Though creating a Facebook Business Page is simple, there are so many important aspects to look at before you invite your friends to like the page.
I will first give you a quick guide on creating a Facebook Business Page. If you have already created yours, go straight to Number 01.
You need to have a facebook account to create a business page. Go to create icon and choose a create page option. Then you just have to provide the basic business information to create your business page.
Though creation is simple, there are so many important aspects to look at before you invite your friends to like the page.
Before doing any of the optimisations, go ahead and open five of your favourite business pages on Facebook for reference. Try to include at least 2 pages from your industry. Keep them opened in a separate tab until you finish all these. In each of the following steps, you need to check how these pages have done the particular step!
1. Uploading the right Facebook icon
Your Facebook page icon is the most important thing on your page after the name. So make sure you do enough research before finalising it. In some instances, like when you comment on a post, its only your page icon is shown.
Mostly business pages use their logo as the Facebook icon. However, make sure your icon is visible and clear.
To easily create a simple logo aka a facebook icon, you can use a tool like canva. Its free and you get the access to many templates and presets to select within the free plan.
2. Uploading the right Facebook Cover image
A great cover image helps create a great first impression for a visitor to your page. You can use canva to create an appealing cover image though you do not have any experience in graphic design.
After you uploaded the cover image, check it from different devices such as from a laptop, a tab and a mobile to see whether all devices show the cover image as expected. Because, sometimes though you created it in right dimensions, the text in corners are not visible in certain devices.
Therefore, I tend to choose a symmetrical cover image like this,
3. Edit About section: Description
Use the description effectively to give a clear idea to your audience about what you are trying here.
You need to answer these three questions in the description,
What your business is about?
What this page is about?
Why someone should like this page?
4. Contact information
Update Relevant Contact information in the page. This helps your audience to find you. Relevant contact information depends on the purpose of your page.
For instance, whether you need to include a map to your business location or to show your contact numbers might depend on your purpose of the page right?
To update the contact information, you need to go to the same “About” section.
5. Our Story
This is a new addition from Facebook. “Our Story” can be effectively used to provide an in depth description about your business ad the page. You can edit this in the same About section.
This is similar to writing a blog. You can add a nice image and include a long descriptive article about your business.
You can utilise this space in the following ways,
Add an article about the history of your business
Add an article about the purpose and values of your business
Use this as a dynamic space and update your latest blog post here
Use the space to provide a list of contact information and addresses to your different store locations
6. Delete Unnecessary Posts
When you make updates such as Facebook icon, cover image and even when you update certain contact information, Facebook automatically post that on your page.
Most of these posts are not relevant to your audience. Not like in a personal profile, you change the profile picture and every one of your friend start liking and commenting on it.
So go ahead and hide these posts from the timeline.
7. Delete Unnecessary images
Further, you shouldn’t have 10 Facebook icons in your profile pictures album. You should have only one final image in the profile pictures album and one final image in the cover photos album.
The reason is, in a business page, all these uploads are public. So I don’t think you want to show your audience how many attempts you made to come up with your final logo right?
8. Add a Button
This is a very important task before publishing your business page, as this is the main CTA ( Call To Action) on your page which is located just below the cover image at a clearly visible place.
You can choose from so many CTA options and link that into the relevant website, landing page, blog or even to your Youtube channel.
9. Create first 3 Posts
Having some quality posts on your page is vital before inviting your friends to like the page. There should be something for them to realise that your page is worth liking.
Use the following post ideas to create your first 3-5 posts.
Welcome Post: to welcome your audience to the page
Paste a direct link to your website, youtube channel or blog and ask the audience to ” Go check it Out! “
Post a link of a blog post: This can be either an original post on your blog or a copied one from a third party blog
10. Invite Your Friends
Now your Business Page is ready for the visitors. It’s time to get some likes. I will write a different blog post on the ways to get the initial likes on facebook without boosting. However, the easiest and most effective way is to invite your friends.
Invite all your friends to like the page. Go to the “Home” of your page and you will find the “Invite friends” option on the right side.
Now, use this as a checklist when you publish your Facebook Business Page. Which of these helped you create a better business page? Comment your thoughts!
As Facebook became one of the largest media advertising companies in the world, so many new businesses and services started to emerge such as Facebook advertising agencies and Facebook business management agencies.
More businesses started hiring Individual consultants or businesses to manage and optimise their business pages and to advertise on Facebook.
More people coming into business means more profit for Facebook. However, there was a risk of handing over a business account to a third party to manage or advertise. Then came the login and password issues, payment detail issues and so and so on.
So Facebook decided to come up with a platform for those who help other businesses, because all these businesses eventually help Facebook. As a result, here we have Facebook Business Manager for Free!
Business Manager provide solutions for all of the above issues we discussed. In fact, it goes beyond the basics.
What Business Manager can do?
Consider Business Manager as a system that runs your business, of course as the name suggest.
Business Manager can be used to perform four main tasks.
1. Manage Ads: Ads Manager
You can manage multiple Ad accounts under your Business Manager account.
You can add all your pages for which you are an Admin, under your Business Manager and use a single payment method for them while utilising the payment methods set by the clients to serve them in a secure way.
2. Manage Pages: Page Posts
You can manage your clients Facebook business accounts with content posting, scheduling and community management.
3. Manage People: Business Settings
If you have employees working for you, Business Manager gives you the ability to add them to your business manager account without sharing any of your login details. In addition, you can even assign their work precisely as which Ad accounts or pages they should work on.
4. Manage Clients: Business Settings
You can request access to a client’s Ads account or a business page directly from the business manager in a more secure way without sharing any information about your login details or the client’s login details.
Further, you can get analytics reports for different assets you manage in one place which you can share with your clients.
Moreover, you can create different audiences for your clients at one place, you can share videos and images you want your team to use in their work, use pixels to take your analytics and your clients Ad targeting to the next level, and so much more!
Who should use this?
If you have only one Facebook page and one Ads account (every Facebook page generates an Ads account), it’s not necessary to have Business Manager.
Even if you get the requirement of sharing your assets ( Ads Accounts) with a third party advertiser, consultant or a manager who help you in your campaigns in Facebook, you can still add them through your Ads Manager without having the Business Manager.
If you are one of these, you should use Business Manager.
an advertising agency managing several Ads accounts for clients
a social media management agency managing several Facebook or Instagram business pages for clients
a business managing several pages or ads accounts with multiple employees
a company with several sub divisions using separate Ads accounts
Business Manager Structure
If the Business Manager is still confusing, check out this bird’s eye view. This includes the main tasks, the Business Manager can perform.
Hope this helped you to have a clear idea of the business manager and its uses. Comment below any question you have about Advertising in facebook.
There are so many movies in the world that are made around marketing and sales stories. Hundreds of movies if we go into depth.
One might argue every successful movie is a great marketing case study. Yes, it is. Because, it takes a huge marketing effort to create a successful movie from the beginning. From selecting the right actors, choosing the locations, putting up with the music, and so many more until promoting.
Here, I will be presenting you with the 10 best Hollywood movies you should have watched as a marketer, a salesman or a businessman.
With this, I will attach the trailer to each movie and will notify the IMDb rating. However, the ordering would be based on my personal preference.
1. The Founder (2016)
This is based on the true story of how a 56 years old Milkshake machine salesman named Ray Kroc turned the McDonald brothers’ revolutionary fast food restaurant into the worlds biggest franchise business.
This has an IMDb rating of 7.2 by the time I write this. However, from a businessman’s point of view, I expect it should have a rating above 8.
2. The Pursuit of Happyness (2006)
Will Smith takes into life a struggling salesman Chris Gardner, who is doing his best to create a better future for his child Christopher.
This masterpiece has an IMDb rating of 8.0. A well worth watch
3. 12 Angry Men (1957)
1957? Bit old yeah? Yes It is old as it sounds. In fact it’s an old black and white movie. So how does this movie gets an 8.9 rating in IMDb? what is the specialty?
Persuasion, is how I explain it. This outstanding piece of work is all about how a man persuade 11 others to prevent a miscarriage of justice for a young boy on a murder.
Though this is not directly related to business or marketing or sales, this is a great movie to realise the importance of persuasion.
4. The Wolf of Wall Street (2013)
This is based on the true story of Jordan Belfort, a wealthy stock broker.
This movie particularly comes in the top 10 because of the acting of Leonardo DiCaprio. Every businessman has something important to take from the personality of DiCaprio in as Jordan Belfort.
This has earned a massive 8.2 rating in IMDb. Watch the trailer and you will watch the movie twice!
5. Moneyball (2011)
This is about a baseball team manager with a very tight budget use a computer generated data analysis to create a fighting team.
Carries an IMDb rating of 7.6 which is a fare rating in my mind.
6. Lord of War (2005)
Nicolas Cage starring as an international arms dealer. A story of a chasing success of a salesman, his principles, family and addiction to the business teach you to have a much deeper insight into business.
IMDb rating: 7.6
7. Boiler Room (2000)
Another stock broker story looked at in a different perspective. More about business ethics, with a thrilling storyline.
Gained an IMDb rating of 7.0
8. Joy (2015)
The story builds around a girl named Joy in a complicated relationship and family life trying to pursue her dreams. More about entrepreneurship and business.
Has an IMDb rating of 6.6, but worth more than that as a great startup case study.
9. Tommy Boy (1995)
After the sudden death of his father, Tommy has to take the leadership of a dying auto manufacturing facility, his father’s business. Hundreds of employees’ jobs and the business continuity at stake.
Tommy decides to take the challenge to bring business. Though this is a comedy movie, it creates so many positive propositions about sales.
IMDb rating 7.1
10. The Social Network (2010)
How Harvard student Mark Zuckerberg creates Facebook and how he face the law suits from the others who claim Mark stole their idea.
Earned an IMDb rating of 7.7
Each of these movies are handpicked from my favourite sales, marketing and business movies. If you haven’t watched any of them, its the time!
Further, if you feel like I should have included any other movies in this list, let me know in the comment section, I would love to hear from you.
The analysis was strictly based on these parameters. So, I might have missed the best content creators in twitter or the influencers with the highest number of followers in the considered niche.
However, I believe, these factors together, turn a good twitter account into a great one.
So, some basic mathematics was unavoidable. If you don’t want the mathematics of how I came up with the analysis results and you just want to see how you can use it to grow your twitter account, scroll down a bit!
For each of these parameters, I assigned a weight based on their importance as follows.
Then I assigned ratings out of 10 for each account on each parameter based on my research.
Addition of the Multiplications of these scores gave me the Comprehensive Twitter Ranking Score.
Take Rand Fishkin for example, he achieved a CTR of 216 as follows.
Here, I present you the CTRs of the top ten influencers only based on my analysis. Out of the 40+ accounts I analysed, the lowest CTR was 112.
For my surprise, some of the top players in the market such as Neil Patel, Danny Sullivan, Barry Schwartz, Matt Cutts, Dr. Pete Mayers were not in the top 10.
Here is why I used the above parameters. If you want to become a successful twitter influencer, consider the following six factors.
1. Original Content
Here, what I meant by original content was that the content one tweet from his own blog or from his company blog, or from any other original source.
This is the most important part of an influencer’s account as one of the first reasons users follow them is for this type of original content.
Influencers like Neil Patel, Eric Enge, Brian Dean, Shane Barker and John Rampton had the best content on their accounts mostly from their own blogs. However, all of them did not make it to the top 10.
Because, some failed to concern the followings.
2. Relevant Retweets
Retweets is a tricky function in twitter. It has to be used and it has to be used wisely.
Rule of thumb is to use a Tweet to Retweet ratio of 3:1. Going for a higher ratio of 5:1 is still accepted for a content creator as they may have more original content to tweet.
But doing it other way around or totally ignoring the retweeting function would be a disaster.
There is another important reason some influencers fail to consider retweeting which we will discuss in the last section.
3. Post Engagement by the followers
Everything you do on twitter as an influencer, I believe is to improve the engagement of the followers with your posts.
Another way to put it is: The sole purpose of you being on twitter is to engage with your audience.
If you have 1 million+ followers and you can not get 20 likes, 10 retweets and 10 comments on your post, remember, you are doing something terribly wrong
4. Post Engagement by the Influencer
This is also an important factor and you can also identify it seen the weight I have put on this.
Social media is not a one way communication where an influencer come and dump their content on the twitter account and go, letting the followers to start arguing, fighting, make assumptions and come into conclusions.
The influencer has a duty to engage with the followers on the same platform and I believe that’s the beauty of social media.
That’s the beauty of twitter, where I can directly talk to the president of the United States or the CEO of Apple and they see me irrespective of the number of followers I have. If my concern is legitimate and they find it interesting, they might consider replying.
5. Followers Count
I have put a little lower weight for this factor though most of the influencers are following after this number spending a tremendous amount on advertising.
Yes, number of followers are important. But there is a more important and relevant matrix, I call it The average post engagement per follower.
Count the total engagement (likes+retweets+comments) for your last 10 posts, divide it by 10 and divide the number by your follower count and take it as a percentage.
You will be surprised by seeing how little engagement your posts make with your followers. Try to achieve a 1%+ follower engagement for your tweets.
It’s not magic, you have already gathered a great set of followers. Now think about why in the first place they followed you and what value you can offer them in your tweets.
6. Following Count
I have seen some twitter influencers follow back very little as 50 accounts. They might have followed more previously and cleared all the unnecessary followings later on.
Some are using lists, which is also not a great option in an engaging platform like twitter.
However, If you follow back only 50 twitter accounts, how would you get to see the important retweetable content or the content going viral on twitter? Does that mean your sole purpose of being on twitter is to dump your content you create and ask your followers to click?
I would introduce you with a better strategy here. Follow these steps,
Start following all the influencer accounts in your niche. They would keep you updated on the changes in the market.
Start following business accounts that are relevant to your niche.
Follow business magazines and Newsletters that are relevant.
Follow your followers based on their regular engagement with your posts. It would make their day, being followed back by an influencer they like. On top of that, you will make a loyal follower who would further engage in your posts.
Having 1 million followers and 50 followings, if your tweet gets only 10 likes, 1 comment and 3 retweets, it doesn’t make sense. Rather you may prefer to have a 20k followers and 5k followings with a much better engagement with your audience.
Again, if you want to see the results of this analysis I carried out for SEO and Digital Marketing Influencers, Check it out here,
I have seen in many startups, founders spend too much time finalising their business name.
The valuable time they should have put on creating their marketing plan.
I have created this ultimate guide for you to come up with the perfect Brand Name for your Startup, Youtube channel, Blog or any business online or offline.
I would use three main steps here called Brainstorming, Filtering and Finalising, and guarantee that you will come up with your perfect brand name at the end.
Now, the objective in this stage is to come up with 10-15 potential ideas as your business name
We will discuss how to do it step by step!
1. Understand your business
Your brand name has to be appealing, smart and personalised statement representing your business.
Consider the following list to identify what your business is,
Why this is important? Because, your name, its tone in pronunciation and its structure would change depending on your industry.
For instance, consider the name “Apple”. The name itself, reflects the simplicity and user friendliness of the brand.
And now, just imagine a finance service firm named “Cherries”. How does that sound? How relevant that brand is for a business in finance? Would you hire Cherries to get your tax file done? I doubt that. The name for a such firm has to be solid.
Your purpose of being in business or your mission statement is something important to consider before naming your business. Yes it is true that you would not have finalised your mission before the name.
But you need to have an idea of your purpose.
USP is the Unique Selling Point of your business/ product. If you haven’t set it yet, it’s time to do it. Because you need to have a clear idea of where your business is heading and how you differentiate your brand from the competition.
Right! now you have identified your industry, your business purpose and your specialties. Let’s move on!
2. Carryout an online research for competitor names
Go to Google.com and list down your competitors and influencers that you follow. See how they have named their businesses.
If you are looking for your Youtube channel name or your blog or website name, use platforms like youtube, twitter, facebook to research on how others have done it.
The sole purpose of this research is to get an idea as to how your competitors have named their brands.
DO NOTS No: 01 NEVER take a competitor’s brand name with a little alteration in a way that it confuses the customer. For example, if you are starting out a burger business, do not name it as “Burger’s King” or “King Burger”. It gives your audience an idea that your business is not genuine or it’s not original. so AVOID it.
3. Create a list of 10-15 potential names
Now it’s time to generate name ideas. For this, I am giving you a list of strategies. You can use these strategies to come up with the required set of brand names.
1. Use your name or the nickname
Creating your name as your personal brand is the ideal thing to do in platforms like Youtube. But then, you have to consider the following drawbacks of doing that.
It would be difficult to sell a personal branded business
If you think of getting another business partner to your business in the future, it would create complications
If the owner of your business is only you, write your full name clearly on a paper. See whether all of that or a part of that can be used as your business name.
Highlight the starting letters of every word and see whether tweaking of these letters makes any interesting words.
If you have an interesting nickname that was used by your family or your friends, consider that as well.
If the business has several owners, you can still tweak with letters from the names of the owners and create combinations.
DO NOTS No: 02 Do Not Use acronyms if you can not spell them as a word. That’s an old fashioned way of naming your business. I know, there are companies like BBC, CNN, HSBC who has done it successfully but it takes a huge marketing effort to take an acronymic name into your crowd.
2. Try out an online business name generator
This has become a popular way of finding names for businesses. Most of these name generators are free to use.
You have to enter a keyword or simply a word that you like to have in your name. Then these programs analyse your word and combine that with a set of preprogrammed words phrases or letters and present you with the result.
Here, I have listed some of the most popular name generator programs you can try out for free.
I recently noted, that if you list out your business keywords and translate them into different languages, you could get some quality, interesting and catchy name ideas. Try it out!
For instance, consider the word Digital. It is “Numerique” in French and “Digitus” in Latin. I know because I Googled.
You can find these interesting worlds, tweak them and pronounce them the way you want.
4. Use your business Keywords and tweak them up with words or letters
Many businesses do this. Checkout this company Backlinko. This is a business in Search Engine Optimisation (SEO). Backlink is one of the keywords in SEO. So they have just added an “O” to the end. Interesting right?
DO NOTS No: 03 DO NOT USE generic keywords to your business and combine them with your name. For instance, “Sam’s Salon”, “Jame’s Hardware”, “Mick’s Coffee”. I mean, this trend is long gone!
5. Use the Map or the Dictionary
One big source of names is the map. Look at the oceans, rivers, mountains, cities in the world. See how Jeff Bezos is rewarded for naming his book stall Amazon, instead of “Jeff’s Books”
Another source is the Dictionary. Surf through it and look for an appealing word that you can tweak and make relevant to your business.
Now when you reach this phase, you already have picked about 15 potential brand names for your requirement. By the end of the Filtering process, You should try to take that number down to at least 5.
Use the following guidelines to Filter the selected names.
1. Eliminate long names
Names with more than two words, or more than 15 letters aren’t typically good picks as a brand name for your company
Keep it short, so that it’s easy to remember and to type in a search engine for your audience.
2. Avoid common spelling mistakes
Most entreprenuers pick complex and confusing names for their startups thinking that the name would stand out. However, there are so many words in English that people commonly misspell like ‘entrepreneur’.
I have seen many people struggle to spell words which include ‘ie’ or ‘ei’ , words which include ‘eu’ or ‘ue’ etc.
Rule of thumb here is that your audience should be able to spell it without a doubt
3. Avoid common pronunciation mistakes
Similarly the word pronunciation has such complexities. Say for example “Peugeot”. This is a French originated brand name which has a unique pronunciation. Most people still struggle with pronunciation and spelling even after 200 years of starting the business.
There is no doubt about the success of Peugeot as a business. But you don’t have to pick such a name for your startup right?
4. Get feedback from others
List your names and send it to your closest friends, family and to your team and ask them to pick their top five.
This will surely help you get your list down to 10 or less.
This is the last stage of finalising your business name. Now you should have filtered your list of names to a smaller list, probably below 5.
I call this step, “The REAL brand name quality test”. REAL stands for Relevant, Expandable, Available and Lovable.
Your brand name should be relevant to your industry and to your business. It should represent your business purpose and values. When the customers hear the tone of your name they should feel your business.
Consider for instance, the brand name “Volvo”. If you forget that Volvo is an Auto manufacturer, think of the other products that you can integrate with the brand?
Volvo can be a Finance service provider, Volvo can be a tech company or Volvo can be a pump manufacturer. But surely, Volvo can not be a Cake company. Because it doesn’t sound like one.
If the Brand name describes the nature of your business, it would be highly valuable for your SEO (for the potential customer to find you on the internet) when you have a website.
However, it doesn’t mean you have to use a business keyword as your brand name. I have seen some domains like “bestdigitalmarketingconsultancy.com”. I do not find any particular value in such brand names.
Remember, you are creating the brand for your audience, not for the search engines.
When your business expands, you should be able use the same brand, may be into different geographical markets or into different products or services.
See the examples of some global brands.
Google can expand its name theoretically into many products and they have expanded into AI, Robotics, Automobile and many more.
Similarly, companies like Apple, Tesla, Sony, Samsung, have that same flexibility to expand into new markets protecting their core values.
What if Jeff Bezos named his online book store as buybooksonline.com and now he got to sell baby diapers under the same name?
You don’t have to choose a name which can be used to sell anything. But it is good to be able to expand at least within your Industry.
For instance, If you are looking for a name for your photography business, you should be able to use that name for videography, event management and may be for selling cameras and equipment in the future. It doesn’t have to be used for selling Fresh vegetables later on.
Your brand name has to be a unique one and any other business should not be using it already. You could check the availability of your brand name in the following ways.
1. Google the names
This way you can find out whether there is any major business associated with your brand name or with anything close to it. If you do not find an exact match, that name passes the first availability test.
If your name is taken by a business which is totally in a different industry, you can still choose it, but in the future when you try to trademark your brand, you might face problems.
2. Domain availability
This is VERY IMPORTANT even though you are not planning to start your website any sooner.
Apart from the above tools, there are separate tools for each country for Trademark searches. Google the Trademark database of ‘your country’ and check the availability of your selected Brand name.
4. Social media availability
Check whether there are already created pages and accounts in the social media platforms that you are considering to be in.
Check facebook, Youtube, Twitter, Instagram or any other platform you wish to setup business pages.
If one of these platforms are not available for a name that you think is the best fit for your business, don’t worry. You can still bypass this.
For instance, you have chosen the name ‘Limely’ for your fresh juice shop and you find that ‘limely’ is not available to use as your Facebook page as someone else is using it.
You can still use ‘Limely’ as your business name and ‘LimelyOfficial’ or ‘LimelyFresh’ as your Facebook business page name.
This is THE MOST IMPORTANT thing of all. You need to LOVE YOUR BRAND. You need to feel proud when you hear your brand. Therefore, do not take the final decision based on someone else’s recommendation. You need to select it yourself.
And if you love the Brand name, you can bypass any of the above restrictions or any guideline that I have mentioned above
Now that you have selected the perfect brand name for your business. Follow these steps to grab it and make it yours and yours only!
Buy the Domain ASAP even though you are not planning to create a website now
Create all the relevant social media accounts ASAP
Consider trademarking your brand (this process will differer depending on the country you are doing business, you may need some assistance of a lawyer for this)
If you came up with your business name with this guide, let me know in comment section. I would love to hear!
Effects of COVID-19 to the business is so massive that the impact will last till the end of 2020 for some industries and sectors. It would take even more time to heal the people and get the economies of countries to where they were.
In this, I will observe those industries which are highly affected and will discuss course of actions they can implement right away to minimise the effect.
The highest affected of all, I believe. Aviation is a highly seasonal business whereas, their profitability is sometimes so sceptical due to the their uncertain nature. Airlines typically have high fixed costs and finance costs to be paid which requires them to be in business every single minute. They plan for their aircrafts to spend a minimum time in airports and always want to be in the sky with the maximum number of passengers.
However, with COVID-19 situation, some of the countries which are highly affected have totally shutdown their airport operations and other countries have minimised the arrival of aircrafts to their airports.
Even if an airline operates, they have to adapt to the high safety and security requirements imposed which again costs them time and money. All this has surely caused tremendous losses for airlines.
From the other side, one of the airline’s substantial cost in their financial statements, jet fuel, is down from a huge margin giving them a relief. Unfortunately, most of the airlines are currently in hedging agreements to face the sudden movements of jet fuel prices. Though the fuel prices is dropped, there is no significant benefit for most of the airlines right now. Checkout this article in investopedia to read in depth to how airline hedge fuel prices.
However, what generally happens here would be that the governments would use the tax payer money to save the airlines. Though these funds come through, it will take some more time for the people to have that peace in their minds to travel like they used to do.
What Airlines can do
Promote domestic travel
Cut costs on non essential projects and services
Follow strict health and safety requirements and promote them
Get into merge operation agreements with other airlines to survive
There were economies, some in Europe and most in Asia and Africa, that extremely depended on tourism. In these economies there were thousands of individuals and companies providing different services.
With the COVID-19 situation became a pandemic, locking down many tourist destinations and airports, these businesses were closed and operations came to an end. From the five star hotels to the home managed AirBnbs, the airlines and tourism package companies, tourism related entertainment businesses, travel guides and cab services are in the direct affected list.
Tourism is a highly seasonal business just like aviation. However, it will take some serious time for people to start travelling around the world even after the COVID-19 pandemic. I can’t see that day anywhere close at the moment I write this seeing the active virus situation in the world.
Start operations focusing domestic market as people would tend to travel locally just after the pandemic situation is over
If any business wants to change the way they operated, position themselves into a different segment of tourism, renovate their assets, this is the best time
Get ready for the next wave. Keep your costs low and plan to survive for the next six months
Buying a car at a time that you don’t even know the next day you go for work or you get paid? very unlikely. Movement of people globally, have become historically lowest. Individuals and businesses would not spend their precious money to buy automobiles at this hour.
Following data is about the automotive production lost in Europe in the last month due to the lockdown of the manufacturing facilities. However, I believe, the sales of automobiles would be worst though we don’t have reliable data at the moment to compare.
However, there is a green light for automobile industry from far as people would not be comfortable using public transportation for a long time even after the pandemic situation is over. A demand for smaller, affordable and dual purpose vehicles should rise which could be exploited.
There is a considerable drop in the traditional education sector as most of the institutions are closed, whereas a significant up movement in online education industry as more people stay at home trying to access education online
According to UNESCO, 1.38 billion students stay at home due to the education institution closure.
This is a huge opportunity for online education providers
Education institutions can focus on providing support for their students to study from home and some institutions have gone to the extent of ‘Lecturing From Home’ which is a great initiative to face the situation
Manufacturing industry for non essentials were highly affected, mainly due to the lockdown situations in certain countries and reduced demand for industrial products globally.
Manufacturing is an industry which can not be run remotely. It involves so many people and so much human interactions which make a manufacturing facility more susceptible to become a COVID-19 virus spread house.
Safeguarding the workforce should be the highest priority in such a fast moving unpredictable outbreak.
Declining demand, production and revenues while accumulating debt would be critical for most manufacturing businesses.
Honestly there is very little apart from the general government support or bank support which any industry can have/ should have to survive in a difficult time like this.
Try to start partial operations with the support of the government or health authorities complying to the maximum health and safety standards
Consider investing in industrial automation processes such as autonomous material movements, robotics
Secure the existing clients and the orders. It won’t be difficult as the whole globe is in the same pandemic situation
Construction is in a similar situation as of manufacturing. However, they follow their own safety standards which can be easily upgradable to the COVID-19 requirements.
But the issue is, this is an industry which involves so many other suppliers and service providers in a daily basis without whom the operations can not be run.
Construction businesses can start partial operations depending on which stage their work is on with minimum work force adhering to the required safety standards if the governments allow.
7. Financial Services
There are two places where all the above businesses seek help in a situation like this. First is the government, second is the bank or the financial institute.
So what would be the effect for financial institutions?
like in any economic recession, banks will start losing their credit as their customers facing temporary and permanent closures, the value of their investments would fall.
Further, it would cause banks to cut credit facilities for the other businesses as well resulting in affecting the whole economy at a time that the lending needs are high.
Providing relief to the existing customers would be inevitable for financial services as it is absurd to pressure them in a situation like this destroying the relationships.
The one thing financial services could do is seeking the government support as everybody else.
Cashless payments are becoming more popular and mandatory in some countries with the virus spread situation through exchange of cash. The banks can surely look into grow their credit and debit card customer numbers.
Seeking the support from the governments and the financial institutions would be the number one surviving method for most of the industries above.
However, with a little bit of thinking and management, businesses could minimise the effects of the outbreak and even turn this uncertain situation into a breakthrough opportunity.That’s the beauty of marketing.
Comment below if you are from any of these industries and what actions your company’s are currently considering.
Working from home is such a nice idea and people who do it hate it and people who travel to their offices everyday in fact love it.
Working from home is not as easy as it sounds and challenging compared to working in an office, with all the commitments and distractions around. So if this sounds like you, here are some easy steps to make the best out of it while not stressing out.
I have prepared this step by step guide to create an effective Work From Home environment with Easy to Follow steps. This will improve your WFH productivity
1. Prepare a dedicated workspace
Do not work from your bed. In fact try to keep away from the view of it if possible. It has magnetic properties capable of grabbing you back to it though how important your work is 😅.
Prepare your workspace in a simple way, ideally like your office table and try to keep it without much clutter. Keep only what is necessary for your work.
Keep a separate shelf to stock up your things that you will need while working. Keep the shelf in walking distance in your view. This way you can keep your working table well ordered.
2. Prepare a ‘To Do List’
Prepare a To Do List for the following day every night before you sleep. I know this sounds fishy for those who are not used to work with written down plans, but trust me this works.
It has a psychological effect to wakeup in the morning when you have a list of things to achieve the next day.
Another advantage is when you achieve something which you have already listed, it tiggers a chemical called dopamine which is a neurotransmitter, one of those chemicals that is responsible for transmitting signals between the nerve cells of the brain. Dopamine is a ‘feel good’ chemical and it plays a vital role in our brain to feel us ‘Happiness’.
Some people think, waking up without an alarm is the best achievement of their work from home journey but what if you see it different. Think that you can start your work early as possible while others are still on their buses to work.
Yes its true that Working From Home is flexible, that you can wakeup at any time and work until you finish your work so that you don’t have to think about timing, which is a lazy way of looking at WFH.
Though you are a full time work from home employee, or a self employed, working from home, setting your working times is rather important to keep a self discipline in your work and to achieve your full work efficiency.
If you are a morning person, try start early so that you are always ahead of others and you can finish early. The other option is to align your work hours with your office hours in which your subordinates also work.
4. Take Breaks
Do not try to finish your work early by working straight for 6 or 7 hours from the morning into the afternoon without taking any break. Its not a sustainable way of working from home.
Instead, take clear breaks for your meals, for cooking, laundry and even for exercising. The beauty of WFH is that you can do all these while you are working, but make sure you take breaks. Do not over multitask.
5. Social media
Working from home with your mobile, with active social media feeds, giving you tons of notification every minute does not create a good working environment.
You have few options here,
Log out from all your social media accounts while you working
Keep your mobile switched off
Disconnect your mobile from wifi and mobile data (which I do)
If you are too addicted to social media, you can take a ‘Social Media Break’. A fifteen minutes for every two hours of straight work for instance.
My advice here is, get more breaks. Breaks improve your productivity and the quality of work. In fact, it’s a way of utilising the flexibility of WFH. But make sure you come back to your seat on time without getting caught up in a never ending social media browsing or a gaming session with friends.
Listen to some soothing, mind relaxing background music which will make you feel calm and energetic and take you out from the distractions of the outside world. This will improve your focus.
7. Interact with the family
Take some time to interact with your family. Talk to them while you taking breaks. There are several reasons why you should do this.
Everyone is not having the luxury of working from home and you are lucky, so share it with your homies
When you keep interacting with the family while you take breaks, they will not come back distracting your work
Human interaction is something you miss when you WFH compared to working in an office. Human interaction has something to do with your work efficiency and mental balance. So at least interact with the people at home
Though this is the last step to create a productive work from home environment, this is one of the most important thing to put your attention.
Especially if you are a long term work from home personal, you should include an exercising time slot into your work. Yes I know you can exercise at any time while you work and its flexible, but my advice it to dedicate a time for that. At least 30 minutes a day.
If you are fitness conscious, go to the gym (which is what I prefer doing), or else, at least take a walk in your neighbourhood.
9. Change your Work Table once a Week
Though Work From Home Sounds great for those who work at offices, there are so many things you will miss. For instance, team working, updates on fashion, trends, news, because you are not going out.
And some people who used to work outside get stressed out with working from home conditions even though they have the best paying jobs with the most comfortable working spaces at home.
So, take a break and say good bye to your home work space at least once a week and go work in a library or in your favourite coffee shop. Invite your friends also to come if they are working with you only.
Working from home is such a flexible way of doing your job or the business. More than anything else, it gives you the opportunity to manage your life more efficiently. However, to have a sustainable WFH experience and to have a work-life balance, you need to be structured.
Comment below if you think there are more steps to add here. Hope this helped!
Many successful businesses, well known brands started with one person’s vision to create their dream into a reality.
If you can dream it, you can do it -Walt Disney-
Did you know your hobby can create you the life you always wanted? Read further to learn how you can turn your passion into a successful business
1. Understand your passion
We are starting from the most difficult and the crucial step where this will make or break your dream. Do you believe most people do not realise what they really love to do before they die? But that’s the reality.
If you have already identified your passion, go to No: 3, or else I will tell you how to do this.
2. Carry out a brainstorming session
Refer this blog post if you want to learn further about Brainstorming, but the idea is simple. You have to stay in a calm place with no distractions and think.
Imagine you are stuck at the place you love the most and nobody forces you to do anything (By the time I write this, I know most people are stuck in their homes due to COVID-19). Further, think you have no financial obligations whatsoever which would affect your thinking.
So what would you start to do? You will take a break obviously for weeks, because you are tired of the work you do. After that you would want to start something you like. That thing you want to start is what you should start!
you may need few days or even a week to identify what you really like doing. Remember, I told you. This is the hardest phase of the whole process.
3. Establish your purpose properly
Here, you are not doing this for money. So you need a clear purpose. If you do what you love and other people like it, you will start earning. Do not place money in first place.
For example, someone whose passion is cooking would set a clear picture of what he/she needs to achieve.
4. Find your niche
A niche is a specialised segment of the market. You have to clear out which market segment you are going to serve. The golden rule here is ‘do not try to serve everyone’.
Take a photographer for example. There are so many areas where one can specialise and master such as wedding, event, model, child, food and so much more. Do not make your decision based on monitory expectations. Yes, it is true that some niches are more profitable than others. But here, you are not gonna caught up in another job. You are gonna do what you love to do each and every day. Later on, you can always add products for other niches. Just start with what you really like doing.
5. Carryout a Competitor Analysis
There may be already established businesses similar to your idea. You can search them in local business directories, in the web or in social media.
Study those businesses and see how they do it. Analyse information like their business names, logos, colour schemes, product or service types, pricing, marketing channels.
If your idea is a brand new one, still you can find some businesses in the same industry and see how they operate. Especially these information are important for you in pricing.
6. Establish your USP
Find your USP, The Unique Selling Point. This is the reason how you differentiate your business from the rest of your competitors.
You need to have at least one to stand out in the market if there are so many competitors.
For example, if you are making cup cakes and you make it with zero sugar in it, you are way ahead in the business. So you can use that one selling point to attract a niche to your business in no time.
7. Create a brand name and a logo
Rule of thumb for selecting a brand name is that it has to be simple. If you are starting up a clothing line, you can have your brand name as ‘Mandarine’ for instance, and it doesn’t always have to be something with the word ‘clothing’ or ‘fashion’.
If you search Apple in Google, the first result you get and the other six and half billion results are not about the apple you eat 🍎, and most of the results are about Apple computers.
Try canva.com to create a logo for free. It’s easy and you can use so many options they have given free of charge to create a logo. If you want to learn more about how to use canva to create these, watch-out this video.
8. Create your first marketing plan
Marketing is not just about advertising or promoting your brand. There are so many aspects you have to consider when developing a marketing plan. I will brief out few important steps to follow.
Identify your product (which you have already done) and finalise its specifications
Set a price for your product
Plan where you are going to sell your product/ service and how you are going to find your customer
How you are going to promote your product/ service and which media you are considering to use
I will make an in depth post for this area only, because otherwise this is gonna be too long. Make sure you subscribe to our newsletter in which we send you email updates on the new posts.
9. Learn digital marketing
Whatever the business you start in 2020 need to be on internet. Either you have to create a website or you have to use social media. I recommend using both.
Choosing the right social media platforms for your business is important. it solely depend on the type of business and you can choose between Facebook, Instagram, twitter, LinkedIn and there are more.
Creating a website and carrying out the required Search Engine Optimisation (SEO) to rank in top results of Google is another important thing for your startup.
There are so many things to learn in this subject area and we will learn step by step.
10. Get your first customer
Now this is a challenging part of your whole business. ‘The first customer!’.
If finding a customer for your product or service is difficult, try talking to your family, friends, or a relatives or use your already established corporate links if any.
This is a disappointing step for most startups. So if you ever feel like quitting here, remember why you started at the first place.
11. Keep a source of income until your business takeoff
The business you started on your passion would not start generating profit as soon as you start it. So do not quit your job to pursue your business. Give it some time.
12. Make your business legal
When your business is serving some customers, its time to register your business in your country and start a tax file. This way it is easy to work with corporate clients and your brand become more trustworthy.
After you register your business, start an account in your bank and start maintaining a strong credit history from the beginning.
Now you have turned what you really love to do into a profitable business. It’s important to develop the business mindset from the beginning of your business so that you can think of brand-new ways to make profits and new investment opportunities.
Tastag team is available to help you clarify any doubt if you wish to start your business. Send us a message.
Develop your business into a phase where it will make profit without your direct involvement. Because, life is not even about caught up in a single dream!
Many businesses are being temporary closed due to this pandemic situation without even an opening date. We are passing a desperate time of the mankind and we should face it together.
So many companies are facing their worst time ever in business. Here, I will be talking about businesses in general which are affected by the situation.
For the ease of study, I will split up the businesses into three different categories based on how bad they are being affected. These strategies I discuss would be practical learnings for small and medium organisations. First, understand where you stand and work from there.
If you were in construction, production, restaurant or retail clothing for example, you belong to this category as you can not continue doing business at all in most countries.
Following strategies and steps can be used to minimise the losses for the businesses in this category.
1. Seek out government support
Most governments are willing to help businesses at the moment. If you are a tax paying business, they would help. Grants, loans, tax reliefs are some of the ways they support. Remember you would only get half of the help you ask for. So ask for it.
2. Talk to your bank
If your business had a strong relationship with the bank, now it’s time to test it. They can extend your over drafts, give you debt moratoriums or they can rearrange your loan periods to reduce the monthly instalments.
3. Try a merge operation
Though your business is totally closed down, there are some businesses still functioning which are in category 02 or 03. Think about how your resources can be shared with them.
For example, you are a travel and tourism company with a fleet of vehicles and drivers temporary closed down. There would be so many grocery retailers out there without their own fleet of vehicle to deliver customer orders or essential goods. Make a quick partnership with them.
See how Uber is moving from category 01 to category 03. They could have simply ended up in category 01 creating tremendous losses with the lockdown.
4. Think about the possibility of home delivering your product
More people stay at homes and if you are a business with a product which can be home delivered, though you haven’t done it before, this is the time to think of the possibilities.
6. Focus on the markets you can exploit
If you have multiple businesses in different industries or markets, this is for you. Check whether you have one business in the portfolio which can be used to serve the community.
Allocate your resources to that business or the market to provide the best service. Try to focus on that one business you can yield and stop worrying about other businesses for a while.
Eventually you can consider whether there are any synergies you can create with other businesses to improve your service.
Category 02: Less affected businesses
Companies which can continue their operations even in the lockdown by working from home belong to this category. Most IT companies fall here.
7. Think of new ways of doing business
Some companies which started working from home might already have realised how much cost they can save with such approaches. There could be better ways to do business and we just don’t realise them.
8. Explore new markets
For example, if you are an IT company previously focused on creating software products for international markets currently with a staff working from home, think about what products you can create to your local market to help them in this situation.
There could be plenty of possibilities. Social distancing is creating so many opportunities for online and software products. People need better payment methods, new ways of retail shopping, even brand new ways of dinning.
9. Help the community and the businesses to survive
Take this time to create a strong relationship with the community. It would push you forward and help your company thrive even after the lockdown.
Help other businesses to survive.This is a time we should help each other and stand together.
See this example of the Sri Lankan tech company, Bhasha lanka pvt ltdwhich has taken the initiative in its capacity to help the community while building up a great business. Shophere is a platform for small retail shops to sell their product in the COVID-19 lockdown time and this became a great relieve for the affected people to do their shopping of essentials.
I repeat. Creating an authentic relationship with the community is priceless for any business in this era.
Category 03: Businesses with no substantial effect
Businesses such as grocery retail, online entertainment, digital products, fall in to this category and these businesses in fact getting more sales than anticipated as a result of the lockdown.
Remember, you are lucky. But you have a duty to the community at this dark hour.
10. Use resources wisely
You would probably be not ready to handle the instant demand from your customers. Short term staff requirements, capital requirements, and other service requirements would arise. So be ready to hire more people, invest where ever necessary and make ties with other companies to deliver your best.
You can help the community while helping other affected businesses as well.
Which businesses you have seen carrying out their marketing in a more responsible and human way even achieving their business targets? Comment below
That’s the beauty of modern marketing. More you help, more you make!