A business strategy is basically a document and plan mentioning how a company is reaching out in attaining its business goals. Therefore, these strategies include different types of principles, which outline the ways in which the company can reach its goals.

How do we develop a business strategy for any business?

1. Marketing.

Marketing strategy is all about considering the resources available to the company and finding a way to make sure to deliver these strategies in the most creative way possible. The popularity of the Internet has produced a new generation of Internet marketers to address their marketing to the E-Market.  This means the marketing strategy maybe a little bit different from the traditional market since it is directed to a different audience. Internet marketing makes use of a lot of tools like, email marketing, website development, massive opt-in list, online purchases, bank links and a lot of other methods. Determine the right market and channel to sell your products. Channels can be, TV, radio or Internet. Use a market that mostly used by your customers.

2.Business Goals.

It is the responsibility of the business owner to determine the direction of the company. As an owner you should communicate clearly your vison to your staff. Your workers need to understand how you want them to accomplish your vison.  Take the time to create concreate business goals or targets for the year. Ask your employees suggestions on how you can improve your business.

Most business understand the importance of Social media marketing but some struggle to know where to start. A big mistake for many businesses encounter is trying to tackle Social media all at once. We know it can be overwhelming for many especially for new entrepreneurs. It is important to take it slow, invest on the right one or two platforms that would work best for your business. If your goal is community and relationship building, you would want to focus first on Facebook. If you’re more focused on brand awareness and discovery, then Instagram may be best for you. Once you’ve chosen which platform you’re going to focus on, you will need to determine your content strategy. A big mistake that many business owners is to haphazardly post content.

Research show that more customers are actually going to go to your social media channels before they’re even checking out your website. So, you want to make sure that everything you post is in line with your brand’s mission and aesthetic. Be authentic to who you are. Show some personality. Social media is a great way to show a lighter side to you and your brand. Be sure to establish a voice and be sure that all brand messaging falls in line. Even if you’re a small business, you can create a really strong loyalty on social media as long as you stray consistent and transparent.

We hear a lot about large companies and businesses in the news. But small businesses is the engine in many economies. In America alone, it is home to more than 30 million small businesses that employ roughly 60 million workers. And when you add owners and employees together, that’s a community of about 90 million hardworking Americans dependent on the success of small business which is most of the private-sector workforce. Small business owners are America’s most important job creators. US small businesses accounted for almost two-thirds of the net new jobs created over the past 10 years. In 2012, small businesses created more than 2.1 million net new jobs. Small businesses are the country’s main job creators because they are often growing and looking for new markets to expand. To do so, they need additional employees along the way. Large businesses on the other hand, generally stay the same size, hiring new employees to replace departing ones. Unfortunately, high taxes and recent Government regulations in health care, finance and labor disproportionately hurt small businesses and prevent them from growing and adding new jobs to the economy.

Big businesses with big profits can afford to comply with red tape in a way that small businesses just starting out cannot. As a result, small businesses still haven’t recovered completely from the pandemic and it shows by the chronically weak labor market. More than a 100 million Americans are not working or actively looking for jobs. To bring small businesses back, and strengthen the job market, job killing taxes and regulations must be rolled back. Job creators should be encouraged to hire more employees, not forced to reduce career opportunities. With a 100 million people depending on the success of small business, it’s easy to see why small business is too big to fail.

A well-defined and updated business plan as a business proceed will lead it to success. A business plan serves two main purposes:

• It serves as a business’s road map. Banker venture capitalists and other folks who see a lot of business proposals have discovered that viable ideas are important. The idea itself won’t make or break a business, the person behind the idea and the idea’s execution holds the key to business success.
• To attract capital through loans and investments. This points out why every business should have a plan even if you do not tend to solicit outside funding.

Pros and Cons of a Business plan:

Pros:

1. It helps understand financing by:

• Budget forecast
• Expected costs/revenues
• Break even output
• Manage risk
• Cash-flow forecast

2. Increase chances of obtaining external finance.
3. Allows closer inspection of the various business areas.

Cons:

1. For most business this is only a plan, reality likely to be different
2. Who made the plan? Do they have business experience? This may lead to the danger of inflating revenues and deflating costs. Liquidity issues may arise.

We are currently living in the most uncertain times in the millennium. The pandemic caused by the Corona Virus has changed the way we meet, the way we invest, the way we buy and most specially the way we do business. There’s no doubt that this isn’t just the period when economies slow down. This is a period of change.

Success in business is met by fulfilling a need or want. No matter what industry you are catering to. If they are successful, that means you are successfully filling a demand. Businesses that have many clients solve problem that many people have. The more critical that problem is the more demand is going to be. This is the reason why people buy. They do it to fulfill their desire or need.

Here is a list of business that will boom up this year.

1. Logistics and parcel delivery – The logistics market is estimated to boom for the next few years. This is a big industry and it’s continuing to get bigger.
2. Health and Hygiene related businesses – Before the pandemic, it was perfectly normal to shake hands with people you just met, hold hands or hug and kiss friends. These days’ people are very concern with having physical contact with anyone. They make sure to sanitize at all times. Many use “safety” as the selling point to convince people to buy their products.

The year 2021 is a hopeful year for many businesses. Many companies and businesses are bracing and hoping to recoup from their losses because of the pandemic. Many businesses are hoping that countries will ease lockdown restrictions. The hope is strengthened because of the news of the vaccine being given to the public. However, the challenge is how to bring back consumer confidence at this time. Many businesses like malls have opened its doors to the public but the confidence of people going to these establishments are still in question. Many business owners claim 2021 to be a year of recovery. They are hoping and praying that the year of the Ox will be a better year for everyone.

Aggressiveness is the key to avoid the spread of COVID 19. We have to be serious in preventing its spread. 

The US Centers for Disease Control and Prevention says Christmas shopping in jam-packed stores is a dangerous and unsafe activity during this pandemic. They have advised to be in crowded areas and confined spaces at this time. The agency suggest to do shopping online, visiting open air markets or utilizing errand services, where riders bring goods  right to your doorstep is recommended. If there is a dire need to enter a store, go during off hours when there will probably be fewer individuals. Wear a face mask and face shield and stay at least 1 meter away from each other.  Always bring a hand sanitizer with a potent effect. Once you get home make a change of clothes outside your home and take a shower to make sure that you are not carrying the virus.

Retailers have done a range of things to make customers feel safe. Some check customers’ temperatures at the passageway, for instance, however a contaminated person might not have a fever and is still capable of spreading the infection. The plastic barriers among clients and clerks are not also enough to halt the spread of the disease. In the event that the air in a store feels stodgy, this indicates poor ventilation, and you should leave.

The year 2020 has been very challenging for many small business owners. They are hot the hardest during this pandemic, some are even close to bankruptcy. Many have crawled their way up to survive this crisis. This pandemic has drastically change their approach on how small businesses operate. Business owners and customers are adjusting to the so-called new normal. With these changes comes a number of opportunities for those who would like to start a new business in this era of COVID-19. Before starting a business one should closely look whether the product and service you’ll be offering in the market fits the current consumer needs. We should also look at how to budget and continually finance this business taking to consider the fast changing environment. 

New entrepreneurs should always consider the following when thinking of establishing a new business during this times:

1. Ask the question, what service and products will I offer and why offer it at this time?  You should always be well equipped to give a new and unique line of products and services
2. Look for businesses that are in demand in different areas. Take note of what people are searching for. Think of what they are in need of at this time and how your business will be able to serve these needs. Observe other companies’ in various categories. Compare them and make this as your basis for growth and improvement.

As the whole world suffered greatly because of this pandemic many have suffered. Cases are still increasing in Europe causing businesses to shut down. The Government on most European countries has ordered the use of a mask. A mandatory order of using face masks is in effect to stop the virus’ spread. The summer season is in peak across Europe. But many businesses are still threatened to remain closed due to the deadly virus. The supposed fun atmosphere is still far fetched in many parts of Europe. Nightclubs, leisure, and amusement parks are still not allowed to operate. Fireworks are also banned this summer in Europe.

Covid-19 pandemic: Mandatory Face Masks For All