The New Normal
As lockdown is gradually being lifted in the UK, we are all wondering how life in general and business in particular will continue to change.
Here at Harrison Dear Sales, we have noticed a new trend emerging in our business over the last few months. Before the pandemic struck, most of our regular clients were global corporations but this has started to change and we are now seeing many new, smaller clients come to us – podcasters, influencer marketers and digital marketers. And most of them are startups.
Data from Companies House showed that a record breaking number of new businesses were formed in the UK in June 2020 as budding entrepreneurs saw lockdown as an opportunity to start a company.
Despite the fact that many established businesses found COVID-19 the biggest existential challenge they had ever faced, startups seem to have been undeterred by these problems and found innovative ways to take advantage of new business opportunities and forge ahead.
It seems that people have used lockdown to reassess what’s most important to them and what they want from their career. Many have created a business around a hobby or passion rather than based on their work experience. And although earning more money is a driver for many, balancing this with more flexible working seems to be just as important.
Challenges for Startups
For new companies with limited cash flow there are many challenges to overcome. An interesting survey by CBInsights asked 101 startups why they thought they had failed. Here are the results:
- 42% of startup businesses fail because there’s no market need for their services or products
- 29% failed because they ran out of cash
- 23% failed because they didn’t have the right team running the business
- 19% were outcompeted
- 18% failed because of pricing and cost issues
- 17% failed because of a poor product offering
- 17% failed because they lacked a business model
- 14% failed because of poor marketing
- 14% failed because they ignored their customers
23% failed because they didn’t have the right staff.
Startups often aren’t able to identify and communicate with the pool of recruitable talent and so they have difficulty attracting and retaining top applicants. Finding talented, motivated candidates is essential to establishing and growing any company, but for startups having the time and resources to bring in the best candidates can be difficult.
Trusted Industry Experts
At Harrison Dear Sales, we have a wide ranging knowledge and passion for the media sales industry. Our new startup clients have approached us as trusted industry experts to find the ideal candidates for their roles. At the end of the day, recruitment is all about people and matching client and candidate. We take time to learn about the culture and ethos of their business so that we will know what sort of personality and experience their ideal candidate will have.
Nikki Shack, Director of Harrison Dear Sales commented, “In 2021, we have placed candidates with many small clients we’d never heard of before the pandemic. We’re delighted to welcome these new startup clients during such challenging times. They tell us that they want to partner with Harrison Dear Sales to find them senior commercial leaders and solid sales people to join their energetic, rapidly growing teams. We are excited to help them develop and watch them grow.”