.
In order to achieve this, you have to create room for your workers to come up with ideas, hold brainstorming sessions, and support all the ideas they come up with. This makes them feel like they’re active members, which of course, they are. Even when they make mistakes, tolerate them, it creates an enabling environment for their minds to create.
6) Protect your customers
Keeping your customers safe should be your priority. The Corona Virus outbreak has made the demand for Hand Sanitizers high. Even the nose masks people didn’t care about so much in the past.
These are basic things your customers need that you can make available to them. No one can protect your customers for you. They’re the ones that’ll keep your business running. It’s time to give back to them in any way you can. You can make Sanitizers and provide nose masks for them. If they’re safe, then your business is safe.
Just as you’re keeping your customers safe, keep your employees safe too. Cancel all social gathering, let them work remotely, so they don’t have to worry about contracting the virus. Educate them on the essential things they need to know about the virus and how to avoid it.
You can communicate from wherever you are, online schedule meetings, and discussion sessions. Above all, keep yourself safe too. Use hand sanitizer always and your nose mask if there is an urgent need for you to go out. If we can survive this pandemic together, we can survive anything.
How to Develop a People-First Startup Culture
Creating a start-up from scratch is a great way to flex your entrepreneurial spirit and build a business you can be proud of. However, succeeding as a start-up requires more than hard work and a good product. You must become a business leader and learn to get the most from the people you bring into your new company.
Developing a people-first culture is the best way to find and maintain great talent in a small business. Putting your people first can land your top employees and ensures that your team has the desire and motivation to help your vision succeed.
Big businesses are oversaturated with mission statements and “shared values”. These corporate slogans exist for a reason: they help bind teams together and give everyone a chance to share the business’s vision.
As a small-scale start-up, you should develop your own set of shared values and a clear mission statement that guides your business’s culture. These values and mission statements should refer to the way you want to treat your employees as well as the overall purpose of your business.
Creating an employee-friendly mission statement is also an important part of the people-first approach to business. Today’s talented employees know their value and have heard about the employee-friendly treatment that workers at big firms like Google and Facebook receive. They’re looking for employers who offer a clear sense of purpose as well as greater flexibility and excellent work-life balance.
The rise of remote and hybrid work means flexibility is a priority for employees. Your best employees know that they don’t have to sit in an office from 9 to 5 to be productive and will look elsewhere if you try to tether them to a cubicle for no good reason.
Instead of insisting on creating an office culture, you can invest in coworking spaces that save money and give employees the flexibility that they want. Coworking spaces are typically cheaper alternatives for small businesses and give you better cash flow. Coworking spaces also ensure that your employees have the equipment they need and can pack up when they’re done.
When looking for a coworking space, focus on the nuts and bolts first. There’s no point in renting space if it doesn’t have an adequate Wi-Fi connection or enough equipment like standing desks and keyboards. Once you have a list of top locations for your coworking space, focus on the amenities and perks they provide. Some coworking spaces even have deals with local gyms and health clubs that will look great as a people-first employer.
Achieving an appropriate work-life balance should be a priority as a people-first employer. Even if you’re putting in the hard hours to make your business succeed, you shouldn’t expect talented employees to burn the midnight oil to help fulfill your vision.
Insisting on overtime and crunching will only result in burnout and a high rate of employee turnover. Employees with a poor work-life balance have been known to experience conditions like blurred vision, cataracts, low quality sleep, increased stress, joint damage, and cognitive impairment.
As a people-first employer, you should put the health and wellbeing of your employees first to avoid health-related conditions from burdening your staff — even if this means you have to reduce capacity or take on new employees. Trying to expand your operations by forcing your existing staff to abandon their work-life balance is not a sustainable, people-first approach, and will only lead to cultural rifts and employee turnover.
Operating as a people-first business can boost your startup culture and create better buy-in amongst your new team of employees. Highly motivated teams are essential for the success of small businesses, as you rely more heavily on fewer people during your first years. You can help develop a people-first culture by creating mission statements and shared values that promote the well-being of all employees. This should be translated into real policies at work like offering coworking spaces and a better work-life balance.
Tips To Design A Perfect Mascot For Your Startup
Startups must master the art of achieving more with less because of limited budgets and tight timelines. Whatever initiative you pick, you cannot afford to wait forever for it to deliver results. At the same time, you cannot spend a massive chunk of your budget on it. When it comes to marketing, you must choose the right mix of strategies. Mascot marketing is an ideal option as it defines your brand’s personality to make it more recognizable and sustainable. But designing a mascot may seem like an expensive task, considering it requires brainstorming, creativity, and design skills. Let us explain how to create a perfect one within your startup constraints.
Consider your goals
Before you start working on the design and image, you must consider the goals of your company. The objective goes a long way in defining your brand’s personality, which should reflect in your mascot. For example, you need a lively one if you wish to make life fun and easy for your customers through your offering. Conversely, a more professional design works for a startup catering to a business tool.
Resonate with your audience
The simplest way to ace the startup mascot design is by resonating with your audience. Define your target customers and consider their likes and dislikes to nail the look and feel of your mascot. If you plan to sell to a young audience, the personality should be an instant hit with the kids. Identifying your audience gives you a head start as you have a clear view of where you want to go.
Think outside the box
The key objective of any marketing strategy is to set your business apart, and mascots are not an exception. So remember to think outside the box when you design one. It shouldn’t look like any character already in the market. Instead, it should be unique and outstanding while being consistent across all channels. The character should look the same everywhere, whether you showcase it on social media or through Custom Mascot Costumes at a live event. It is the only way to ensure people remember your new brand and connect with it.
Pick the right hues
The colors you use in a mascot’s design decide how well it can stand out. A bland design hardly appeals to the eye, but going too loud with shades is also not the way to go. You can seek color inspiration from your existing marketing assets, such as your logo and theme hues. Keep the market trends in mind and check the competitor designs to pick the right shades to design your ideal mascot.
Name it wisely
Beyond creating a memorable design for your startup mascot, you must give it an easy-to-recall name. You cannot expect people to recognize your brand’s replica in a huge crowd unless everything about it stands out. So your mascot’s name is as crucial as its design and personality. Think of something that connects instantly with your personality and sounds good. Also, stick with a short and simple name.
Designing a mascot need not stress out a startup owner, provided you are ready to follow these rules. Be ready to spend time, effort, and money on this marketing asset because it defines who you are.
Choosing The Best Tech Service Providers: For Start-up Companies
As a business owner, you should carefully choose your IT service provider since it could be one of your most significant business decisions. Your technology partner should be a close advisor on the IT services you need now and in the future.
Moreover, your technology partner should be one that understands your business and industry. So how do you choose the best technology service provider from the hundreds of IT services companies on the market?
Let’s find out.
The first way to get the best IT business is to understand the IT solutions and services since it can help narrow down your options. Every company has its preferences and needs in correlation to its industry.
Therefore you should identify and layout your preferred tech providers based on your needs. When looking for an IT company, it is not only about which service provider has the most services available.
You shouldn’t pick because they offer multiple or several services. Instead, it would be best if you considered the levels of tech support that your company would need, such as an entire managed IT support system, break or fix service, or pay-as-you-go tech support.
Your business or company will grow and operate seamlessly depending on the tech support you will use. A competitive IT service provider would ask and respect your choice between both parties.
Outsourced and in-house IT support services have several differences from one another. This is why you should pick the correct one for your business.
Like the name, outsourced IT support is ideal for companies that cannot support the additional associated costs of having IT experts residing in their company. Outsourced IT service providers are usually called Managed Service Providers (MSPs).
You may ask, what is a managed service provider and do you need one? Well, a managed service provider (MSP) is a third-party company capable of remotely managing your end-user systems and information technology infrastructure.
Small and medium-sized businesses (SMBs), startups, government, and nonprofit agencies usually hire MSPs to perform defined day-to-day IT problems and management services.
On the other hand, as the name implies, in-house IT support is composed of IT experts who will work inside your companies and be assigned to your company’s IT department.
You should ensure that your preferred or chosen IT service provider provides tech-related assistance to your company. Ensure that they do not have insufficient experience, expertise, or knowledge about your industry since it could be a massive risk to your company’s operation.
It would be bad to make the mistake of hiring inexperienced service providers in your industry. They would do more harm than good though they might have an impressive overall review or rating as a service provider.
Quality support should not end with solving a problem. A good tech service provider would be proactive in monitoring systems to ensure issues are stopped before they start.
When they monitor and practice conditions maintenance, your tech service provider would be able to keep minor problems from becoming large and affecting your business productivity.
It would be best if you had a proactive tech service provider, but your business might also need a reactive tool to handle your day-to-day IT problems such as network connectivity, phone issues, printer problems, cloud issues, and computer problems.
As a startup or a small company, you should consider your budget before choosing a tech service provider. Though all budgets are not equal, this does not mean that you should skimp on quality for cost. Instead, a good tech service provider would help you identify and budget for services to help your business succeed.
Lastly, ensure that you choose a tech service provider capable of establishing good communication platforms accessible to both parties. You have the right to know what happens behind the scenes as their client and also get involved in monitoring your tech systems.
You can efficiently handle this by establishing a communication channel that is convenient and favorable for both parties.
Excellent companies are differentiated from bad ones by the integration of IT support. In the current era, you must manage your business data process and information in an organized, efficient, and smooth way.
Moreover, you can achieve this by collaborating with a tech service provider. When searching for the best tech service provider to solve your business needs, the above guide will help you with that.
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