When you look around at the current economic environment, it may seem like the worst time to be thinking of starting a business. Fortunately, that’s not necessarily the case! Starting entrepreneurs like you, who have great ideas and the passion to run your own business, truly can make it a reality. It only takes will, determination, and a few smart steps to make a business grow successfully, no matter what’s happening in the world.
Bartercard is the perfect platform to give your start-up business the kick start it needs. Bartercard business benefits include providing members with an advance on trade dollar sales so you can keep more cash in your business from day one! More than that, the Bartercard network opens a whole new channel of customers, ready to do business with you. Continue reading to learn some helpful tips to start a new business in any economic climate, and discover how Bartercard can help.
Define your concept
While all the tips featured here are essential elements, starting a business involves much more than a good idea, passion, and hard work. As a start-up, you need to have a clear vision of what you’re offering so you can back it with research to ensure your goods or services are what people want.
Defining your business concept may involve digging a little more deeply than you have already. You can start by asking questions like, what is the ‘why’ of my business concept. What is my unique selling point? What makes my product or service stand out from the rest? Do I have all the skills necessary, or can I easily access people who do?
When faced with an economic downturn, people are looking for more than just frivolous products. They are more interested in partnering with businesses that have products and services that can address real needs. That’s why it’s essential to build on a concept that can answer the current needs of people.
Research the market
Getting new customers isn’t as simple as having a great product. You should research and learn who your customers are. Learn what makes them tick, what their problems are, and where to find their pain points.
What are their current buying habits? Who is your competition? What do they do well, and not so well? How can you do even better?
Answering these questions is essential in determining whether your concept is viable given the market conditions. Once you have a clear picture of your customers, your competitors, and the marketplace, analyse where your business fits in and what will make you stand out. Assess the world around you and think about how your business can provide new solutions to problems that aren’t being answered by competitors.
Conserve cash in your business
Once you’ve accomplished market tests and know that your concept is a winner, you’ll most likely need some cash to get started. Even the smallest business will require the basics, like business cards, a computer system, and professional support such as accounting and, of course, a good cash flow!
Investors are looking to work with businesses that have traction. You need to have a minimum expendable capital to get your business idea off the ground.
Through Bartercard, you can apply for an advance on your trade dollar sales. This gives you trade dollars straight up to invest in your business. You’ll be able to use this advance to purchase equipment, services, and maybe even stock. This way, you can conserve your cash to spend in other areas of your business and open more opportunities to increase business profits!
Connect and gain new customers
Connecting with your customers makes your business indispensable. And you can build your online presence, increase audience engagement, and solidify relations within a supportive network when you’re a Bartercard member. What’s more, it doesn’t cost you to advertise to Bartercard members. Your listing is visible to members locally, nationally, and internationally, extending your reach without reaching into your company’s wallet.
Build your business network
As a Bartercard member, you’ll be part of a global network of business owners, keen to support your new venture. Bartercard can introduce you to new clients immediately. As soon as you open your doors, you’ll have an instant stream of new trade business on top of your cash business.
Bartercard members can provide their products and services to you through trade dollars, helping you conserve that all-important cash that’s vital at the start-up—and indeed at any stage—of your business.
Let Bartercard help launch your business!
When starting a new business, it’s advantageous to be open and creative. Explore available resources that can help your business grow no matter what the current climate is.
With Bartercard, we can provide you with opportunities to make your business work by capitalising on your strengths to reach your business’s maximum potential through innovative trade exchange and introductiohttps://youtu.be/265cUjiaQgcn to potential customers. Find out how Bartercard can help increase your sales and open your business up to brand new targeted markets. Watch this short video to learn more.