This column is sponsored by BizLaunch, a division of Arlington Economic Development.
By Tara Palacios
Want to be your own boss? Tired of the day-to-day grind? Do you have dreams of launching your invention dancing in your head?
Starting a business is not an easy endeavor.
However, keep in mind these latest trends in 2019, as you prepare to launch:
1. Add Experiential Marketing — Experiential marketing is a small business trend that is growing in popularity. Providing your customers with a unique and fun engagement with your brand helps to instill loyalty. It could be as simple as having your customers interact with the naming of a product or service or interactive social media campaigns. Remember to stay on brand, and not get off message.
2. Provide Excellent Customer Service — Excellent Customer service is key to differentiating your business from the competition. In today’s fast-paced world where everything moves at a lightening speed, many businesses forget to provide the best customer service through each touch with their customers. This trend never grows old. Ensure your staff as well as management is trained on how to provide the best customer service experience.
3. Build Sustainable Relationships — Although there are mobile apps for just about everything, and a ton of transactions occur online versus at the mall — old fashioned relationships where everyone knows your name is priceless. We buy from those we trust. Trust is earned through interaction. Expand your network, and build relationships every day.
4. Encourage Employee Happiness — Unemployment is at an all-time low. How do you retain talent and ensure your staff is engaged at all times? Create and maintain programs to ensure your employees are happy. Studies show that when employees are happy daily productivity is boosted by 10-25%.
5. Incorporate Social Entrepreneurship — Social entrepreneurship is the art of promoting a worthy cause as you build your business. Many small businesses in 2019 incorporate an area of social entrepreneurship whereby they strategize to make a difference in the world. They build social entrepreneurship into their business model. This is a long-term trend, and has no sign of slowing down. Many small businesses are adding social entrepreneurship to their overall strategy as they launch.
6. Understand policies and regulations governing your industry — This trend never gets old. As an entrepreneur before you plan to launch, understand the policies (I.e., national, state and local) that regulate your industry, and could potentially impact the success of your endeavors.
Let’s keep the conversation going! BizLaunch is hosting its bi-annual Starting a Business workshop on Monday, February 11, 2019 at Arlington Public Library, Central. Hear the latest trends in launching a small business, and get all the resources you need to successfully start your endeavors.