The new and current COVID-19 situation shook our world in every aspect. Global economies and industries got struck, which impacts people and small businesses.
The whole situation started to shift the mindset towards remote working in a positive way. For instance, 31% of employees think that COVID-19 was a crucial trigger for allowing them to work from home. Due to high uncertainty, more businesses decide to transition their operations towards being a digital business.
Did you know that in the UK alone, there were 5.8 million registered small businesses in 2019.? It was 3.5% of growth compared to the previous year, which translates to roughly 200,000 new small businesses. Also, small businesses are the first affected when it comes to a crisis, and it’s essential to think and act when it comes to digitalization.
If you think it’s time to move your brick-and-mortar business on the new platform where you can offer your products and services globally, you’re going to find crucial tips for starting a digital business at home in the following text.
Benefits of running a digital business
Since we’re living in an informational era where everyone is connected and able to access valuable information, it’s time to think further. Brick and mortar businesses are still relevant, but without having a digital presence, it’s hard to keep up with the fierce competition. Here are a few benefits to consider while planning your digital transition:
- Wider presence – You can reach potential customers through multiple channels cheaper and more effectively. On top of that, you can even focus on a completely different geographical location, which was extremely expensive in a regular brick-and-mortar business world. For instance, if your business sells hand made wallets, instead of focusing only on one location, you can create an eCommerce website and offer your products worldwide.
- Efficient and diverse communication – Digitalization offers new communication channels that ensure high customer satisfaction and brand awareness.
- Better decisions – Advanced analytical tools can support your decision-making process with the use of data. For instance, Google Analytics helps digital business owners understand their users’ behavior and optimize their business to increase revenue.
- Improved working conditions – Once your business is digitalized, you can offer flexible working hours or even remote positions, which tend to make employees happier and more productive.
- Lower operational costs – running a digital business doesn’t have to be expensive. The most significant expense goes on the product or content creation, and once you have a digital product, you don’t have to worry about logistics, storing, and transportation.
4 tips for starting a successful digital business from comfort of your home
Once you understand the benefits of running a digital business, it’s time to talk about practical tips that will make an excellent foundation for running a successful digital business.
1. Invest in a fast and reliable hosting
Having a digital presence and multiple communication channels is a must-thing when starting a digital business. Choosing a fast and reliable web hosting is a strategical process that requires in-depth research and comparison. No one likes a slow website, and even Google reported that the page load time affects conversions.
There are various hosting plans, depending on your needs. If you’re starting with the digital business and learning how to build a presence and attract potential customers, shared hosting might be the best solution. For companies that experience immense traffic, a dedicated server is the best solution that costs significantly more but provides advanced features like having a dedicated server, support team, and the ability to customize server settings. If your customers are predominately based in the UK, you will want to check out the best UK web hosting plans.
2. Niche specialization
Digitalization changed the way businesses operate and allowed people with good ideas to join the global market without a huge capital investment. It created fierce competition in almost every industry, so it’s not a strange thing that businesses started to focus on micro-niches. For instance, if you’re planning to start a digital marketing agency, you should think of service specialization as the industry is already oversaturated. Since digital marketing is such a wide professional field, it’s easier to specialize in specific services, such as keyword research or link building, and strive to be the best.
3. Build a professional team from the early stages
Building a remote team is a very resourceful process that requires money, time, and learning from mistakes (that can be very expensive at times). No matter how good you are in your industry, the chances are you’re going to need a team of professionals to scale your business up. Here are a few helpful tips for successfully building a remote team:
- Determine your needs and processes before headhunting new team members.
- Set up communication channels through video conference tools such as Skype, Google Meets, or Zoom.
- Find team members that possess the specific skills needed for the project. There are many platforms where you can find remote talents, such as Upwork.
- Don’t forget to share clear expectations from new team members.
- Focus on onboarding so your recruits will adapt to a new environment faster and deliver the highest quality work.
4. Collect & analyze data
Nowadays, the ability to read and understand data can give a substantial competitive edge. Luckily, the abundance of analytical tools allows collecting, tracking, and analyzing critical data such as user demographic and behavior, best-performing products, and similar. Having customer data at your hands gives you the understanding of your customers and the ability to adapt to trends, customer needs, and, most importantly, to optimize your business to maximize revenue.
Digital business and remote working is a future
Starting a digital business has never been easier and cheaper. Even if you don’t possess specialized knowledge, the Internet offers all valuable information for learning any skill. The current COVID-19 situation showed how specific industries are fragile and the importance of business digitalization and remote working. Start today and establish a competitive edge in your niche.