INTRODUCTION
Startups play an important role for economic growth But the current crisis is challenging the creation and the growth of start-ups. How to deal with the current challenge to better prepare the future.
The Impact of COVID-19 on Startups
What are the consequences start-ups and small businesses face now ?
CREATING NEW CUSTOMERS/ LEADS
Reduced on face-to-face meeting. New customer acquisition is challenging
INABILITY TO WELL FUNCTION
Daily operation, Laying offs
CASH FLOW
Revenues declines. making expenses very high
SIGNIFICANT DROP IN DEMAND
supply chain have been unable to work smoothly, pricing become a big challenge.
“This is a challenging seasons for all the entrepreneurs but the ones who take the right decisions right now will come out as tomorrow’s game changers.”
CHALLENGES = OPPORTUNITIES
How to deal with these consequences?
Adopting Home Office
Reduced Infrastructure Costs
Optimized Costs
Focusing first on the easiest and fastest-paying projects to build cash flow.
Focus on existing customers
How might you use your existing assets to temporarily serve new market demands?
Support to customers in a time of adversity can potentially create lasting goodwill and trust.
Take advantage of Digital Marketing
blogs, email, social media are free or low cost
Virtual Selling
Make use of e-commerce platform
Let your network know what you’re doing!
Customer Input
Pay close attention to what your customers are saying when you engage with them.
Review your Business model
Identify & pursue entrepreneurial opportunities
ENTREPRENEUR ATTITUDE FOR 2021
what attitude will successful entrepreneurs of tomorrow possess?
