As you move into the new decade, the business world becomes savvier and the competition gets tougher. Entrepreneurs must, therefore, be constantly aware of the latest trends, market demand, and their customers’ preferences. This way, their businesses will gain loyal customers and last for a long time.
The success rate of first-time entrepreneurs is only around 18 percent. If you want your business to prosper, you must not only work hard to promote your brand and build customer relationships. You should also integrate new technology and try innovative ways to thrive in the industry.
Gaining a foothold in a competitive market is never easy. To help you become a successful entrepreneur in this fast-paced and modern business world, here’s a short to-do list.
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Create a Drug-Free-Workplace Policy
Even though many states have legalized the medical and/or recreational use of cannabis, entrepreneurs should still test their employees for substance abuse. Doing so will improve workplace safety and lower the risk of drug-related incidents.
State drug-testing laws change from time to time. Be updated on the latest policies to avoid any legal problems. Employers usually require employees to pass drug tests, especially when safety-critical occupations are involved.
Make the Most Out of Social Media Marketing
Social media can influence a person’s buying decision. As a matter of fact, more than 47 percent of Americans say that Facebook greatly impacts their purchasing behavior. Without any social media presence, businesses are missing chances of gaining more sales and new clients.
Social networking sites enable you to increase brand awareness, promote new products, and receive real-time feedback from clients. To effectively market the business online, you can do the following:
- Ask influencers to promote your brand.
- Hold contests or giveaways.
- Make use of hashtags and trending topics.
A quick tip: before you make any social-media advertisement, you should conduct audience research. Knowing the behavior and preferences of your customers will help create a cost-efficient digital marketing plan.
Own Useful Tech Gadgets for Your Business
Americans ages 18 and older are spending more than 10 hours a day on their cellular phones and other electronic devices. This shows how gadgets are truly becoming an indispensable part of people’s lives. If you can take advantage of these technological advancements, then you can work more efficiently.
There are many gadgets that can help make your day-to-day tasks easier. To increase work productivity, you can use the following electronic gadgets.
Smartpens. Smartpens can make people’s lives easier. These high-tech gadgets will not only help you take down notes during meetings, brainstorming sessions, and negotiation talks. They will also enable you to conveniently record conversations and upload notes to the network for employees to access easily.
In addition to that, smart pens eliminate time wasted on transferring meeting minutes on a computer. They are designed to digitize notes as soon as you start writing.
Noise-canceling earbuds. Brief distractions can make you lose focus and commit errors at work. In order to increase productivity and avoid getting your line of thought interrupted, you should wear noise-canceling earbuds.
Power banks. Entrepreneurs should never let their phones run out of power. They may lose unsaved work and miss an important business call. To avoid these inconveniences, always have a power bank.
Docking stations. Laptops are often used by entrepreneurs to conveniently work at home and at the office. Despite how portable and flexible they are, they’re unable to accommodate many accessories at the same time. Purchase a reliable docking station to connect laptops to all of the tech devices needed to work effectively, such as printers, scanners, and external hard drives.
Travel adapter. No matter where you’re going, don’t forget to bring a travel adapter. Having this portable gadget will enable one to easily charge and connect electronic devices. You can even read and write data to various memory cards if using a highly advanced multiport travel adapter.