The CEO secret program by BBC has made an impact on many company officials. Different startups shared how they operated during the lockdown. However, the pandemic has reduced, and some businesses are back to normal operations.
Starting a new business might be risky, according to the UK National Statistics. However, we have new entrepreneurs who have set up businesses during this pandemic. Others opened new businesses immediately after the country extracted strict lockdown measures. Here are the top lessons from new entrepreneurs during the lockdown period.
Getting different motivations
Many people had no choice but to end their contracts because most companies were closed. Some lost their long-term jobs, and they had nothing to do. But that is not the main reason for setting up a business. Several new entrepreneurs talked about ambitions they had from the past. The force of nature drove them to start their own business despite difficult moments.
Keven Wadhar explains to BBC broadcast how entrepreneurs should have an itch to start. He is the founder of KidVoachApp. Tracy, a fashion entrepreneur, said it’s bad to go to the grave with regrets that you didn’t even try. Through mistakes, you learn a lot. For example, the gallery family started a home-cooked delivery business immediately after the lockdown. Within a few months, it turned out to be a big business. In one day, they could deliver almost 50 meals per day.
The lockdown HAS provided the perfect opportunity for food delivery. Besides, Felix said that lockdown allowed him to focus on his long-term goals besides the founder of the event space. The idea of big idleness is never found in entrepreneurs’ minds.
Running a business from homemade sense during the pandemic
Working from home provides the best time to do your side hustle. Many people started a business and ran them from the comfort of their seats. BY doing this, the office rent cost and some transportation costs are minimized.
Keith set up his business at home by making chocolate. It was easier because she was able to take care of her children at the same time. Based in his kitchen, he currently runs a chocolate business registered under liability insurance.
Parent-entrepreneurs had the perfect time to focus on their business as they juggle childcare. It’s always difficult while attending an office to set up extra time with your family.
Most businesses that entrepreneurs started belong to the food and beverage industry. Hospitality and leisure experts used their knowledge to explore how to get income. Sewing of masks and other clothing products was also popular. Such skills are hobbies for many people, but they turned into a real business. Various companies approached entrepreneurs with such skills to manufacture masks.
People found their skills were more transferable than they thought.
According to the BBC report, employees from aviation, retail, and hospitality always work in the public sector. Yet, some entrepreneurs were not sure if they could transfer their customer service skills into a business. Sophia, a cabin crew, has turned her long-term hobbies into a business. She is now a florist in her village. Victoria, who lost her job as a fashion retailer, set up stitching art to make colorful masks. She employed her skills to control the stock, price and offer after-sale service to attract customers.
Customers wanted to support local enterprises.
The main function of startups is always to solve community problems. Looking at Keith, the chocolate maker started preparing it for friends, relatives, and community members. Getting much order, he expanded the business/. You always get the first feedback from the nearest people in your circle. Social media platforms like Instagram and Facebook can provide a targeted customer.
The perfect example is Amazon; though it is not a new business, it hit the trillion mark during the pandemic. Since many physical shops and services were closed down, online was the best place to get products. Terry Fox started online sewing classes that attracted many people. After one month, he had numerous students.
Wine tastings virtual classes conducted by Lisa and Kibe Bryant hit the market. People could find it joyful consuming the drink with others online. In normal times people will attend bars and restaurants to drink with their colleagues. Director of Retail Research Pro Joshua Bamfield said the pandemic had accelerated many of the projects. They had anticipated some projects to end in 2025, but here they are.
Social media is your marketplace.
Young entrepreneurs have taken advantage of social media by setting up their brands. Instagram and Twitter influencers have turned their audience into product customers. Ahmed talks of her online jewelry business that grew from her Instagram and TikTok accounts.
Not all of these businesses will be permanent.
Currently, many activities are back to normal. Physical and face-to-face services are available. However, some entrepreneurs will have to go back to their well-paying jobs. Others might lack the good time to take care of their business. For example, some food delivery startups may stop because people can now shop and cook their food.