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How has the COVID-19 pandemic changed the way entrepreneurs approach their business strategy?

Shira Robley

Ah, the pandemic of pandemics! We all agree that it has been one of the most unpredictable and altering phenomena of our lives. The COVID-19 pandemic has changed the way we interact, work and live, but what about the way entrepreneurs approach their business strategy? Let me tell you, it has been a wild ride!

Before the pandemic hit, entrepreneurs had mainly three attitudes towards their business strategy: innovate, follow trends or maintain the status quo. However, the pandemic has brought a new dimension to this game, and entrepreneurs have had to adapt their strategy to survive. But who are these entrepreneurs, you may ask? Well, in my opinion, entrepreneurs are a bit like superheroes, just without the capes. They come in different shapes and sizes, but they all share some key qualities: resilience, creativity and the ability to pivot.

When the pandemic started, many entrepreneurs struggled to find their footing. Businesses had to shut down or operate at a fraction of their capacity, which led to panic and uncertainty. As a user of social media, I saw many entrepreneurs struggling to keep their businesses afloat while trying to navigate an unfamiliar and ever-changing landscape. However, as the old saying goes, necessity is the mother of invention. The pandemic forced entrepreneurs to innovate and come up with new ideas and strategies to survive. Many entrepreneurs pivoted their business models to adapt to the new normal. For example, restaurants started offering take-out and delivery services, and fitness studios moved their operations online.

The pandemic has also changed the way entrepreneurs approach trends. In the pre-pandemic world, trends would come and go, and entrepreneurs would have to decide whether to jump on the bandwagon or not. However, the pandemic has brought some trends to the forefront, and entrepreneurs who were quick to recognize them have been able to pivot and adapt their strategies accordingly. For example, e-commerce has exploded during the pandemic, and entrepreneurs who were quick to embrace online retail have seen great success.

Finally, the pandemic has forced entrepreneurs to re-evaluate the status quo. In the pre-pandemic world, many businesses were content with the way they operated and didn't see the need to change. However, the pandemic has shown us that the world can change overnight, and businesses that weren't prepared were left reeling. Entrepreneurs have had to be more proactive in their approach to business strategy and be prepared to change on a dime.

So there you have it, folks. The COVID-19 pandemic has been a game-changer for entrepreneurs. They've had to adapt, pivot, and innovate to survive. But I have to say, watching these entrepreneurs rise to the occasion has been truly inspiring. They've shown us that even in the midst of a global crisis, innovation and resilience can help us to thrive.