9 Business strategies for entrepreneurs that will define 2017
Nowadays, social media, internet marketing and ecommerce are greatly empowering the business world to reach their target audience all over the world. Staying informed on the latest trends in business is critical to maintain relevance in the ever-changing business world.
For entrepreneurs that desires for success and technology, here are 6 strategies you should consider to reshape your business:
1. Use tech tools to build products for non-tech people
There are so many people who are not technically savvy. But today, everyone craves technology, therefore, integrating technology in your business has now become very important than ever before. In upcoming years, technology will become a must have staple for every business, especially if you want to compete today’s marketplace. Integrating tech tools such as WordPress with easy CMS platforms allow people with little or no technical knowledge to easily manage their business website.
2. Personal branding is must
Personal branding is an amazing way to make businesses famous. The internet has opened the opportunity for people to get the most out of it, so people who think they will never succeed in their life, have a great chance to make it happen. Since too many businesses are offering almost similar products and services, therefore the competition in the market continues to rise. Personal branding tools play a great role in this regard, helping businesses to gain credibility and stay ahead of the game.
3. Set a savings goal
By Jan. 1, 2017 you should have a savings goal in place. Remember, this goal should be measurable, achievable, realistic and timely. For instance, it could be establishing an emergency fund that can keep your business operational for three to six months if need be.
4. Draw on your bank credit line
Again, you never know when you’re going to need to inject cash into your business. To be on the safe side, if you have a credit line use at least a little of it. The reason? Banks prefer to issue credit lines to companies that use it.
5. Managing projects remotely
A few years back, I’m sure you may have never even think of a remote employee or a project. But nowadays, so many tech companies, startups and digital agencies are doing most of their projects remotely. Online task management systems have made it easier for businesses to get their projects completed on time. All you need an internet connection, a talented millennial, a laptop and you can access your task list, collaborate with your team, share documents and stay updated with the project progress.
6. Respect millennials buying decisions
Many entrepreneurs might think about millennials that they are selfish and materialist, but if truth be told, they don’t follow the trends that baby boomers do. They always look for more creative ways to get their job done and are continuously looking for the ways to improve overall business strategy. This leads to innovation and helps kick start your business. Catering to millennials needs will become the hottest business trend in 2017 as they are now much more involved in influencing purchasing decisions.
7. More business prospects
Since technology is becoming easier day by day, things you once could find at particularly brick and mortar shops are now easily available online. These changes, along with economic boost in recent years have opened the door for many new businesses that will be reinvented by the millennials. Moreover, businesses will try to stay ahead of their competitors, before the market becomes too competitive.
8. E-Commerce business will continue to rise
It has become much easier for businesses to target and access their core audiences that is why there is high demand for online ecommerce tools. As technology continues to expand, we are expected to see the biggest increase in e-commerce trends.
9. Bringing it all together
These changes will going to happen and being an entrepreneur you need to get ready for the drastic changes in the next few years as millennials tend to make target customers. If you want to survive as a successful entrepreneur and make your business flourish, you need to modify your business in the upcoming years by following these famous trends.