On Furlough, Taking a Career Break or in Between Jobs Due to the Pandemic?
We can all agree that the impact of COVID-19 is not only affecting our health but also our livelihoods. If you’ve recently been affected due to the pandemic, know that you’re not alone and this isn’t a dead end. During times like these, it may be easy to take comfort in giving up; however, now is the time to focus on your goals and learn how to run your own business.
While transitioning from a 9 to 5 lifestyle to being a solopreneur isn’t a walk in the park, it can be a steady source of financial income if you put an effective action plan in place. If you’re either in between jobs or on furlough due to this pandemic in 2020, this article will provide you with tips and tricks you can utilize to take control of your life in order to learn how to run your own business.
Tip 1: Create a Strategy Map
After deciding what you’d like to achieve and how you’d want to run your own business, you’ll need to think about what kind of company you’d like to start. Spend some time reflecting on how you want to run your business and create a strategy map outlining the steps you’ll need to take to make your vision a reality.
This strategy map should contain what channels you’re going to implement to start gaining clients and recognition. Do you plan to use social channels, a blog, or a website or all of the above? How do you plan on getting clients? How much money do you need to effectively start these channels, and how many clients do you need to have before you feel financially stable? Having an action plan in place will make all the difference when you’ve lost your job because it gives you a goal and a clear path you need to take to reach it.
Tip 2: Decide If Your Business Will Be Online or Not
If you’ve decided that you want your own business, you’ll need to determine if you want to run your business completely online or if you’d like an in-person store. If you don’t have the finances to open up your own store, then consider creating an eCommerce store and running your business online. This is an effective, cheap way to get business without having to spend ridiculous amounts of money on rent especially if you’re just starting out. Minimize your risk by starting your business online and then if business starts to pick up, then consider opening up a store if you believe it will boost profits.
Tip 3: Start Implementing Your Channels
Now that you’ve decided which channels you’d like to use to promote and run your business, it’s time to start creating. When setting up your website and social channels, make sure they authentically represent you and give your customers insight into who you are and what you’re selling. These channels are going to be the foundation on which your business will be built, so it’s best to put forth your best effort when implementing them. Do your best to engage with your target audience online and tell your friends and family to share the news of your new business to bring in clients.
Tip 4: Monetize Your Channels
After setting up your channels, you’ll need to figure out ways to monetize them so you can start making money. If you’re using social media, consider using Facebook Paid Ads to bring more attention to your business. Every channel that you use for your business should have a way to attract customers and make sales. If you have a daily blog, make sure to include Call-To-Actions (CTAs) that will make people want to purchase your goods and/or services. Once you’ve begun to make some serious income, then losing your job will become less scary and you’ll have a better handle on how to run your own business.
Tip 6: Consider Getting Help
Learning how to run your own business by yourself can be a daunting task. If you have the funds to hire one or two people to help with your website design or talking with clients, then it’s best to do so to alleviate the stress on your plate. Losing your job is one thing, but running your own business is a whole other stressful task. You don’t have to do this alone. If you don’t have the funds to hire a small staff, consider asking friends or family for help with small tasks that could help lessen the burden.
If things on the career front has changed for you this year, I hope these tips can help you get back on your feet and come back more empowered than ever before. If you need help with social media management, then contact me for a consultation so we can put together an action plan to help kickstart your business.