By Sweta Patel, a former growth advisor for 500 Startups, Plug and Play Tech Center, and Techstars. Founder of StartupGrowthMode.com and Healveda.com
Entrepreneurs are seeing a major shift in the way we build businesses today. I saw many startups close their doors after the whole lockdown situation happened. It was unfortunate that many of them didn’t see the opportunity to pivot and turn their business into a success. I learned that many entrepreneurs during this time are not seeing their gifts. There many of us who have gifts and different skills that may not pertain to our business but could help propel us forward during these times of chaos. As I have worked closely with entrepreneurs, I have seen that a lot of them are getting down on themselves and are ready to close up shop and get a job. I know there are many aspiring entrepreneurs out there who are die-hard, trying to do whatever it takes to win with their passion. I hope what I share in this article will help your business move forward during these times so you are able to continuously make an impact.
Stop Selling And Start Giving
I saw many businesses that started giving out free masks, feeding the poor and helping people in need. These tended to be the ones that didn’t have many problems. We live in a society where we value the rat race life, especially in the startup world, where the competition can get pretty rough. A lot of entrepreneurs do not think that giving can bring them anything in terms of monetary returns. When you are going after your passion, it doesn’t matter what it takes for you to win the hearts of people. There are many people who may want to support you, but this isn’t the time for them right now, so how else can you help them? As an example, there are people who I bought supplements for so I can help them on their health journey. I don’t own a supplement company, and I am not even an affiliate for supplements, but I did it out of the kindness of my heart. When times are rough and people are losing patience, it is best to support them in any way you can.
Adaptability And Mental Toughness
Yes, I agree, these times are uncertain. I thrive in change, but some days even I wonder what may be in store for me tomorrow. During these times, it takes a lot of pressure and mental toughness to get through without falling apart. This is the gift of being able to adapt to anything that is thrown at you and being able to think on your feet. It allows you to expand your horizons and think more creatively to fix the problems that come along with entrepreneurship.
Humility And Helping Others
When greed and taking advantage of people don’t work anymore, entrepreneurs think more humbly about their business and the value they are truly offering people. This is a good time to find out if what you are offering is truly valuable to people or if it is just another product or service no one truly needs. A lot of entrepreneurs are passionate about a service and tend to skip out on the market research to determine if the service is actually valuable to the end buyer or if it is just valuable to them. The times we are living in make it easy to perform the market research to truly understand how your customers feel about your product or service. It will also allow you to determine if your product is one that they will continue buying or if it is a one-time product. When you launch during times of uncertainty and get positive results, it’s a good sign that you have a winner. A lot of entrepreneurs I know have been left completely humbled during these times and are now more focused on helping others around them rather than making revenue. There’s a statement circulating on social media that the importance of this year is to just be able to survive. This year may not be a profitable year for many, but if we are able to survive despite how the world is changing, then we will win together.
It seems like this is the year when everything that has been corrupted in the past decade is being exposed, and more people are becoming aware of society and how things have been manipulated for money-related reasons. When everything comes to the surface, we can start making better decisions about how we can truly help people in this society, including helping them succeed with their goals.
Many entrepreneurs are not used to taking care of their well-being while running a startup. It seems next to impossible. But now new technologies are emerging to help people take more control of their health and not wait until they become sick. I’ve seen this firsthand because my venture focuses on helping women heal from autoimmune conditions naturally, saving money on doctors. This allows me to have one-on-one time with women who are looking for solutions without endless searching.
The world is not going to get back to what it used to be. Many people are disheartened by everything that is going on, but if we look deeper, we can find the gifts of the time we are living in. It is different from how things used to be, but it will be better for humanity in the sense that we will all help each other and truly understand what people value in this life without even having to sell to them.