Having and maintaining a career has become a top priority as years come by, especially for Millennials and Generation Z today. But to think differently, starting and running your own business goes after on the lists. Since having a job may come and go. And with the start of another year, others may think about starting their own businesses. If you’re part of this, you might want to know what the dos and don’ts are, as well as the trends in starting a business. So, follow along to learn more.
1. Choose your style and match the market’s interest.
In the guide of Sara Williams entitled Guide to Business Start Up 2021-2023, it stated that some may think of running a business but do not excel because of their doubts. That’s why self-analysis is more vital than the self-selection process. Or in the simple term, “knowing thyself”.
After you understand the process of self-analysis, try to match it up on the market. Choose the market that interests you. Research about how to connect with them on a daily, monthly, and yearly basis. For instance, if you love to cook Korean food and love the feeling of sharing your cooked food with others, choose a target market that suits your interest.
It is also stated by Williams that there are 2 ways of choosing an idea for your target market. (1) Using an established skill, product, or knowledge; in general, this gives you the greatest chance of success. (2) Identifying a market that looks ripe for development by your business and acquiring the necessary techniques and knowledge.
2. Be updated and always seek new information from your customers
Social media has a greater factor in discovering and making different trends. We all have seen the power of social media platforms over the years. But as those trends gravitate easily, they may vanish into thin air without a second thought. That’s the reason why some businesses in the Philippines closed after the lockdown, aside from the economic struggle of most businesses.
Either way, various marketing trends affect the customer’s purchasing behavior. Today, online shopping and ordering food online hype up more each year. In the study about Factors Influencing Consumer Purchase Behavior on Food Delivery Apps (Flores et al., 2020) in the country, 64.7% of the respondents are using food delivery services on their phones. While 94.50% prefer to order food using a food delivery app than lining up the physical stores.
3. Don’t be afraid of partnership
There’s a saying that “There’s no man in an island”. Humans can breathe on their own but making connections with other people makes their existence more significant. Same with the business field. So before starting a business, consider making partnerships with others. This will open more opportunities for you and your target market.
As mentioned above, food delivery applications mold the buying behavior patterns of consumers. For that reason, always consider partnering with a food delivery app. This will help you handle more orders, maintain the quality of your menu, and widen your target market. With that, check out the newest and fastest food delivery app in the Metro today, the LAHAT FOOD. LAHAT FOOD is a Korean food delivery in the Philippines.
They offer Korean, local, and other Asian cuisines. Grocery stores, pet shops, and even franchises are now available on the app. The good thing is they have the lowest commission rate across delivery applications in the country. This is a sign to start your own small business for 2024 with LAHAT FOOD! To learn more, visit this link or check our social media accounts.
REFERENCES:
Williams, S. (2021). FT Guide to Business Start Up 2021-2023. Pearson UK.
Flores, J. K. U., & Castaño, M. C. N. (2020). Factors influencing consumer purchase behavior on food delivery apps. International Journal of Business and Economy, 2(4), 25-42.
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