The COVID-19 pandemic has left the world in a paralyzed state. Businesses have suffered major setbacks. Economies have undergone periods of recessionary crisis. And yet we see that there is a silver lining to even the dark and morbid clouds of this global nuisance.
During the onslaught of COVID-19, we witnessed that emergence of a new paradigm. Working models were altered and the chimneys started spewing smoke again. It is in these times that we need to realize that despite the catastrophic effects that it has brought, COVID-19 has also provided us with certain avenues and opportunities that had previously been neglected.
Most entrepreneurs would say that a time like this is ideal for testing out new ideas. Risk takers believe that if businesses can find alternate solutions, they may continue to thrive despite the change in work dynamics.
This opens the door for a lot of new entrepreneurial ventures that are designed and
implemented in accordance with the new norm.
Foodpanda, Careem, Uber and many other similar entrepreneurial businesses were the pioneers in their respective domains. At the time, their business models had not been tried and tested. Yet the risks paid off. Similarly, if the only thing stopping you from exploring and executing a new business idea is the pandemic, think of it merely as another regulation that you have to abide by and circumvent it by deploying counter measures.
Recent times have seen a steady incline in the growth of small businesses. They have taken their root product or service, and have elevated it. This is what you need to do. Have faith in your business plan. There are many platforms where you can seek the necessary guidance and support in order to move onto the next step. Utilize the resources and opportunities available to you. Do not shy away from the risks involved. Higher the risk, higher is the rate of return.
There are many sectors of the industry that are expected to grow exponentially in the wake of the COVID-19 pandemic. It is these segments that need to be cultivated to the maximum by infusion of fresh blood and fresh ideas. Young entrepreneurs are the need of the hour.
So get out there; do your research, revise your business plans, come up with innovative
strategies and find the right kind of support to help you along.