The Value of Starting a Business During a Pandemic
It seems to be a situation that is never-ending. The pandemic has caused major upheaval in people’s lives, but in terms of business, it has yielded a very mixed response. The hospitality industries have suffered, but there have been many examples of individuals who have started their business in the midst of a pandemic and have made a success of it. When we are looking to flex our entrepreneurial muscles, the challenge of starting a business during this tough time is when we’ve got to step up, but we have to remember the values of starting a company during tough times. With this in mind, what are the key values of starting a business during a pandemic?
Do Not Just Focus on the Medical Side of Things
Of course, there is value in providing help during this time, and it is the one with the most immediate return. Many entrepreneurs will consider selling face masks, alcohol hand gel, as well as delve into the other side of things, such as a vaccine prep cart and the raw materials associated with the vaccines, such as vials and needles. But it is important to think beyond these. One of the biggest oversights in running a business is that we cater for the here-and-now, and of course, it’s natural instinct to want to help. However, if you are considering delving into the medical side of things, you may want to diversify your efforts, for example, providing services that help with mental health.
Reconsider Your Sales Processes
Everybody has made the move over to Zoom, but as businesses are changing their tact, we must remember that we remain professional, despite the different environment. Virtually speaking, it can be more difficult to promote yourself, especially if you are pitching to clients. However, you must provide more value upfront, with a number of different tools, for example, Ebooks, tools, and guides.
Will We Benefit When the Pandemic Has Passed?
Many companies choose to start a business during a tough time, and this is not the first time it’s happened. After all, we’ve got a century’s worth of evidence to show that starting a business during tough economic times can yield benefits. However, we must remember that there could be a certain time span depending on the nature of your business. If you are looking to provide immediate help as a result of what is going on, you have to debate whether the flexibility of the company will work for you in the long run. As we provide immediate help, for example selling alcohol hand gel or face masks, these are going to be lapped up by the general public; however, does this figure into your five-year plan? While it may not be a type of business you would take to trade shows, there is still value in providing help for everybody during this time. But we have to remember that the value in providing help is not something that is exclusive to what is going on right now but can help us, and our customers, for many years.