Uploaded on Dec 23, 2020
PPT on How startup entrepreneurship will change post COVID-19
How startup entrepreneurship will change post COVID-19
HOW STARTUP
ENTREPRENEURSHIP WILL
CHANGE POST COVID-19
INTRODUCTION
• The pandemic of COVID-19 forced entrepreneurs to
scramble all over the globe.
• Businesses operating in a conventional workplace
environment have been pressured to come up with a
home-work strategy; in fact, 42% of the U.S.
population is still employed full-time from home.
SOURCE: www.entrepreneur.com
BUDGET
• Many that counted on service consumers in person had to
work out a way to provide or serve online in any capacity.
• And of course, in addition to the economic effects of the
pandemic, many entrepreneurs have had to fully rethink
their budgets.
SOURCE: www.entrepreneur.com
REMOTE WORK
• The transition from home to work has become one
of the most visible changes forced by the COVID-19
pandemic.
• Businesses who have considered the concept of
becoming entirely remote have made the complete
change to avoid the spread of the coronavirus, and a
new paradigm has been followed by even
businesses that were staunchly against the idea of
remote work.
SOURCE: www.ameinfo.com
ADVANTAGES OF REMOTE WORK
• Millions of company owners and workers have experienced
the advantages of remote work firsthand in the midst of this
transition, whether they want it or not.
• Employees benefit from non-existent commutes, increased
versatility and leisure time, and greater control of their
workplaces.
• They are more competitive and have higher morale. Company
owners save money on workplace costs to see their
companies prosper even though scrambling to adopt them
under these new circumstances.
SOURCE: www.shrm.com
DIGITAL MARKETING
• The dependence on digital marketing by both new start-ups
and existing businesses would be another lingering impact of
the pandemic.
• The pandemic has shown that conventional messaging such
as printed advertising or direct mailers is not the only way to
attract consumers, but by tweets, retargeting ads, PPC ads,
SEO, and hundreds of other digital marketing techniques.
SOURCE: www.disruptiveadvertising.com
INVESTMENT
• Over the past 20 years, the digital marketing industry has
expanded dramatically, but the pandemic is going to inspire
much more progress.
• This will boost additional investment on the growth and
positioning of web presence and advertisement, and
encourage emerging MarTech startups to create new
marketing technologies to satisfy demand.
SOURCE:
www.thefinancialexpress.com
FINANCIAL RESILIENCE
• The pandemic of COVID-19 taught us just how vulnerable
most corporations are, running on slim margins and
minimal resources.
• It can not last for long if an emergency occurs and an
organisation is no longer able to make money the way it
used to do.
• It is projected, for instance, that 60% of temporary
business closures due to the pandemic are now
permanent.
SOURCE: www.wisebread.com
RESOURCES
• Of course, all of this material is taken from restaurants and
other local firms rather than start-ups, but start-up businesses
are also able to learn from these lessons.
• To keep financially resilient, it would be more necessary to
have sufficient resources, cash on hand, strong cash flow, and
a tight schedule.
SOURCE: www.entrepreneur.com
FAIL SAFES AND BACKUP PLANS
• Start-up entrepreneurs would be more interested in
incorporating failure protections and contingency strategies
along similar lines.
• When one mode of service or one aspect of the organisation
fails, in order to replace them, other elements can kick in.
SOURCE: www.entrepreneur.com
REVENUE LINES
• This might manifest itself as the formation of several
revenue lines for the company, running concurrently.
• When the organisation has four different ways to make
money, it won't matter if one or even two is
unexpectedly unavailable; from those discarded paths
to more reliable ones, you will temporarily funnel
capital.
SOURCE: www.method.me
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