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How do I start or maintain a start in a COVID-19 environment?

May 28, 2020

Learn about the challenges and key points for entrepreneurs to create profitable inertia for their company in this challenging scenario.

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How do I start or maintain a start in a COVID-19 environment?How do I start or maintain a start in a COVID-19 environment?

The opinions of the employees of s You are personal.

We hear and see the crisis everywhere: in the areas of health, money, supply chain, labor market, oil industry, politics and the real estate market. GDP is estimated to fall between 7.5 and 10%, one of the worst in Mexico’s history.

This crisis redefines the rules of the game in business, but also opens up spaces that can turn into opportunities, he says. Rogelio de los Santos, CEO of the Eugenio Garza Lagüera ship Institute.

During his live class How do I start or maintain a startup in the COVID-19 environment? “, organized by e IEBS through the initiative School at home, The co-founder and managing partner of Dalus Capital said that COVID-19 had become a shock in our way of life.

Given this situation, the way we move, people, or products is threatened. We therefore recognize our fragility as an individual and as a society and underline the lack of trust in institutions.

“We recognize that health is very important and has accelerated change that no one has been able to achieve,” he said.

Where are the options?

According to the co-creator of the INC Monterrey ship Festival, technology has grown in importance because we can move intelligently due to a lack of proximity. And for example: Zoom, which has grown by more than 250% since December.

The entrepreneurship specialist identified four business phases in the current era:

  1. New reality. An unknown disease from which we must remain isolated
  2. Adaptation. An approach that guarantees continuity and increases resilience is about taking care of our employees and customers.
  3. Manage the risk. Build the new normal by implementing health, safety, and climate protocols.
  4. Prevent. Schedule real-time response protocols to learn and adapt quickly.

Post COVID-19 Trends

Rogelio de los Santos identified five clear trends in the aftermath of the pandemic.

  1. Reduced contact economy. With regard to epidemics, distancing will continue, e-commerce, digital payment and online entertainment will have a chance.
  2. Accelerate business digitization. Introduction of digital technologies. Communication, digital collaboration, cyber security and data protection are becoming increasingly important.
  3. More priority and digital health and wellness. Medical organizations and patients are open to the use of digital healthcare solutions.
  4. Greater focus on the resilience of companies and stakeholders. Companies have tried to take the interests of several stakeholders into account. The pandemic has shown weaknesses in the supply chain.
  5. More leadership role for governments and increased nationalism. Governments will play a more important role in health, economy, security and data protection.

De los Santos said that creating businesses that focus on data is growing as the most important thing for monetization and for collaborative consumption and demand models. circulating and regenerative, driven by Gig economy.

In view of this new reality, the specialist recommended that it be made clear that life must go on. After maintaining your health and that of your work team, you need to adjust and think for a short time to take decisive action.

To give continuity to your life and business, he suggests analyzing the potential and impact of generating revenue and collections, focusing on maintaining cash flow, developing cost-cutting plans, and thinking creatively about funding alternatives as he warns that sources funding has dried up and the number of companies that can receive funding will be lower.

If you would like to know in detail how you can reshape and strengthen your alliances in the face of the new reality of COVID-19 and how you can turn an idea of ​​social entrepreneurship into reality, we invite you to read the entire Rogelio class in this article see.

You can also learn about some of the measures that Tecnológico de Monterrey is developing to help new businesses succeed.

De los Santos insists that the institution he directs promotes entrepreneurship as the action taken to bring about changes and transformations that lead to a better world.

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