There is no doubt COVID-19 has taken a toll on businesses across the country. Large and small, Wall Street to Main Street, everyone has been affected by the pandemic. However, out of this seemingly dire situation, we have witnessed firsthand a renaissance of entrepreneurial spirit as millions of Americans seek to venture out on their own as business owners.
As a company whose mission and purpose revolves around the success and growth of micro businesses (businesses that have fewer than nine employees), we have been amazed and inspired by the tenacity displayed by the nation’s entrepreneurs during this unsettling time. Throughout the pandemic, we have seen more and more micro businesses form as many Americans reassess their professional goals and step out to hang their own shingle in the business world.
When I started my entrepreneurial journey 30 years ago, valuable time and money was spent searching for what I needed to start and run my own business. Even today, there is seemingly an endless array of factors to consider as you get on the path to entrepreneurship. Things like company name, tax advice, website design, and marketing tools are just the tip of the iceberg of what you will need to turn your business dreams into a reality.
As intimidating as it may seem, we are encouraged by the sheer volume of budding entrepreneurs that we have assisted in their journey to business ownership. In fact, our customer base has doubled since the onset of the pandemic as more micro businesses take hold.
Tips for business owners
Starting a business can be stressful, intimidating, and hard. ZenBusiness helps alleviate these pain points by providing the tools and resources entrepreneurs need to not only start their businesses, but to make their first dollar and become successful. The following are some tips and tricks I think every entrepreneur should know as they take that first step towards economic independence:
- Be honest: Is your service or product something the public really needs? Are you being transparent with what you offer and how much it costs? I have experienced that most businesses fail because the business owner isn’t being honest to themselves or their customers.
- Having a website presence allows businesses to make more revenue in their first year. ZenBusiness customers who have created a website after signing up earn an average of $15,000 more than those that don’t yet have a website.
- When starting out, use 100 percent of your time, energy, and funds to find and know your customer. This is critical for surviving your first year.
- While having a competitive price can get you in the door, the real clincher is providing greater value and more services. Simply put, do more for your customers than you’re asked or expected to.
- Find a mentor and ask questions: Seek out educational opportunities that will help you manage and grow your business.
More than 2 million Americans have started freelancing in the past year, and roughly 60 percent of those individuals say that no amount of money would convince them to take a traditional job again. The pandemic has drastically altered the business landscape and we wholeheartedly subscribe to the fact that this trend is here to stay.