What Are Types of Small Scale Businesses That Can Go Digital & How To Begin
Small businesses are the building block of any economy. With the rise of digital platforms, traditional businesses have started moving to online business models. Over the years, it has become more clear that this is not just a trend but an evolution of modern business models.
In order to survive, every business must adapt to these changes. Most businesses are quite suited to go digital with some small changes to their day to day functioning here and there. However, there a few small scale businesses that are already ripe for the plucking.
4 Small Scale Businesses Ready To Go Digital
- Online Accountant
Filing tax returns is an important step in managing your finances. For businesses, the balance sheet can get really complex, which is why many businesses depend on accountants for maintaining them.
There are many accounting software available online as well. However, a layman cannot get work done on it. You still need a trained pair of eyes.
Online consultation is a great avenue for accountants to find clients and get their work done from the comfort of their office space. The clients can send over their ledger and have their taxes filed and not worry about it. Since the job itself does not need a lot of physical interaction, it is perfectly suited for a digital transformation.
The introduction of GST saw even small scale businesses turn to an accountant to understand how to file GST annual return. Accountants have since then found the business even more lucrative. Going digital means expanding beyond your local client base.
Businesses trying to take advantage of the tax breaks mentioned in GST and the ever-changing set of rules do not care if their accountants don’t come to their location to get the job done, as long as they have the latest news on GST.
- Tuition Classes
If the Corona crisis has shown us anything, it is that where there is a will, there is a way. Always marked as a hands-on task, live teaching has easily adapted to the digital platform. Teachers who have been in the profession outside of the institutional classrooms can now find and teach students across the globe.
And it is not just related to academics. From science to painting and history to classical music, all subjects have a way to be taught online. One just needs to find the right balance.
Teachers are able to conduct classes over online platforms and with a considerably more number of students than they would be able to handle face to face. Files can be shared, presentations can be given, and hands-on practice achieved, all thanks to the tools that come inbuilt with online classrooms.
Furthermore, this allows students to have the environment of one-to-one studies from the comfort of their own homes while learning alongside a hundred others. The teacher also has the opportunity of conducting classes at any place, any time and this flexibility makes the idea of taking tuition classes digital even more lucrative.
- Medical Consultation
Although medicine is one discipline, nobody suggests practising blind, but for many cases, crowding a clinic is just counterproductive. Smaller and superficial ailments can easily be treated by hearing out a patient’s problems and getting a diagnosis. In the case of more specific visuals, patients can even provide a picture of affected areas.
For example, for something like a simple skin or hair consultation, or a nutrition consultation, one need not visit a clinic directly. They may choose to state their problems and symptoms to the medical professional and get a diagnosis. In case there is more there than meets the eye, the doctor may choose to ask the patient to visit them or get tested for one ailment or another.
- Local Marts Go Online
Of the many small scale businesses that are the building blocks of our economies, a big role is played by local supermarkets. These small shops are important to the supply chain, as well as in keeping money in the market. And today, they have all the potential to go online.
With hundreds of aggregators flocking the market, buying from the local store has gone mobile. To keep up with the times, every small shop is recommended to either join any of these networks or find their own app or website which the locals can order from. This not only increases their reach tenfold, but it also positions them as competition to global conglomerates.
With the state of the economy as it is, going local is the only way to ensure it doesn’t falter. Local shops going online is a step in the right direction for making it work.
Going Digital: The Know Hows
A lot of the times, suggestions like these are easier said than done. However, when it comes to going digital, it is just as easy to get done as it is to plan it. One just needs an internet connection and some street smarts.
The first step is understanding your business and what is the best way to take it online. For consultation work, a website and a dedicated email are perfectly fine. For classrooms, one needs to subscribe to a service like Google Classroom or Zoom; they are mostly free unless you need more services. And for the local Kirana stores, an app would be the best way forward, but a website should work fine as well.
In order to succeed, promotion is key. Using social media is the best way to spread awareness about your new venture. Let your clients know that you are now available from the comfort of their homes and attract more customers with the same promise, at the same time. Social media is effective.
Last but not the least, know your consumers before you make the shift. Taking a business digital requires some investment on online platforms. If your customers don’t feel comfortable with the new business model, you may end up losing clientele as opposed to gaining more. Do a little bit of research to understand the consumer mindset before you take the first step.
Almost all businesses today have the potential to go big online. You only need to take a careful first step to start reaping benefits.