Starting a new business might be challenging enough due to the amount of paperwork and organizational procedures to consider; however, it is important to make your business recognizable throughout its geographical location and within its community. It is beneficial to gain that “city’s respect” from the first days of your operations due to several factors:
Attracting Talent.
You want to make your business a desirable workplace for potential, highly skilled employees. You want to attract energetic and ambitious talent to work for you and grow within your company, so you must establish a good name in the job market. When your company is still new and unknown to the community, it won’t attract many professional candidates because of the competitiveness among employers. Yes, that’s right – the job market is competitive not only among job seekers, but also among those who offer employment. The bigger the city, the more competitive it is. You must establish your business as a stable workplace that offers good compensation, a healthy work-life balance, inclusivity, and competitive benefits. Your community must recognize you as a reputable business. You might still be new on the market, but if you do everything needed to earn a good name, you will attract skilled talent that would want to grow within your company. That’s why it is important to engage with your community in the early stages of your business development. However, even if your business is still not financially viable, you can still attract talent by positioning yourself as a supportive employer open to discussion, negotiation, and a willingness to offer a healthy work environment. Remember, money is not everything; when it comes to traditional employment, people seek mental comfort and emotional stability. Also, you must provide your potential team with a purpose – many talented candidates would love to help you grow your company and improve their skills within it, but you must portray yourself as an ambitious business operator looking to grow within a short period of time and needing supportive employees to help build that success to professionally strive after its achievement.
Community Engagement.
Earning a good name is also essential for attracting clients. In the early stages of your business development, you won’t be able to compete with bigger names; however, you can still win the love and support of clients by staying down-to-earth and establishing good relationships with your community. A good name speaks for itself, and trust me, the word will spread throughout the whole city. You must gain trust not by offering something that others don’t have, but by establishing close relationships with community members that bigger companies lack. Customer loyalty can be boosted by supporting the local community through various actions, such as buying from local suppliers, hosting workshops for skills improvement, offering internship and mentorship opportunities, and donating to local nonprofits. Establish good ties with people who will notice the benefits of your business, and they will ensure that they provide benefits in return.
City Funding.
Getting funded by the city might be extremely helpful, especially in the beginning when you don’t have financial stability, so you must prove that the city needs your business and that the community will benefit from it. You must show that your company is not just another startup that will shut down a few months after its opening; you should represent it as something loved and wanted by the community. Align your vision with the city’s interests and values. Your product or service must be beneficial and affordable to locals. Investors look to support entrepreneurs who are genuinely committed to the community and can offer great service, expertise, or a good-quality product at a reasonable price range. You must demonstrate market understanding; display the current and potential customer base; show the potential for growth opportunities and the minority of risks. Make your company desirable to people throughout the city. Make people work for you, buy from you, and learn from you. Community support is the key to attracting city funding for your business needs. Also, show your commitment to sustainability, as it is important to city governors. If you produce something, make it eco-friendly and adopt sustainable business practices. Demonstrate that you are dedicated to a positive social impact by standing strong on your values of being environmentally friendly while running your company.
Your business must be recognized throughout the city not only for marketing and advertising purposes, but you also need to earn people’s loyalty. In other words, it is not enough for people to know about you; they need to trust you. If you gain that support from your community, your business will thrive, improve, and grow. Establishing good ties within your community will spread your good name throughout the city, attracting more loyal customers and potential highly skilled employees. The secret to the success of every business operation lies in people. You create for people, you serve people, and your company benefits from people, so make them and their needs the priority when operating your company.
Viktoriia Kolomiiets | Writer
