Sonal Holland Shares Tips
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We are collectively recovering from a global pandemic that sent most economies downhill. Entrepreneurs who welcomed last year with hopes of success for their independent businesses were met with an unexpected interruption. The year 2020 came with a set of rather harsh lessons, out of which the reality of uncertain futures seemed most stark. It would be fair to assume that the unpredictability of last year has painted a bleak picture for 2021, especially for those looking to start their own businesses. But I am here to propose that 2021 is in fact the perfect year for entrepreneurs to launch their ventures and for women specially to continue to shatter glass ceilings.
It’s a proven fact that crises have in the past given rise to new opportunities and ideas. In fact, some of the world’s biggest companies like WhatsApp, Uber, and AirBnB launched after the 2008 economic crisis. Why then, should entrepreneurs not look to launch their own businesses in 2021? Here are my thoughts on how this can be achieved.
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Are You Relevant?
An idea which may have seemed brilliant pre-Covid may not hold relevance at all, in 2021. Begin by being honest with yourself – is what you’re looking to take to market something that consumers really want and need? How can you be relevant, and offer something of value? If all the soul-searching confirms that what you want to offer is still on target, go right ahead with your business plan.
Seek Mentorship & Help
A post-crisis world is always a more empathetic world. The spirit of collaboration and the feeling of wanting to help others is usually never stronger, given how, as a global community, we have suffered through a crisis of alarming magnitude together. Entrepreneurs should take advantage of this and reach out for help and mentorship as much as possible. Leverage every contact you have, and don’t be afraid to ask for support – you will be surprised how willing people are to give of their time and resources.
Adopt Pandemic Thinking
As an entrepreneur, you’re naturally inclined to think big and be optimistic. I would suggest that you turn that thinking on its head and instead keep survival and long-term resilience at the core of your approach. This may not sound exciting, but building room for crisis right into the heart of your business plan is the most realistic way to launch a new venture post-pandemic, given how we have experienced just how transient a stable world can be.
Be Digitally Savvy
One of the major takeaways from the pandemic was how our dependence on the Internet grew even further. Pretty much everything we were doing offline found a way to become accessible to us, online. Make sure then, that your product or service is available online. The Internet is your best friend now more than ever given that online consumption is the highest it has ever been. According to Flipkart’s CEO Kalyan Krishnamurthy, the Indian e-Commerce industry is projected to reach $90-100 billion dollars within the next 4 years. If you can take your business to virtual platforms and market your services in a manner that poses digital solutions for consumers, you are more likely to reach your target audience.
Build Your Team
Survey the market for available employees. The pandemic has rendered a many jobless, but not necessarily due to a lack of talent. This means that entrepreneurs now have access to a pool of experienced individuals looking for work. Take advantage of this unique situation and build a core team that can help you create the company that you’re envisioning.
Forge Connections
Post-pandemic, what people are craving the most are genuine connections and interactions with people after a long year of this being in short measure. Use this time to capitalise on your people skills. Aim to create authentic relationships with potential customers. For too long, we’ve been subjected to an outdated, largely masculine narrative that business is not personal. I fundamentally disagree with this as I believe the foundation of every entrepreneurial vision should be a reflection of your personal values. When you’ve built a loyal customer base that trusts you, you are sure to succeed.
It’s never easy to be an entrepreneur, but by thoughtfully capitalizing on any moment you find yourself in and by making the most of it, success can – and will – come.
Author Bio:
Sonal Holland is India’s only Master of Wine, an Educator, Entrepreneur, and the Founder of SoHo Wine Club and Sonal Holland Wine Academy.
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