On one end, it’s tough to set up a business when everything’s topsy-turvy. In fact, many industries are reeling right now. Every entrepreneur worth his name in salt will have to adjust to the call of the times. Not following protocols in your manufacturing plant can mean the government could close down your operations if you stay the course.
But that’s the least of your troubles. With over 32 million Americans infected to date, the worst part is some of your employees could catch the virus.
And yet, there’s a side to this existential threat that could prove to be a treasure trove for an entrepreneur wanting to launch a business. And that is there may not be a better time to do it. Why? Simply put, when people are placed in a corner, their needs are more pronounced than ever. The story of Amazon and DoorDash made that all clear. All you have to do then is find a particular need and serve it to the best of your ability.
Of course, you’ll have to play your part. Being the right businessman is paramount. And that surely is easier said than done. It’s exactly why we’re giving you the lowdown on how to get your business off the ground best.
Business is about satisfying a need. While the pandemic has indeed placed us in a box with its restrictions and lockdowns, it has also made our needs more pronounced. Unable to spend more time outdoors, companies that cater to the restricted Americans became the heroes of the day.
Top of that list is Amazon. The Jeff Bezos-founded company didn’t actually fare badly months before the pandemic. It was doing quite well, but the virus was nothing it ever faced. It had to adjust to the times. And what an adjustment. In 2020, it hired 36,400 people in the months leading to June, boosting its ranks to 876,800. Today, it has over a million employees.
The pandemic proved to be the opportunity that catapulted Amazon to the top. Jeff Bezos is stronger than ever, becoming the first man to breach the 100 billion mark in wealth and sitting on top as the richest in the world today.
And yet, Amazon is not the only company that has gained so much from the pandemic. DoorDash, a company started by Stanford University students, wanted an app-based food delivery that matters. Tony Xu, Stanley Tang, and Andy Fang did initial research asking store owners before launching the app and trying out how the app would fare in 2013 to mostly Stanford students.
Such dedication to constant improvement, a discipline they copied from Toyota’s methodology of getting 1% better every day, meant its company is always improving as time went by.
All that discipline paid off during the pandemic. With its robust infrastructure, DoorDash became the #1 online food ordering app, beating veterans Uber and GrubHub. It has 450,000 merchants, 20 million consumers, and over 1 million deliveries by December of 2020, amounting to a market share of more than 50%.
Small wonder when the company went public in 2020, its young owners Tony Xu, Stanley Tang, and Andrew Fang joined the three comma club as the youngest billionaires in the country.
Launching Your Startup
Thus, to start a business during this pandemic, you’ll have to find a need that you can serve best. And that means doing your due diligence. According to the US Chamber of Commerce, here’s a list you can go over on some of the best businesses that thrived during these times.
If you’re not sure about finding a need, a good question to start is to ask yourself: What are the things that consumer needs at this very moment. Amazon knew people would gun for PPEs at the start of the pandemic, so it emptied its warehouses to favor masks, sanitizers, and the like. In short, it adjusted to the times.
Also, a great way to get needed input is to seek the guidance of tried-and-tested business leaders. A good example here is Mr. Robert Brazell, today’s true blue Renaissance Man. With his proven record of leading top organizations in tech and creating businesses, Robert should be a gold mine for you. You might not give him a call, but you can always get in touch with his resources online.
Additionally, you should deploy a better-than-average marketing strategy which should be primarily digital. You can make the most of social media towards that end.
Like the DoorDash founders, you should create a long-term plan that’s recession-proof. That means you need to factor in possible changes that will happen along the way. We’re talking about looking into a robust financial plan to propel your business through.
In the final analysis, your business should be COVID-19-proof, which simply means a business we can all enjoy during the pandemic that we’re in.