30 April 2020 - 14:11If there’s anyone who knows how tough running your own business is, it’s entrepreneur and investor, York Zucchi. He’s not only supported small- and medium-sized enterprises in more than 83 countries through his initiative The SME Movement, but also started numerous businesses of his own over the years. Not all of them, he is quick to admit, have been successful.
“Just because you’ve always done things in a certain way, doesn’t mean that’s the right way,” he says. Have you realised over the past few weeks that you don’t need huge headquarters? Could you save money by buying into the co-working trend? Use this time to look at your overheads and figure out where you can slim down.
When a potential client looks at your profile or your website, they should be able to tell straight away exactly what you do. Your offering should be focused and specific, rather than generic and high level. There is a lot you can do that doesn’t cost money, suggests Zucchi. “Did you know that 87% of entrepreneurs or managers are on LinkedIn? If you are serious about your business, use this time to change your LinkedIn profile so that people really understand what you sell,” he says. “Once you have found your niche, and start sharing practical knowledge around that, people will know how you add value to other organisations and people.
“We often want large corporates or governments to buy big contracts, and commit to long-term contracts and large consulting deals, but with the rise of SMEs, the biggest opportunity I see for businesses is to break down what we sell into much smaller components,” he explains.Zucchi is a firm believer that it is virtually impossible for a business owner to be successful without having gone through failure. “It’s not the end of the world if you need to close,” he assures.