Covid-19 pandemic is urging Entrepreneurs to think Digital
While we are sitting at home, some trying to keep themselves busy with lost hobbies and passion, while some started enjoying the work from home and now realizing that why did we not do it from the day one. Amidst this we haven't realized that the world has taken a leapfrog in terms of how the communication, working structure and many other things. It’s a way of the world to force us to drop legacy systems and methods and move to more efficient and newer once.
The world has witnessed many unprecedented events since the beginning of this year, which eventually led to the drastic transformation in the nature of the business. With the advent of the digital technology, a lot of businesses were already making a shift towards it but the recent occurrence of the pandemic, a lot of entrepreneurs, business leaders are taking their respective business virtually to keep the momentum on.
The current situation has compelled many start ups, entrepreneurs to revamp their business strategies in order to run the smooth operations. Entrepreneurs are migrating their operations on digital platform. The current situation if talk about business particularly goes by the theory of adaptation or the survival of the fittest. Currently it is imperative to understand & analyze the market and explore the new avenues and the online presence to sail through.
With the remote working culture, social distancing, self isolation being the new normal, its likely to get drawn towards online product & services be it education, entertainment, retail, healthcare, technology and many more
With the remote working culture, social distancing, self isolation being the new normal, its likely to get drawn towards online product & services be it education, entertainment, retail, healthcare, technology and many more. It's the apt time for the start ups & entrepreneurs to tap their audience and be in the constant communication regarding the brand. Start ups should act as per the situation and leverage the current situation in its favor by the sheer diligence & smart ideation.
With the estimated 574 million monthly active internet users in India which is growing exponentially due to lockdown. Most of the people have the tendency to look & research about the product online even if they buy it offline later. Being on the digital platform gives an ample amount of opportunity to reach out to such patrons; more than half of the job is done there.
People like to go by the testimony of the brand from the authentic source; it helps them to make the wise decision. Having the digital presence helps in such scenario and showcase the existing clients' experience to the potential ones. Geographical barrier is not a hassle to make the brand's presence in any corner of the world.
I believe this is the time for startups & entrepreneurs to maximize their reach and expand themselves. Crowd funding also plays pivotal role in the current situation. This is the best time for entrepreneurs to do crowdfunding campaigns to validate ideas since a lot of investors are evaluating projects.
Subsequent to this lockdown, entrepreneurs who have used this dead period to validate ideas can straight jump to execution. With the right strategy and optimal approach, it is the time for entrepreneurs to work on some great ideation and planning so that it can be executed successfully and can subsequently gauge the investors' business interest.
At the end, it's all about turning any opportunity in your favor, with this approach; entrepreneurs can leverage this in their favor considering the scenario. This is the time to work on great ideation, which can reap benefits eventually. The right execution post lockdown is going to gauge a lot of eyeballs in the business ecosystem.
A lot of investors are on the evaluation period, which indirectly/directly an opportunity for all the entrepreneurs to present their business model more efficiently. Those who have been thinking all their life that they have this great idea but never got the chance to go ahead with it because of busy days and work, this is the time for them to dive straight in to it and start the project with crowd funding.
We have been helping entrepreneurs online and offline all the time, currently we have lot of entrepreneurs who we help in many ways of finding them new revenue sources, become more innovative at this stage, we even work with them to see if they can create anything which be of help in the current circumstances which might be temporary but helps the society and the entrepreneurs.