Description:If there’s one tribe that has the ability to change the world for the better, it’s the entrepreneurs. tech startup accelerator programs The world needs more entrepreneurs, free thinkers, strategists, innovators, go-getters, tech enthusiasts and visionaries. These are the people who not just... moreIf there’s one tribe that has the ability to change the world for the better, it’s the entrepreneurs. tech startup accelerator programs The world needs more entrepreneurs, free thinkers, strategists, innovators, go-getters, tech enthusiasts and visionaries. These are the people who not just think outside the box but think like the box doesn’t exist.
All the conveniences we experience today are results of some crazy idea on an entrepreneur’s sticky notes. With more such life-changing (and saving) best startup accelerator program innovations happening as you’re reading this right now, the future inevitably needs more of them to handle several rising concerns.
From climate change to unexpected pandemics, a lot of hindrances to human evolution are lined up and for them to be tackled today, we need more startups that are sustainable, purpose-driven and results oriented.
As far as this perspective is concerned, 2019 was a great year for the startup environment. In the US alone,business accelerator program there were close to 30.7mn small businesses set up. Like you’ve seen in television series and movies, the Valley and San Francisco stand as the fulcrum of startups with over 13.5% of the startups established thriving here.
If this news is just on starting up, a better news is that over 78% of the small businesses established reported profits, too.
But all of this good news stops with 2019 statistics.
After the new year 2020, things took a rather depressing turn.
Startup Scenario in 2020
Like you know, the year 2020 has been shaky. The world has been witnessing back to back events that have been dreadful and depressing. It all started with the forest fires in the Amazon region and quickly escalated to a global pandemic that wreaked havoc across the globe. Millions succumbed to the Covid-19 virus and several nations around the world imposed strict lockdown restrictions to curtail the spreading of the viral disease.
Because of this, the number of people to step out of their houses decreased dynamically, ultimately reducing the physical footfall in retail stores. This led to a number of businesses shutting down permanently because of absolutely no business.
According to statistics, close to startup accelerator business model during the outbreak of the virus. Starting with Schurman Fine Paper Corp in January to Stein Mart in August, a range of retailers shut their shop permanently because of the virus.
A lot of startups in the travel and hospitality sector also perished because of several travel restrictions and banning and several airlines and cruise companies reported heavy losses and reduced cash flow.
If this is on one side, there was another side that was flourishing on the other hand.
The ecommerce market reported profits during the pandemic. Close to $200bn was spent on ecommerce in the US alone. Because of the lockdown restrictions, consumers found it convenient to get their preferred products and services delivered to their home without having to come in contact with anyone. This propelled the use of ecommerce stores – from that of Amazon to ecommerce startups.
What Does This Reveal?
The stark differences between the companies that shut down and the ones that managed to make profits even when the entire world was slowing down point out to just one thing – embracing technology to power business operations. If you notice, all the tech-driven companies and those with powerful tech infrastructure managed to not only stay afloat but see a surge in their sales and conversions as well.
How Can Startups Make The Best Use Of The Changing Dynamics Of The Business Market After Pandemic?
So, the first takeaway from this year is to do away with all your obsolete technologies and bring in digital transformations that best suit your business niche and operations.
The tech advancements of today allow you to get insights on what’s going wrong in your processes, workflows and operations and take corrective measures accordingly. So, if you’re experiencing a dip in productivity, conversions, lead generations or more, that’s because you don’t have the right tools that empower you to achieve your goals.
From Big Data, artificial intelligence and machine learning to IoT and blockchain, companies are reinvesting in the most trending technologies to stand out and make way for revenues.
And as a business owner, you need to do that, too. You need the right tech stack to make informed decisions. You need a systematic approach to selecting your business model, the right way to conceptualize your business and product development and more.
So, if you’re a business owner looking to surge your operations in 2021 or an aspiring business person looking to have all the right tools, mindset and wisdom on running a profitable business, you need to know how big companies do it, what needs to be done and... less
