Five Takeaways For An Entrepreneur From Pandemic

Entrepreneurship can be a tough and long journey for most people, but it surely is a fulfilling one. Somehow it’s a journey of perseverance and self-discovery, and it's an open secret that no year has been as testing as 2020. The world has been presented with its greatest fear: an ever-changing pandemic that forced global business communities at large to pause in confusion, in panic, and distress. Leaders across the disciplines have been pushed out of their comfort zones and have had to adapt to new market dynamics and strategies. Like many of the other owners of self–funded business estate, I had built-in contingencies and agility for anticipated curveballs, and yet, I was not prepared for a radical market shift overnight. This pandemic has forced us, as a community, to unlearn and redo our business priorities, strategy and vision to adapt to the new normal, probably for the first time in a very long while.

Not only professional level change, but personal evolution has also taken place for almost each one of us. The time that each one of us has spent with ourselves has allowed us to contemplate and redraw the canvas with revised blueprints.

So here are some of the really important lessons this unfortunate and daunting global pandemic has taught me as an entrepreneur: 

Be Dexterous

When the lockdown was announced, we woke up to a sudden spike in client order volumes, which none of us had predicted. It has taught us that we must act fast and make decisions keeping customers at the forefront. Sometimes decisions are reversible and do not need second thought especially when time is of essence.  I learned that every opportunity (even in adversity) comes with urgency. As a founder, you may not be able to predict the future, but speed matters - you must find solutions quickly because consumers and the market have no time to waste. 

Teamwork Drives Success

We all truly understood the value of individual accountability and the importance of prioritizing and being productive in these rapidly changing times. We focused on the safety of our employees and customers to support the significant surge in consumer demand. We realized that just like how we depend on several locals, they also depend on us for their livelihood. The only reason we could turn around quickly was that we chose to champion and support our employees and other communities, rather than pressuring them. 

Be Flexible And Ready To Pivot

There was no fixed template to find an exit route from the pandemic, so the opportunities came with the restrictions and prescriptions that had to be responded to. With newer working modules like WFH and digital meet ups, the deliverables and services were also pivoted as per demand and opportunities.

Transparency And Effective Communication Go A Long Way

We tried to focus on good communication within the team and were very transparent with our customers. Communication is the key while setting expectations, building trust with customers, and lifting up the morale of our team members.

Be Target-Bound And Not Time-Bound

While the lockdown was enforced we all were enjoying our time with the family at home and due to the restricted movement of domestic helps and other ancillary service providers, there were added responsibilities which we all were caught up with. Hoping for 10-6 work time was bit too much to ask from the people so we resorted to the target bound approach rather than time bound one. The tasks were identified for a specific time interval in a week and that was asked from team to perform so that they could manage helping the family members in cooking, cleaning or related work.

Every entrepreneur has an interesting journey filled with learning stories. It is important to share and help other upcoming, budding entrepreneurs and learn from each other, and contribute to the entrepreneurial ecosystem at large. COVID-19 may have rocked everyone's world – but it is what all of humanity is going through together. I’ve been so impressed and moved by the simple acts of kindness that I’ve seen from friends, family, and even strangers on the Internet. When you focus on the good, the good gets better, absolutely the best thing.

The author is Co-Founder of Brands2Life