Despite all that is happening around the world, 2021 could be the best time to start your business.
Firstly, there are always going to be challenges, so how can there ever really be a “perfect” year to start your business? No. So don’t miss out on the opportunity to get going because of the fear of imperfect timing. Here are a few reasons why 2021 is the year for your business venture:
E-Commerce at its Peak
E-commerce technology allows entrepreneurs to easily and professionally launch a new business or product. There is no need for you to rent a physical space, the rate of consumer engagement is high, and gathering consumer data and analytics is accessible online.
Our first tip is to develop your own website. It is absolutely essential for every business to have its own website as a means of attracting customers and providing business information5.
We strongly suggest running your business on your own website and selling your products and services from there instead of becoming a seller on third-party e-commerce sites. Selling from your own website allows you to maintain a sense of control over the relationship between your brand and your consumers (as much as possible in an online shopping scenario).
Although the pandemic has negatively affected both physical and online stores, many physical stores have been saved by pivoting to e-commerce during the lockdown and in the long-run, online shopping is predicted to thrive and grow with technology in the near future.
South Africa, in particular, is expected to experience explosive e-commerce growth. Rand Merchant Bank revealed that the e-commerce sector’s value is predicted to surge by 150%, to R225 billion, within the next five years6.
If you are looking to launch your business in 2021, invest in a technology that has been a saving-grace during 2020 and has become the preferred method of shopping for consumers all over the world1.
Online Content Consumption is at an All-Time High
Tough times mean consumers are searching for solutions online. Right now is a prime time for businesses to launch – especially freelancing, developing, assisting, coaching, and retail businesses.
Take a moment to think about what solutions you need, the chances are there are others looking for the same solution online. Now, the trick here is to answer your consumers’ problems – with online content2.
A great content plan should create organic traffic to your company’s website. More and more CEOs are placing importance on SEO content to engage new customers. Young start-ups and well-established organisations have realised the importance of creating original, rich, keyword-optimised content to drive traffic3.
In a time when consumer searches are high, the trick is to be the company that provides the answers – in the form of content. The timing is perfect for new businesses to get their name seen – consumers are searching without having to be aggressively targeted with expensive marketing campaigns. All you need to do is provide or become the answer to their problems.
[Download our free social media content calendar here and begin planning your own content] (Link to the SM calendar blog post)
The Global Workforce
Millions of people lost their jobs because of the pandemic. The majority of these people are still seeking work where their expertise is most valued. This means that for entrepreneurs looking to launch a business in 2021, the range of employees searching for work is large and diverse – due to the necessity of working remotely during the pandemic1.
Working from home means that employees don’t need to be located near the office, city, or even country! This opens the potential workforce to the entire world which also means differentiating salaries with different exchange rates that can keep hiring costs low4.
Additionally, the benefits of hiring remote workers are evident. Research shows that remote workers are significantly more productive than in-office employees. Having a remote workforce also means that having a physical office is not necessary – saving you money on office rent7.
2020 taught us to embrace the fact that so many things are out of our control and to use our time and energy for those things that are in our control. Trust your instincts as an entrepreneur – dive into your business venture when things seem tough in order to ride the wave of improvement and recovery upwards.
Begin scaling your business today by accessing countless business growth opportunities and improvement services. BYOE is a dedicated “business partner in your pocket” for business owners, executives, and entrepreneurs who want to streamline their business services, operations, and processes.