How Entrepreneurship Can Drive a Post-COVID World and How You Can Help (French version available)
If there’s one lesson that COVID has taught us, it’s that a great idea can flourish during times of adversity. For example, had you heard of Zoom before the pandemic?
The software was launched in 2013, where the initial version was able to hold conferences with only up to 15 participants. In December 2019, the platform had an average of 10 million participants daily. By April 2020, that number grew to 300 million. In addition, a regular Zoom meeting now can have 300 participants, at the same time, which can be increased to 500 upon request.
The success of Zoom is a tough act to follow, but that doesn’t mean no one can attempt to. Entrepreneurship can be a powerful tool, and though the pandemic is over, new businesses can still strive to achieve success. And who knows, maybe you can be one of those who has a businessperson in them waiting to come out. Find out by reading below.
Have you found your passion?
Finding out where your passion lies is the first step in conceptualizing a great idea. For instance, Kevin Plank was a college football player in the early 1990s. He loved sports but didn’t like how sportswear always stuck to his skin when he was sweating while playing sports. Thus, he decided to develop a synthetic-based layer that soaked up sweat. By 1996, he was producing his own sportswear line and directly sending them to the National of Football League or NFL. Today, Under Armour is valued at almost $5 billion.
Have you found a need?
If you know you’re business-savvy but don’t quite know how to pinpoint what you’re passionate about, then maybe unearth a need instead. Here, you can put your observant skills to good use. What do you think consumers need that isn’t in the market yet? For example, well-known products like Velcro and Scotch Tape were inspired by creative inventors who were fully aware of their natural surroundings. Velcro was inspired by burrs of the burdock plant while Scotch Tape was inspired by the gecko. So don’t underestimate the powers of observation!
Have you built a network?
You don’t have to score a gig at “Dragon’s Den” to build a network (although that will certainly help!). All you need to do is utilize networking apps, and most of these are readily available like LinkedIn. Networking connects you to people with entrepreneurial skills who can help you as a mentor or as a peer. Like with anything, it always helps to reach out to those who know exactly what challenges you’re dealing with. This way, you’ll have a clear idea of what the process is truly like.
Have you attended events?
So one piece of good news about the pandemic being over is that networking doesn’t have to be regulated to Zoom or Microsoft Teams. With most everything being back up, so are in-person networking events, workshops, and talks. Find one in your area through Eventbrite and you’ll obtain connections to people with similar interests and goals.
Do you know how to promote yourself?
To be a great entrepreneur, you’ll have to have the confidence of a former U.S. President claiming that injecting one’s self with disinfectant is an effective way to fight COVID. Of course, whatever business idea you have will be way more plausible than that. It’s all a matter of believing that you do offer the greatest product or service and that people will miss out on a good thing if they don’t listen to you. However, being confident with yourself doesn’t mean being full of yourself. Remember, if you’re networking and someone offers suggestions or constructive criticism, take time to listen instead of being dismissive.
Now that you’ve read these tips, are you confident to work to be among the business greats like Steve Jobs and Mark Zuckerberg? Good luck!
Fox, Michelle. “Start-ups boomed during the pandemic. Here’s how some entrepreneurs found a niche.” CNBC. https://www.cnbc.com/2021/05/27/how-entrepreneurs-found-their-start-up-niche-during-covid-19.html.
Hennighausen, Amelia, and Eric Roston. “14 Smart Inventions Inspired by Nature: Biomimicry.” Bloomberg. https://www.bloomberg.com/news/photo-essays/2015-02-23/14-smart-inventions-inspired-by-nature-biomimicry.
Plank, Kevin. “Under Armour’s founder was a college football player when he first developed the company.” Business Insider. https://www.businessinsider.com/companies-started-as-side-hustles-2019-8#under-armours-founder-was-a-college-football-player-when-he-first-developed-the-company-8.
Tai, Jack. “Startup Surge: Pandemic Causes New Businesses To Double.” Forbes. https://www.forbes.com/sites/theyec/2021/01/20/startup-surge-pandemic-causes-new-businesses-to-double/?sh=5b4512de635d.
The University of Queensland. “How many people can attend a Zoom meeting or webinar?” https://support.my.uq.edu.au/app/answers/detail/a_id/2996/~/how-many-people-can-attend-a-zoom-meeting-or-webinar%3F.