Features
The impact of innovation from the technology sector permeates our everyday lives. No sooner has one technology gone mainstream, but speculation begins on where the next big thing will come from, or what it will be.
All businesses, growing or not, should be actively looking at ways to attract new customers all the time. Those companies that ignore new business, believing that their established customer base is enough to keep the business ticking over nicely, will usually get a rude awakening.
Music has proved to have a special place in all our lives given how we play it when we are happy or sad. This is because it is a universal language that speaks to people on various levels. If you want to prove this, think of the memorable times when music made you feel special such as during your graduation, wedding, or after heartbreak. It is also said that music impacts your mental performance and productivity at work.
Corporate Venture Capital (CVC) has become significant force in the venture capital market. In Europe, CVCs participated in 1,325 deals worth €19.4bn in 2020 and are active in virtually every sector, and across all stages from Seed to growth equity. In the UK, CVCs participated in some of the biggest deals of 2020 – Hopin, Carzoo, Arrival – and despite significant headwinds due to COVID-19 deal activity remained strong, defying critics who had anticipated a slowdown as corporate balance sheets came under pressure.
In an ever-changing landscape, marketers and digital businesses alike are forced to adapt with the times as new opportunities arise and existing strategies become redundant.
Businesses, industries, consumers and communities are all reeling under the pressures that the global pandemic has forced upon them. It’s easy to assume amidst so much uncertainty and doom and gloom that prospects are grim and that the best option is to hide under a rock until the situation passes.
As the pandemic continues to impact businesses – both small and large – across the globe, I meet with four diverse founders based in the UK, who are taking part in WeWork’s Diverse Founders Programme in partnership with UK social enterprise, Foundervine.
With men being twice as likely to become entrepreneurs than women, the business world has a long way to go to address the barriers which stop women from starting companies, and help to create a more equal society.
When you’re heading up a startup, it can be understandable to think that, for now, some of the things your firm might need can be left off the table.
You wouldn’t necessarily think that technology and fashion go hand in hand, but virtual clothing is growing in popularity, and new digital marketplaces are cropping up as a result. As the younger generation addresses a concern about sustainability, whilst maintaining a love of fashion it seems like such a logical way forward – satisfying the fast-fashion urges without any (or extremely minimal) damage to the planet.
Over the last twelve months companies have had to adapt quickly to new situations they may have once been unfamiliar with. If these experiences have taught us anything, it’s that if you respond quickly and efficiently to changing surroundings, you can continue to excel.
If we learnt anything from the past year it’s that having control over cash flow is the cornerstone of business health. The impact of COVID and other external factors like Brexit mean that things are constantly changing for small businesses, meaning they have to continuously adapt. This means that you will need to consistently map your cash flow and review your forecast as things change. For example, things like furlough coming to an end in April will need to be factored into forecasting.
With COVID-19 restrictions rushing businesses to channel their resources online, 2020 marked an unprecedented turn in building an efficient marketing strategy with great emphasis on premium website content.
If this pandemic has taught us anything, it’s that change and disruption on this colossal scale, really has the potential to highlight the pros and cons of big business vs startups. While the startup cons no doubt include a vulnerability to externalities, through factors such as short cash flows and unreliable customer books, the flip side is the flexibility with which to grasp the new opportunities.
In the current pandemic, many businesses are facing financial hardship. A survey conducted by The Federation of Small Businesses show that just under 5% of 1,400 firms taking part in the study expected to close this year, equating to 250,000 small enterprises nationwide.
The Christmas ads are now a distant memory but what we learned from the 2020 line up was that brands were, more than ever, vying for consumer attention at the end of what was a brutal year for business.
The first lockdown had a profound impact on education as students were told to study at home – a location that doubled as the new office of their parents, ultimately creating a co-working cocktail with a sharp aftertaste. Children were unable to learn in classrooms or see friends while parents were acting as teachers during working hours.
Parenting in 2021 is not easy. Even before the arrival of the pandemic, juggling work and childcare was a challenge and as we spend more time in lockdown, many parents are taking the time to re-evaluate their lives – or come up with ingenious services or inventions aimed specifically at people just like them. According to a 2019 article, Forbes refers to the ‘new mom economy’ as an estimated $46 Billion millennial parenting market, clearly showing it’s benefits and popularity.
As we enter a second year of the COVID crisis, many founders are struggling to manage their finances amidst falling revenues and enforced redundancies. Whilst government support is being made available to businesses, there is plenty of uncertainty about the future and how to navigate through serious economic volatility.
The great idea has started to come to fruition. You are excited about the future for your business and yourself. You have a team in place, and you have got the startup started. The investment market has predetermined that you should go and look for investment to drive your business forward. A good majority of startups follow this route without question.
