Stories of optimism emerge as small business owners respond to changing market demands despite the struggles of the last several months. Many business owners initially thought the situation is beyond despondent. However, perception eventually shifted from struggles to opportunities.
Global website hosting and marketing solutions company Bluehost issued last year a survey from 500 small businesses with under 100 employees if they adapted to online platforms and e-commerce, and if they have a positive outlook on these changes. Naturally, the survey reflected that most business owners are concerned with having new customers, declining consumer demands, and prolonged negative effects of the pandemic.
The encouraging part of the survey is that 72% of small business owners remain optimistic. Small percentage out of the 72% recognize the value of digital presence and e-commerce as a part of a post-pandemic business strategy. Additionally, 48% of the small business owners surveyed assume that a physical store is unessential and only 20% plans to reopen their physical stores this year.
With the figures given, almost 50% of small to medium-sized business owners assessed that a physical store/office is something their business does not need yet. On top of that many businesses are being created amidst the pandemic, thanks to opportunities presented through the digital platforms and e-commerce.
Why do you not need a physical store or office yet?
A physical store or office validates a business as a legal entity, at least it is the impression some of the consumers think. But with the changing landscape of world economics, a physical store/office is perceived as unessential, for now.
If your business was badly hit by the pandemic and plans to bounce back, not having a physical store is out of the question. But if you are considering to reopen, you can ask these guide questions below to see if you need to build and have one now:
- How much can you spend on rent?
- Have you considered the build-up cost?
- Who will help the customers in the store?
- Can you afford to hire staff for the store?
- Is the store location visible to target customers?
- Can your business run online?
If you answered NO on most of the questions above, it is time to accept that you are not ready yet to open a physical store. Do worry not and move on. Based on the data released by the U.S Department of Commerce, customers have welcomed online shopping with open arms. This means a business can thrive without a physical store but has to have a solid online presence.
But there are reasons why businesses opt not to have a physical store. It is not a reason but an advantage of not having a store. How can you benefit from NOT having a physical store but an online presence/store?
- Without a physical store, you can reduce expenses. Space rent is not the only expense your business needs to pay for having a physical store. There are other spaces related expenses too like renovation cost, furniture and equipment, monthly utility bills, and your employees.
- An online presence can expand your market. This advantage can work for businesses with or without a physical store. The keywords are online presence and e-commerce. Especially for retail businesses, the absence of a physical store gives a business focus on digital platforms and e-commerce. It expands the market beyond the passersby and people live in your area.
- The lack of a physical store gives you a chance to grow your online presence, and the opportunity to go global. Every business aims to go big and global.
- For your safety, skip the physical store for now. Whether you believe or are skeptical about COVID-19, not having a physical store is a step towards your and customers’ safety. If you are a skeptic, the absence of a physical store saves you from controversies.
Moving forward with a virtual assistant
True, a business can continue its operations without a physical store or office, but it is certainly paralyzing without you and your team. Ideally, it will be advantageous if someone from your team can help you jumpstart your transition to digital platforms at the same time can adjust to the new work setup — remote work.
One of the indispensable resources a business owner could have is a virtual assistant. Virtual assistants recognize the importance of online presence and e-commerce value to small businesses skilled and experienced in a remote work setup.
A virtual assistant can start your online transformation journey by using various skills and knowledge in the digital marketing field. These are the following:
- Technical skills include:
- Setup and development of a website
- Webinar set-up
- Optimizing social media pages
- SEO and keywords
- Set up and integrate systems
- Troubleshooting and technical support
- For creativity, skills can include but not limited to:
- Graphic design for social media and websites
- Content writing for blogs, email automation, lead generation, and social media
These are just a few of the tasks your business needs to take off in the digital world. An article by Forbes on online business success contributes most of the online successes to outsourcing. The article quotes David Ogily, an advertising icon, as: “Hire people better than you are, then leave them to get on with it.”
Success does not happen overnight
A physical store or office can certainly help customers connect to you personally but with the pandemic still lurking around, and even predictions go beyond post-pandemic, this an aspect of business that is not required.
Even with a brick-and-mortar business, an online presence is something a business should establish. It is a must for a business, small and medium or brick-and-mortar and digital, to hire someone who can accomplish tasks and is ready to take on changes anytime.
If you have not found an ideal team player for your business, VALUE Virtual Assistants is here to provide the staffing solutions for your business needs. Our virtual assistants are talented, experienced, skilled, and reliable. We have the support you need. We are easy to reach, just go to the link below and let us talk.
