Does it make sense to open a business as we are starting to get a better hold on Covid-19?
Whether they already were business owners before the pandemic or started a business during the pandemic, most business owners sensed the instability as the coronavirus changed the business world. The question is then: Does it make sense to open a business as we are starting to get a better hold on Covid-19?
A lot of companies went bankrupt in Ireland because of Covid-19 and the lockdown, but many thrived during the pandemic. Ireland is a popular place to start a business and, while Covid may have made things more uncertain, that has not necessarily drastically. So, is it time for you to open a business “after” Corona? Only you can answer that question, but here are some things to consider.
Rethinking the workplace
Without a doubt, Covid has had and still has, its negative impact on the business world, but it has also had some positive effects; it has made a lot of companies rethink the workplace to such an extent that Ireland is trialing a four-day workweek for six months to test out the efficacy and possibly replace the traditional five-day workweek.
The lockdown period has also required many people to work from home, and that has forced even large rigid companies to become more flexible. Covid turned everything upside down: traditional ways of working and rigid structures, and it has challenged our usual, but not necessarily most effective, ways of running a workplace.
Interestingly, some companies within a specific market gained more success during the pandemic than pre-corona, which is something you can learn from when starting your own business. Consider which types of companies excelled during the pandemic and how you might be able to draw inspiration from that.
Especially the companies with a strong brand had an easier time getting through the difficult period. So even though marketing and branding seem like an abstract and unnecessary aspect of business, they can help you stand out to customers, which will be beneficial regardless of Covid-19. One of the strong ways to brand yourself is to give your business a memorable name.
A strong and unique business name that sounds catchy and indirectly expresses the values of the company is a name that is easy to remember. It can be difficult to come up with such a name without spending time to reflect on and evaluate the company as a whole, but with online tools like business name generators that generate name suggestions based on keywords, you can get the right help to set yourself apart.
Learn and implement
Regardless of the pandemic, to run a successful business is to learn what works and what does not and implementing what you have learned. If you have never started a business before, it is, however, a good idea to learn about how other Irish businesses reacted to and survived the pandemic. That way, you can implement similar strategies, should your company face a challenging period.
Covid-19 has taught the business world many things. Above all, it is apparent that no matter what the state of the world is, there are services and products that people need and are willing to pay for, which enables you to potentially run a successful business.