4 Tips for Starting a Business in 2020

So here we are, 2020. Many of you may be thinking that this is the year you finally get your own business off the ground and take on the world. As a new decade starts, we all get a feeling of a fresh start in life, the chance to achieve something great and follow our dreams.

If you’re thinking of starting your own business this year, here are 4 top tips to help you along the way.

1. A Great Niche Idea

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As you may already know, business is saturated in most areas of the world. The key to business success in 2020 will be to establish your niche, stick to it and do it extremely well. Finding a niche is far easier said than done so establishing your niche should be well considered and thought out before any decision is made.

Speak to friends and family about your idea, you will be amazed at how quick people get excited when they hear a genuinely good business idea. It’s easy to know when they are disinterested too. Make sure you do lots of research, speak to people about your idea and test the water first.

2. Solve That Problem

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A successful business solves a specific problem that affects a large number of people. The problem that you solve doesn’t have to be anything complicated it can be a small problem that people never realised was even causing them too many issues.

People never thought they had issues with taxis until Uber entered the market and showed them they had been struggling all their lives to get quality, well priced and reliable taxi rides. That’s not to say all business ideas need to take over an entire industry to be successful. You could be selling the best cold room panels or air conditioning units on the market taking a big enough slice of the cake to be very successful.

Once you understand what problem you need to solve for people, you then need to demonstrate to the people how easily you can solve it with your particular product or service.

3. Incredible Customer Service from the Start

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Customer service is everything in modern business. The rise in social media and review websites means that no company can succeed in the current business landscape without incredible customer service. If you lack quality customer service, the internet and your future potential customers will know about it quicker than you can fix it.

Responsive and professional customer service is a must from the very start. Customers in 2020 want to feel like they are part of your business, they want to understand your values, see your vision and they appreciate transparency. Good customer service will have customers coming back over and over again.

4. Create a Vision

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We all want our business to grow and be succesful but not many of us know specifically what we are aiming for. Creating a business plan is essential, it keeps you focused and working towards the bigger goal. Having a vision can help you imagine your success before you have even reached it. This can push you to complete the work necessary that helps you get there.

Small goals consistently achieved over a long period of time builds great companies. All you need is the initial vision, drive to get there and most importantly, consistency. Your customers and employees will also appreciate your vision, inspiring them to be a part of your journey. Once you have a group of likeminded people who want you to succeed, it’s hard to fail.

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