It can be considered as an opportunity disguised in crisis. Businesses exercise the liberty to carry on their work smoothly without being bothered about violating the safety protocols of the government or fear of contracting the deadly disease. As the lockdown forced the companies to discontinue their functioning from the office, the only option available was to take leverage of the online platforms.
New ventures not just garner financing but also have the potential to drive the sale of the products/ services based on the uniqueness of the idea.Īlthough robust digital penetration had already been underway, the pandemic only accelerated the digital transformation. Businesses have the opportunity to venture into new areas and tab on the unexplored segments. Ironically, the crisis has given a boom to need-based entrepreneurship.
They must be perceptive enough to comprehend the innovations desired by the society and deliver solutions that are in service to the community. Hence, businesses require being agile enough to come up with unique innovations that help in grabbing the attention of the investors as well as the stakeholders. As the macro economy across the world witnessed discouraging sentiments, the company finances were also disrupted severely.Īcquiring investors which was already a challenge even in the pre-pandemic day only intensified with the arrival of COVID-19. It is a universally accepted fact that funding plays a very crucial role in deciding the fate of the business. Let’s recapitulate some opportunities on which entrepreneurship can bank on for a more lucrative future: But as Albert Einstein has rightly said “in the midst of every crisis, lies great opportunity,” undeniably the pandemic opened new avenues for the entrepreneurs to capitalize on and grow their business and at the same time also contribute to the revenue model of the country. But there have been times when people have doubted the future and expressed the uncanny feeling of lingering despair.Įntrepreneurship was no exception even this lucrative segment had to bear the brunt of the economic slowdown. This was a very tactile move from Yeezy.Įntrepreneurship Leading The Frontier For Adaptation During The PandemicĪs the whole world has been relentlessly reeling under the influence of notorious coronavirus for more than a year and a half, humankind has come a long way ahead in adapting to the perennially changing circumstances. With macro and micro influencers at the fingertips of many brands they are guaranteed sales, Social media is not only a place where people can view what others are doing but they can also present a façade to peers meaning people will copy the likes of Kim Kardashian to impress others. This means that they make more profit and more money can be pumped into the production of the products and less into the promotion. Brands that already have a mass following have followed suit. Kim Kardashian promoted the release of the new line by getting pictured by paparazzi and the images being shared online.
With social media being such a vital part of everyday life being how we connect with our loved ones and keep up with our favourite Celebrities & brands such as Yeezy are using this to their advantage. Kanye is married to reality star royalty and Queen of selfies Kim Kardashian who has an Instagram following of 164 Million. Kanye West ‘creative Director of Yeezy’ had his thinking cap screwed on tightly when thinking of exposure for his brand and advertisement for the launch of Yeezy season 7.