How startups can thrive in a post-pandemic economy
It may have been 5 years since the pandemic wreaked havoc, but we are still feeling its ripple effects and will do so for the foreseeable. As a businesswoman, I know how resilient founders can be when facing economic adversity, but the challenges remain, and knowing how to weather the storm and thrive in unpredictability is not a given.
My career so far has taught me a great deal and my values have led me to surprising wins both professionally and personally. By following these strategies, your business can make a comeback and be an unstoppable force in 2025.
Make your business personal
Economic uncertainty is unwelcome news, but there are a lot of things we can’t control. Nevertheless, as the founder of a startup, you have the luxury of making choices and setting your own terms. You may not be ready for funding yet – and that is okay. In the meantime, you can take advantage of the freedom that comes with being an independent entrepreneur. To truly thrive in a post-pandemic economy you must first focus on nurturing your existing relationships with customers. Tailored communication is easier than ever, with integrated options ready to install. Customers are more receptive to personalised messaging, and this must be the main feature of your marketing strategy. For instance, you can use direct feedback loops, loyalty programmes, and tips and insights through a monthly newsletter to build brand advocacy.
Embrace flexible working options
Let go of the idea that you need to rent out your own fancy office to be considered official or reputable. I have coached founders who have started businesses from their garages, and it hasn’t deterred them. One positive of the pandemic was that it highlighted the fact that not every company requires face-to-face contact in order to function and that a lot of employees are even more productive working from home. While some major companies may be backing away from remote working, that doesn’t mean you need to. Be bolder in your approach to work benefits and the company structure. Introduce trials be open with your team about how you wish to operate and be open to feedback.
Capitalise on emerging markets and trends
As I said, the pandemic normalised working from home, but that wasn’t the only trend you could put to the test. Some sectors such as telehealth, online education, and home-based entertainment saw accelerated growth. “Multiple streams of income” has become the popular phrase that has prompted a lot of entrepreneurs, and non-entrepreneurs, to look beyond their current circumstances and strive for something bigger.
Assess your niche’s compatibility in today’s market and be honest about your financial situation. While funding may not be on the horizon for you yet, analysing your cash flow and working out a plan will put things in motion and dictate how you can scale going forward. Look into business grants and charities that support entrepreneurs. I’d also encourage you to find a mentor who is experienced in the sector that you’re focused on.
Diversifying your business not only demonstrates you are adaptable but increases your competitiveness, and profitability and reduces the risk of folding. The statistics for startups may look bleak, as 90% fail within their first year and this has particularly been exacerbated by COVID, but if you’re prepared to take chances and step out of your comfort zone, the rewards will be closer in reach.
Reach out to your community
Philanthropy is a motivator for a lot of founders who want to give back and prioritise social value as much as profit. You don’t have to be making millions to support your community and make an impact. You can partner with local organisations or tap into regional networks to establish a loyal customer base. Additionally, hosting local events or sponsorships can help build brand recognition and trust within specific communities.
Focus on financial resilience
Ultimately, to not only stay afloat but flourish in a fractured world, you must focus on financial resilience. It can seem overwhelming at first to do a forecast. However, there are so many digital tools that will simplify the process. Digitising your business removes those troublesome tasks and alleviates some of the stress that comes with building a brand.
Implement lean operations, maintain cash flow discipline, and build reserves for unforeseen disruptions. Diversify funding sources by combining traditional loans with innovative crowdfunding or revenue-sharing models. Pausing growth is not a signifier of a failing business, and actually shows business acumen.
The pandemic reshaped the rules of business, but it also opened doors for those willing to adapt. By leveraging personalised marketing, embracing flexible working models, and expanding into growth sectors like telehealth and digital education, founders can build future-proof strategies. The challenges are real, but for founders willing to act decisively, 2025 can mark a transformative comeback.
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