ENTREPRENEURSHIP IN TIMES OF UNCERTAINTY
The 2008 recession, which was not as bad as current world events, took the world ten years to recover. In light of this, ask yourself how long this economic downturn will take you to get back on your feet economically? In this time of uncertainty, several industries will change forever.
In what direction will this change take you, your customers and your community? Use these questions to guide your decisions. Now is a time to pivot (see Issue 4).
Find a partner to brainstorm with and look at the following questions or scenarios:
1. Starting a new business. When deciding on which market to enter, there are three areas we must look at.
√ New gap to fill. What gap in your industry has suddenly opened up, is unfulfilled and will continue to do so in the new norm of social distancing? How can you capitalize on this gap in filling a need?
INSTAGRAM STORIES ARE TRENDING:
Hop On This Trend For More Exposure To Your Business
My current favourite asset to use inside Instagram is Stories. It used to stress me out because of the need to continually create content for them, as they disappear in a short 24 hours. However, once I spent some time creating a strategy for how to use them to enhance my online presence, I was all in - in no time
Instagram stories are a fantastic way to be more relaxed about the type of content you are sharing on social media, which also takes some of the pressure off. And just because we use the term “relaxed” does not mean that there is no need for a strategy, AND it does not mean that they are used for fluff and filler either (although sprinkling that in can always be a part of your plan). In fact, an Instagram Stories strategy is key to using them effectively as part of your overall business marketing and branding approach.
Some ideas for how to use Instagram Stories:
• Plant seeds of what is coming in your business – You can create some behind the scenes shots or even video snippets as teasers to peak curiosity.
A MATCH MADE IN HEAVEN
Finding the perfect suppliers to build a profitable, meaningful business
I recently started a zero-waste lifestyle boutique in Calgary, Alberta, called Without Co. Yes, you read this correctly. I opened a brick and mortar retail store despite economic times, fear-mongering headlines on the fate of retail, friends and family concerns, you name it! We buy from businesses all across Canada and carry a broad product mix of zero waste lifestyle goods. Supplier relationships have been the cornerstone of our business so far.
Product mix is everything, especially in retail. Carrying the right brands, and having the quality that people come back for, is what drives most of our customers to our store. Because of this, sourcing meaningful suppliers has been instrumental in attracting the perfect client.
TAKING THE PLUNGE IN A CRISIS
Looking back on my business and its growth, it is not what I envisioned when I started. Growing up, I never truly found anything I was “good” at. Friends and family members excelled at sports, music, and more, while I felt empty and struggling to find something in my life towards which I could excel.
Two and a half years ago, while severely mentally struggling, I found that thing that I had been looking for.
September 2017 I was exhausted both mentally and physically. I had a three-year-old, a two-month-old, Postpartum Anxiety and Depression. I was struggling to adjust to our new routine, and as any mother who has dealt with anxiety and depression can tell you, it was no easy task. My son was a baby who always had to have something in his mouth. Whether that being a soother, his hands, or anything he could get his hands on. While looking to find a safe option for him to chew on, I went way beyond my comfort zone and decided to start my own business and create Little Chomperz Teethers.
pictures that resonated with what I liked and moving on to the next. IG, as a business owner, is a whole different world! It is all about the algorithms and engagement, figuring out what to post and what people and your customers want to see.
When I first started my company last year, I knew I had to get my brand out there to be the place where you can shop for mala bracelets for your friends, family and yourself! I knew that IG was a great place to start, but did not know how or where exactly to begin. My friend mentioned to me that I should reach out and send bracelets to IG accounts that had many followers and so I started reaching out to people whom I thought matched what my brand represents.
As an entrepreneur, you are more inclined to make certain decisions and changes that may be successful or detrimental to your business. A learning curve for me was studying and understanding the ins and outs of Instagram (IG). At first, using IG, as a personal user, was liking
A Step by Step Guide to Honing
YOUR PASSION ON A SHOE STRING BUDGET
In today’s society, one income is often not enough to meet all our needs. Many people are being pushed to find a different source of income, and many like myself are tired of doing the mundane job just to get by. I have always dreamed of financial freedom and living a life doing what I love, but the road to get there does not always seem tangible.
Well, I am happy to say that I did precisely that. I found something I loved doing and made a career out of it that gave me an annual income of 70K. It took hard work and focus, but it was worth it. For those of you looking to achieve similar results, here is a step by step guide on how you can generate a sustainable business doing what you love.
love taking pictures! It was never something I thought I was good enough to do professionally or something I had formal training in.