Guys our generation can do anything if they have a will and power to do it like Elon musk taking unlimited rocket to mars to find living there or bitcoin that change the industries with the payment system, privacy and most important encryption that gave new opportunity to the world and specially youngster. Our generation can do anything if they determine for something and technology made it easier to do it but still in this high tech world we can’t do one and that thing is to see future. That’s why we work hard to achieve something and that something would be our future. An entrepreneur plays a great role in this because he is one who creates the future for others. But in the face of the global COVID-19 pandemic, entrepreneurs have to face a new reality, that it is not only a huge sanitary and health crisis affecting billions of peoples across the world. But entrepreneur is not who keep quiet and sitting in one place hoping to do something after the pandemic, but the entrepreneur who find a way new opportunity in this pandemic and double his money in this mist. I know it’s hard to find an opportunity in this pandemic but if you see it then it is you luck. And what about after the pandemic thing will be change completely like more hard work, more challenges and more up’s and down’s then you must remember this three thing that’s always important to entrepreneur are and he should aware of :-
Entrepreneur loves money no matter what but you should understand cash is key. It’s time to review all your expenses; non-essential expenses must be cut out in order to reduce your cash burn rate. You have to make your company leaner b transforming your fixed costs into variable costs in order to become to become more agile. Reduce marketing and event costs; everything which is not essential to the daily life of the company should cut out. You should look after your revenue sources. Analyze your customer portfolio to try to guess who among your customer might be loyal. And you also need to face the present realities in order to see the future.
You know entrepreneurs are the expert in the entire field that’s why they call entrepreneur because they know the market and the opportunity to invest in the market, because they know the market then they knows the customer and with the help of their feedback they make the product and that product make the entrepreneur. And always create a product like a pain killer that heal and help people not exploit them.
Entrepreneur is who work in team and lead his team into the glory. During this crisis your employees must remain more committed than ever, in order to keep going through it. Communication is crucial. Increase your daily communication and try to reduce uncertainty as much as possible. Take care of them, protect them, be sure they are healthy and safe and be crystal clear and honest with your team on what you know and what you don’t know.
I know things will be change round and we should be ready for those changes an entrepreneur know that. So Thankyou.
Entrepreneurs are fighters; by nature optimistic and resilient. They will overcome this difficult period because it is in their DNA to bounce back.