How Entrepreneurs are Finding Motivation in COVID-19

Finding motivation in COVID-19 may seem like a daunting task for many people. For COVID-19 entrepreneurs, there isn’t much choice! Probably, this pandemic has impacted the most in this century. Finding motivation in COVID-19 has become the primary activity for COVID-19 entrepreneurs to keep their team members motivated. Recently, a banking platform for freelancers and small business holders, Azlo- noticed at least 81% of businesspeople started a new business between April and June, during the peak of COVID-19.

The
Wave of Set up New Businesses

Among these new entrepreneurs, only 22% were terminated, so the vast
majority of new entrepreneurs didn’t start a business as a survival tactic.
Instead, 40% claimed this COVID-19 Pandemic had motivated them to start their
entrepreneurial venture. 90% always dreamt of starting their own company.

With the entire business world crashing down, finding inspiration in
COVID-19 is easier said than done. This COVID-19 virus’s impact makes every
COVID-19 entrepreneur rearrange the whole business system. From opting for
compulsory remote work to save their business from bankruptcy – a COVID-19
entrepreneur needs to take care of every aspect. However, it has paved the way
for some truly creative COVID-19 entrepreneurs to find motivation amidst this
pandemic. Let us look at the five resourceful ways COVID-19 entrepreneurs are
finding inspiration in COVID-19.

What
are the ways entrepreneurs are finding motivation in COVID-19?

COVID-19 entrepreneurs have been fighting tooth and nail to find
their motivation during the COVID-19 pandemic. It may seem surprising,
considering some of the world’s biggest tragedies, but there is always an
opportunity for innovation during such events/.

Here we will discuss the five inventive ways entrepreneurs have been
finding motivation in COVID-19:

#1
Unbreakable spirit of Entrepreneurship

When major businesses and corporate establishments have fallen prey
to the pandemic, the COVID-19 entrepreneur is the only person who might benefit
from a shock like this. Eleven years ago, the US also witnessed an upsurge in
the number of entrepreneurs during one of the decade’s worst financial years.
Interestingly, the post-economic depression gave birth to tech giants such as
Uber, Square, and Airbnb, who managed to succeed post-economic depression.
Every time a severe tragedy occurred in the past, the numbers of entrepreneurial
businesses have also increased.

#2
Creative Problem-Solving Techniques

With the widespread negative impact of the pandemic, the reality is
no longer the same as before. Nevertheless, COVID-19 entrepreneurs have
brainstormed on some creative opportunities to succeed in. According to the
World Economic Forum, finding motivation in COVID-19 may seem next to
impossible. Well, maybe except for a few COVID-19 Entrepreneurs.

These entrepreneurs have not only managed to sustain their business
during the pandemic successfully but have also managed to generate profit. The
spirit of entrepreneurship has increased significantly due to the general
public’s emerging and pressing needs in the epidemic. Small-scale business
owners are finding motivation in COVID-19 by assisting consumers in adapting to
the new usual way of life.

#3   COVID-19 entrepreneurs can explore More

Due to the slowdown and stand-still of businesses worldwide,
COVID-19 Entrepreneurs got some free time to explore new avenues. The free time
has given most of these entrepreneurs to find motivation in COVID-19 times.
Being a COVID-19 entrepreneur must be quite intimidating, as building your
business from scratch requires constant time, effort, and inspiration. However,
with the economic slowdown, entrepreneurs finally got a chance to explore
business opportunities more.

#4
Earning a passive income

 It is one of the best
examples of how COVID-19 Entrepreneurs are finding motivation in COVID-19. Due
to the pandemic, many companies have started conducting their operations on a
remote basis. It is a blessing in disguise for COVID-19 entrepreneurs, who can
earn a passive income in their free time without ever leaving their primary
job.

#5
Establishing Resilient Businesses

In a recent survey conducted among entrepreneurs, the majority
census of entrepreneurs would rather keep their business running, despite the
economy’s rebounds. Now that we have endured the worst of the pandemic, the
time to rebuild is knocking at the door. COVID-19 entrepreneurs need to focus
on restructuring their businesses to become more flexible by focusing on
priorities and improving the overall cash flow management. With multi-national
corporations going bankrupt and small Startups sailing through the pandemic,  the concept of establishing steady businesses
has never been more important!

Wrapping Up

COVID-19 entrepreneurs are amongst the few lucky people who have
come out on top at the other end of the pandemic. Finding motivation in
COVID-19 is a task on its own. However, those COVID-19 entrepreneurs who do
succeed have also launched their business during the epidemic. It’s time that
the government owns up to its share of responsibility by creating policies
favoring Startups, rather than the other way around. Pandemic or not,
entrepreneurship will always remain the backbone of any economy.

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  • ONPASSIVE
  • ONPASSIVE
  • 15 September, 2020
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