The last two years have been challenging to say the least. But, for most entrepreneurs, it was the time of change. The only real problem was that nobody knew in which direction to change.
Even after almost two years, we still don’t know where to go. It makes me think of how explorers of the olden days must have felt. Discovering new land, new cultures and civilizations, not knowing what to do with it all.
I believe that every change comes with problems as well as opportunities. After we have passed the first shock, we slowly start to see more clearly what is going on, and some idea is beginning to form.
Looking at it from some distance, this is an excellent time for entrepreneurs. We face new facts and challenges that always provide new opportunities for business and career.
Looking ahead to 2022, a few things seem to stand out:
- The way we have worked in the past is over.
- Most people don’t want to go back to a one or two-hour commutes to get to work.
- Online meetings have proven to work. There are some problems, but the time spent and how the meetings are held have changed a lot. For many, the new meeting format has been much more productive.
- Many miss the personal connection to co-workers, and some struggle to apply their leadership methods to absent people.
- Controlling people and the environment people work in has been incredibly challenging.
I could add many more points, but let’s look at the ones above and the opportunities they hold.
Most businesses have no idea how to manage this new situation. They need guidance and someone who understands their problems and helps them to adjust. Think of consulting, outsourcing, securing, etc. All areas to cover those challenges.
For the second point of people not wanting to travel for long hours to work, think about co-working spaces or satellite offices local to where your staff lives. Combine this with reducing risk in case of a covid infection impacting all your team in one go, and you might see the opportunity for someone offering those services.
This would also, in part, cover points 4 and 5
Point 3 is an exciting area to get into. How do you design and entertain good online meetings? What technology will work best? All those questions require answers, followed by services providing those solutions.
None of this is new and can quickly be built into a good business idea with a great chance for success. It needs some entrepreneurial mind to pick it up and run with it.
Of course, some businesses need to change completely. For now, it looks like that the gastronomic and events sectors are hit the most. They discovered how risky their business model is. Similar things happened to shops or other public trade, but even the medical sector finds itself in a difficult situation. Nurses and doctors can’t manage the load and burnout. Add the low pay of nurses in Europe, and the melt-down is programmed.
Another significant side effect of all of this is how the rate of depression and suicide has gone up. The impact of Covid has ripped whole families apart and has left many sitting on the sidewalk with nowhere to go. The amazing value that some qualified entrepreneurial mind could create is incredible.
If you are an entrepreneur looking for ways to get into business, let me give you some advice.
As better, you understand the problem, as better your solution will be. Spend some time understanding what is going on and talk to people about it. Don’t take the first idea you have and try to make the problems fit your solution. It doesn’t work!
Focus on one area only. Don’t spread yourself thin. Only specializing in one area will give you a chance to become an authority in that field.
To start a business, you’ll need to know what you’re doing. For example, if you want to start a carpentry business, you should know about carpentry. Starting a business is difficult enough without the added risk of learning what you’re in business for.
If starting your own business seems to feel too risky for you, think about looking for an intrapreneurial position in a middle-size company. An intrapreneur is like an entrepreneur but employed in a company to discover new ways to be successful. This could include extending or adjusting the current business or even going all out in a completely different direction. All this while being employed with wages and having a budget to work with, without the risk. If you have experience in starting businesses, this could be a great way forward during these times.
As you might see, there is opportunity everywhere and starting a business or a career is not harder now than it was before Covid. The opposite is true; Covid has forced almost everyone to rethink their lives, values, and beliefs. The readiness to find their way is very high.
Of course, I can’t end this article without pointing to us as an Entrepreneur Academy. Understanding values, problems and solutions, and building an entrepreneurial mindset is what we are about. All we do is based on research done by many associations and the European Commission and already today implemented in many Universities in Europe.
As an academy, we are all about action and learning while doing, and we are fully committed to entrepreneurship. So why don’t you find out how being an entrepreneur can work for you.