With all the bad that has emerged from the COVID-19 crisis, there were glimmers of the good.
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COVID-19 has challenged all of the personal and business systems we believed to be unshakable and experts warn that despite the start of vaccination by the population, the economy is far from immune. Despite all of the disruption, heartache, and loss the virus has inflicted on the world, there are some silver linings for businesses today.
Related: How will Covid-19 affect the next generation of entrepreneurs?
Broken beliefs, better adaptability
As old habits break down, people become less skeptical of new services and form new schedules.
On the corporate side, this has a major impact on operations. One of the best and most obvious examples of this is remote working. What is not always obvious is the impact on the way companies conduct their business. How they sell, how they market their services and products, and how they build and manage the entire value chain. It is all fertile ground for innovation. Admittedly, some companies get better results working remotely than others because of industry advantages or the way they operate. Many say this doesn't affect productivity, while others aren't sure if it's sustainable. But leaders are at least willing to be considerate in ways they have never done in the past, which could lead to more efficient and fun processes in the long run – and create opportunities for those who help them do so.
An environment full of new possibilities
Before the pandemic, entrepreneurs tended to move around certain areas. They gathered in these places mainly because they were very strong in both tech science and venture capital availability. At the same time, they stay close to home in the search for co-founders. Working together in metaphorical garages was the norm. Entrepreneurs usually sat in the same place when they hired their teams.
All of that has changed. As people become more open-minded, develop new habits in many areas and immerse themselves in new ways of living and working, the walls that previously existed and prevented people from working together simply no longer exist. This has created incredibly fertile terrain for entrepreneurs. You understand what people are facing and there are many opportunities for new partnerships.
The possibilities also extend to mentoring and building your team. There are still large startup clusters in certain areas. But with such a huge acceptance of remote working and digital transformation, people are realizing that they can work with anyone from anywhere. There's a different mindset of where to find talent and workers are more willing to work for companies around the world. People have a wonderful chance to connect more emotionally with people on a global scale and find a much more cohesive fit.
Related: My Lessons From 2020: How Entrepreneurs Can Prepare For The Chaos
Find your purpose
During the lockdown, people suffer from many very painful ailments. But you also have no choice but to become more introspective. Even the most extroverted turn inward and consider what they prioritize and want for themselves and others. Having a goal is becoming more and more important no matter what generation you identify with.
This creates a great background context for social impact. People rethinking their way of life find new products and services that are more closely related to their sense of purpose. They are digitally looking for a much wider range of elements to get the exact impact or outcome they are hoping for. In this context, entrepreneurs looking to make a difference have the opportunity to connect with like-minded customers and thrive, whether or not they focus on nonprofits.
Related: How to Become a Successful Entrepreneur During the Pandemic
The pandemic was difficult for everyone and we will be looking at it for a few more months. Even so, we must acknowledge that some positive changes are occurring because of the virus. If we focus on those silver linings, there is no doubt that we can shape the post-COVID landscape into one that is stronger, more innovative and more fulfilling than before.