The author of the article is Sainaddh Duvvuru, Co-Founder & Chief Business Officer, HappyLocate.com, a one stop relocation startup based out of the Bangalore.
Ever since the pandemic has hit India and the world, many questions in regard to the business and startup sector has come to the fore. Many reports with negative connotations are doing round that threw light on the flailing startup sector. Many said a huge chunk of startups are shutting shops, and many said worst is yet to come for the sector. But notwithstanding any of these points, I would like to draw reader’s attention to the positives that are gracing the sector. Since, a lot of negative have been discussed, now it is time to write about the pluses.
And as I said, it is right time to throw light on some of the positives that can boost the morale of the young entrepreneurs and will let us know that even in the worst of the circumstances we are cleaving through; there is a silver lining for the all.
Since we are in the midst of Unlock 4.0 and very soon will be ushering into the phase of Unlock 5.0, one thing that is pretty clear. That our huge economy is crawling back on the track. There are some signs of revival and rebounding that are visible. So, let me take you through some of the positives of the Covid-19 induced lockdown that the startup ecosystem has embraced wholeheartedly.
Pivoting To New Businesses
When nationwide lockdown was announced, a pall of gloom fell over the entire startup ecosystem. There were some sectors that were hard hit by this pandemic and some who were witnessing an unprecedented boom in this pandemic. Those facing the worst embraced some new ideas and diverging from what their core business was. Some startups pivoted to some new businesses, when the question about their survival cropped up. Rather than shutting shop, innumerable startups resorted to this way that saved many from the worst of the pandemic. Now, the sector is restoring back its growth story. And those who were not that severely impact or witnessing a boom, were also forced to reorient their business strategy.
When the survival became difficult, technology came to the rescue for the entire ecosystem. Almost every startup changed the way they were dealing with their consumers, changed the way they were providing services. Some streamlined the operations with the help of technology. From redressing customers grievances to communicating with the customers, everything embraced technology that not only made the operations convenient for the startups but also made availing services convenient for its customers.
Another most important strategy that is doing a more good for the start up ecosystem is the streamlining of their operation. With the Covid-19 induced lockdown, startups diverged from their definitive business paths and thus with this enormous challenge in the way, there was one thing that came to the rescue of the entire ecosystem, and that was streamlining of their operations. With the streamlining of operations and embarking on some new business strategies, startup ecosystem is slowly and steadily rebounding and will be restoring its growth story again.
Being at the helm of a booming startup, I can surely say that it was a tough time that is behind us and now, a new wave, much stronger and much resilient is roaring to scale new heights. And this pandemic has unleashed a raft of lessons for the leaders, operation officers and other employees. But the startup sector which was subjected to this tough litmus test has not only passed the test but also emerged victorious and came out with flying colours.