Doing business in a pandemic: Lessons from start-ups that flourished during a crisis.

Posted by Ventures Online on Fri Oct 09 2020
These are truly unprecedented times and the uncertainty can make it difficult to make decisions and take decisive action about the sustainability of your business. Where then, should you start, you ask?

1. “Be simple. Serve the people.”- Jack Ma, Founder of the Alibaba Group.

Times like these are existential not just for people, but for your product/service-offering offering because your customers will be asking themselves if they really need your product. So the strategy must be to focus on your customer relationships and build trust.

2. “Do more with less. Become a Cereal entrepreneur”- Nathan Blencharczyk, Co-founder of Airbnb

Your sole purpose as a founder during times of crisis should be to keep the business alive until the tough times subside. This means that you might need to be resourceful and come up with creative ways to solve your start-up’s financial woes. The Airbnb team bought cereal from the store and repackaged it into “Obama O’s” boxes which they sent to reporters on their network to increase their publicity. Hence the term “Cereal entrepreneur”.

As it would turn out, building relationships and being resourceful are up there with the mask and sanitizer on the Doctor’s orders.