New businesses and startups have come back from a slight slump in 2016 to smash the market open once again. With tax liberalizations and a focus on business being preached in order to help the USA compete with east Asia, 2018 looks set to be the year in which businesses of all sizes can start making serious money. Already, Apple have announced huge growth plans with small businesses as suppliers firmly in mind; Amazon, too, have created work through its 20-city second HQ shortlist.
Once you’ve got your business basics nailed on, you’ll be looking for how to grow. These are the key trends and knowledge you need to get ahead this coming year.
Showing You Mean Business
A key factor to creating meaningful and long-lasting growth for your business is harnessing public opinion. Studies have shown that businesses willingly shed charges for reputational reasons, clearly demonstrating the relation between good impressions, credibility and the size of a customer base – at least where small business is concerned. Another aspect to this is the look and structure of your business. A startup or small business can gain significant credibility by having a cogent brand design and either incorporating or becoming an LLC. For many small businesses, the LLC will be the better route. Just be mindful of the regulations in your state. When you set up an LLC California regulators have different set rules than those for a company in Idaho, for example.
Value The Customer
Building on from the first impressions theme is your treatment of customers. Modern marketing and the sheer reach of social media means you’re more likely than ever to come into direct contact with your customer. Adapt, and be flexible. Provide customer service via every social media account – Twitter, Facebook Messenger and Instagram, to name a few. Make sure your customer feels valued to get ahead. Most markets are saturated with options, so you need to prove that your customer relations are what make the cutting edge.
Get Technology Smart
Technology was 2017’s buzzword. Electric vehicles, automation and AI all made headwinds, with the tidal waves of the cryptocurrency market exemplifying how technology is disrupting what we know about making money in so many different ways. Google are likely to continue pushing voice activation and recognition as the market standard, drastically affecting what search engines throw up. Machine learning and AI are embedded in the systems of smart home-boxes. Automation will cut overheads, but jobs too, as it takes over low-level administrative tasks and pairs with human experience to create augmented reality. Don’t be left behind! Technology is key, and even just being aware of trends will give you the edge.
Business in 2018 is internet focused, people focused and high-tech. Don’t be left behind in the money rush – stay true to these guidelines and you’ll be getting ahead already.