2020 had shown us that we can accept so many things that are out of our control. In fact, when we stop and think, and are able to see more clearly – what has been working in the world, and what hasn’t. And, we try to direct our energies toward those spots in our lives that are within our control.
Have you had dreams of walking the untrodden path? And after experiencing 2020, have you been wondering – is this the best time now to step out and start a company? Or, if you have already took the plunge into entrepreneurship, are you having second thoughts on your decision? Is it the right time to start a new venture? It can be inspiring to remember that during the 2008 financial crisis – billion dollar startups like Uber, Airbnb, and many others were founded – partly as a response to changing market dynamics.
So, are you a forward-thinker? Can you look ahead to what’s in store for 2021? Then, you can scan current and upcoming trends, to get a competitive advantage in your chosen line of business. If you are on this road, you may be revisiting business ideas and reconsidering how they might work this time – or perhaps brewing brand new ideas (because business is all about innovation!).
Is it a great time to start a new venture? Some positive signs can be discerned…
• There are unfinished needs everywhere: There are plenty of problems and difficult times that people and businesses are trying to pass through and solve; plus there are many unfinished needs too. And disruptions galore that are happening around us.
But, there are endless opportunities too that are opening up – to create sustainable businesses that help people cope with this perfect storm of disruptions.
• Consumption of online content is higher than ever: Consumers are seeking more solutions than ever, as they are assailed by numerous problems. And, it can be seen that it has now become easier and more accessible to start businesses such as e-commerce, virtual assistant work, designer or developer, coaching or becoming a freelance writer and so on.
E-commerce has spiked by nearly 40%, after the COVID-19 pandemic hit, according to a new “Global Shopping Index” report. Consumption and purchasing behaviours have changed over the last few years; and if you are aware of that, it’s easier to spot new trends in this unprecedented times. Then, you can take a calculated guess on where we are heading, in the business world.
The world of online business is the new normal, and many successful leaders, businesses, and companies are being created.
• More time spent being introspective, has helped pinpoint our unique gifts and strengths: As were locked in our homes, we have more time to do what we love like – cooking, writing and creating – in ways that are unique to our own genius. It often happens that we doubt ourselves and what we are good at, and then it stops us from taking the next step to achieving our deepest desires and aspirations.
But, if use your talent and learn to enjoy it, your passion and energy shines through your work. So, perhaps you can dive into work, which becomes effortless and enjoyable.
• Talent pool is available: It has been observed that when businesses take a hit, industries collapse – like we are experiencing now. Economy has taken a major hit, which means a lot of people are out of work, as there have been job-cuts. A large number of experienced, talented, hard-working employees are looking for new jobs, in the market.
Under these circumstances, creating a new business and hiring a new team is a very positive move. And with so much talent to choose from, you should be able to put together a team, that can take on any challenge. Not only will you be helping those in need of financial relief (during such challenging times), but you will connect those people with new business ideas, that are truly life-changing!!
• Post-COVID recovery is inevitable…
Things may look down and out today, but there is a ray of hope. The time will come, inevitably, when the pandemic and depression will be over. Businesses that have adapted to thrive in these troubled times will be perfectly positioned to take off, when the bad times are over.
It is heartening to remember that companies founded during hard times in the past include – General Electric, General Motors, IBM, Disney, HP, Hyatt, FedEx and Microsoft. When the economy was low, it did not stop their founders. So, don’t let the current lows in economy stop you!!
Avtar Madan
Himanshu
Shree Lahiri
