By Stephen
Starting a business today has become less conventional in approach. This is because the shift in how customers are reached is rapidly changing from the traditional method to a non personal interactive approach between buyers and sellers. Now, trading and other forms of businesses happen online without necessarily needing a physical contact.
With this change, here are four things that we think you don’t essentially need to have before establishing a business today.
OFFICE SPACE
It used to be a no-brainer that as a business person you would surely require a physical location to meet your customers’ needs. In modern business climates, this line has been altered as business deals are sealed online. An active social media account can be tagged as the new “office space”. You can run a full business all from an Instagram page.
A HUGE MARKETING BUDGET
With the dominance of the internet, traditional media have become less relevant. Advertising carried out through Television, Radio and Newspaper used to be a big deal for businesses in the past. Fortunately, with social media you can engage in online advertising requiring just sufficient internet subscription. Through this, you cheaply bring your products to your customers without consulting traditional media outlets.
TOO MANY STAFF
Depending on the scale of your business, you might realize you are increasing costs on staffing your business. Usually, business would have peripheral staff like security personnel, cleaners, front desk officer etc. Going virtual erodes these staff portfolio as they are eliminated in modern business climes.
THE PHYSICAL PRODUCT
If you are planning to go into the sales of physical products like fashion wears and cosmetics. Chances are that you don’t need to have the physical products before starting the business. As a matter of fact, you will realize that you may not need the physical products even before making your sales. This is because with modern trends you can have suppliers on standby who are ready to deliver the product on request.
