Tammy : Hi Ray! Happy New Year!
Ray : Hey Tammy, Happy New Year, too! How’s your New Year?
Tammy : Well, besides that I got sick during New Year, we just stayed at home and social distance us from the family gatherings, as it is still not safe to go out right now. Not too much fireworks too, so we slept early. 🙂 how about you Ray? How’s New Year?
Ray : hope you feel better now. We got similar situation too as well. Usually stay at home.
Tammy : Cool! Wishing everyone to have a prosperous New Year, good health and safety.
Ray : Yes, most of the people are saying that they wish to have a better year this year, and 2020 was just a history that everyone wants to delete. But maybe, let’s all start the right and be positive, let’s all make 2020 a lesson that we should learn from it.
Tammy : True, it’s a history that everyone should learn from, everyone was not prepared and who have thought that it will happen, the economy in every country is facing challenges. Many people are adapting to the new changes. Some are lucky to survive while some did not, but life must go on, so we continue to fight.
Ray : Very well said Tammy, the new normal has brought us so many challenges. It might not be an easy road for everyone, but there’s always a light at the end of the tunnel. Let’s stay positive for everyone.
Tammy : I agree with you, actually, that is my new year’s resolution, to always stay positive despite all the challenges. Besides its new year and a new book for everyone, make your to write a good one.
Ray : Yes, New Year New opportunity. Let’s all leave all the negative vibes in 2020 and do the right thing this year.
Tammy : I’ll probably do that!
Ray : So this is the first podcast of the year, what are we going to discuss about?
Tammy : Yes it is our first podcast this year. I and i’m really excited to discuss about Business related topics, since we are all adapting to the new changes. So I thought of discussing the business challenges to avoid in 2021.
Ray : That would be cool, and since it is just the start of the year, maybe we can share with our listeners the business challenges in 2020?
What are the Business Challenges in 2020
Tammy : Okay, while we all know that start-up or small businesses are transforming digitally for so many reasons, mainly because of their marketing strategy, the percentage of internet users are growing each year. People holding their cell phone anywhere at any time. And since the pandemic has begun, so this year, many start up businesses will probably go digital, there are keys that they need to consider for this year’s digital. Many of course had learned from the past experiences, so let me share to you with what I’ve read from different articles.
Ray : That’s true, there are things that we will learn from the past or should we say last 2020 from the digital transformation that we should avoid this year for a better improvement on your business, let me say, for example, since people go digitally rapidly, hackers or fraud are gone with high technology, too!
Tammy : So true! Like here in the Philippines, I have friend’s facebook got hacked and even my brother’s account too.
Ray : How?
Tammy : Well, one of his friend’s facebook got hacked and he didn’t know, then this friend tag him in a link, my brother got interested with the link and he opened it, actually the link will direct you to another website wherein you need to enter your username and password, and so he did. After 1 minute his facebook got hacked.
Ray : Oh! That’s so scary. And that’s how fast hackers can hack your account. So imagine if you are in a digital business, you have to take more precautions, because as digital is growing faster, they too!
Tammy : That’s Ray, so that’s one thing start-up businesses need to watch out for this year. And another thing is meeting customer needs. As advances in technology means higher expectations in terms of service and satisfaction. Whatever the nature of your business. You have to learn to respond faster to your customers’ concerns immediately. Otherwise, your company will be the talk of the mouth. Remember that blogging and social media is always present, so if you don’t want to see your company in the blacklist of customers, better address concerns effectively.
Ray : Building strong relationships and improving your company’s reputation should be on top of your priority, if you don’t want customers to go elsewhere.
Tammy : Yes, and in addition to that, you should also make people believe in your cause, this might be the most challenging part in your business.
Ray : I believe so, too. As there are a lot of competitors since the start of digital growth everywhere. You have to convince your customers and make them believe in your philosophies they believe in. Finding support from the people is hard especially if there is lack of trust. You will have to build trust and establish a stronger connection with your customer in order to get them onboard for a positive cause.
Tammy : I think this is one of the most important things these days. A lot of fraud people experience day by day, your website might be a great website, but how will people trust your website? When sometimes pictures can be deceiving too. It is important to find support from the customers and build trust with them, have good feedback and everything follows.
Ray : Let’s admit, for example you are looking for a durable water bottle and you don’t want to go branded because it might cost you a bucks. You search on the internet and 5 websites selling water bottles, which part of the website do you through first?
Tammy : Well, I go for the rating and feedback first of course, see customer’s comments regarding the products and services. And I will weigh things there and see where I will buy.
Ray : See? People are considering the rating and feedback from the company. Good reputation can have a high percentage of success rate.
Tammy : Yes, so for me, whether you are a start-up business or an established company, in today’s demand, I believe everyone should invest in technology, invest in data protection and invest in your website.
Ray : Invest in technology, which includes online sales, new payment technologies and social media
To attract consumers.
Tammy : There are a lot of things to invest actually, maybe a marketing teams, sales team, customer service, accountant. But if you do it right and planned well. I think it will be easier for an entrepreneur. Don’t be afraid to make a mistake, instead think of it as a lesson learned.
Ray : yes, and that is why we are sharing this information to everyone, so that the bad experiences in 2020 will just stay and leave in 2020.
Tammy : Since the economy here in Asia is fast growing, plan ahead to avoid delays or staying behind your competitors.
Ray : Always remember that everyone is adapting to the new normal. Go with the flow, changes are always present, many business owners may have thought the transformation of the computer might be the start and end of the digital revolution. However, almost a decade later, we are now experiencing a greater level of adoption of digital apps and programs. From the agility offered by cloud-based programs to the development of mobile apps that provide services on-the-go, entrepreneurs will continue to see a need to “transform”
Tammy : If the listeners are owning a start-up business, and everything is new to them, I suggest you plan your business model, research and do everything you need to know. Get trust from the people so boost your business.
Ray : Yes, and these are the things you should consider this year.
Tammy : That’s a nice topic for our first podcast, Ray! I hope again, that people will just stay positive and hope things will be better for everyone.
Ray : True. hoping for a better year this year. Thanks Tammy for today’s discussion.
Tammy : Thanks Ray!