{"id":14968,"date":"2020-05-29T11:35:22","date_gmt":"2020-05-29T11:35:22","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=14968"},"modified":"2020-05-29T11:35:22","modified_gmt":"2020-05-29T11:35:22","slug":"startups-thoughts-on-the-impact-of-covid-19","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/startups-thoughts-on-the-impact-of-covid-19\/","title":{"rendered":"Startups\u2019 thoughts on the impact of COVID-19"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">As with most businesses, startups are preparing to deal with the long-term impact of the COVID-19 pandemic and associated measures to reduce its spread. During the recent <\/span><i><span style=\"font-weight: 400;\">How are Startups Gearing Up for the Post-COVID World<\/span><\/i><span style=\"font-weight: 400;\"> online conference, entrepreneurs shared their thoughts on what the pandemic will ultimately mean for them and their businesses. Here\u2019s are some of those thoughts:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Mixed bag of gains and losses<\/b><span style=\"font-weight: 400;\"> \u2013 many businesses are seeing a surge in online activity. On the one hand, this is positive as it is boosting the number of users for online-based companies. At the same time, the value of transactions on average is much lower as the purchase of big ticket items has fallen significantly. Moreover, many businesses were not adequately prepared for this unexpected surge in online activity.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Opportunity in adversity<\/b><span style=\"font-weight: 400;\"> \u2013 the pandemic is opening new opportunities for businesses to explore, and many are retooling their strategies to fit new demands. It\u2019s likely that the post-COVID-19 world will look very different from before, with an increased emphasis on digital convenience.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Qualitative growth over quantitative growth<\/b><span style=\"font-weight: 400;\"> \u2013 prior to the crisis, many startups were (perhaps overly) focused on growth in terms of numbers. The pandemic may very well change that as they start to realize the importance of ensuring quality and overall sound (and resistant) economic models.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Cost rationalization and fundraising<\/b><span style=\"font-weight: 400;\"> \u2013 startups will need to ensure their spending is kept under control and their business models are strong as consumers are likely to focus less on discretionary spending and more on savings in the short and possibly medium term.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Boosting employee morale<\/b><span style=\"font-weight: 400;\"> \u2013 all companies need to find ways to keep their teams engaged and motivated amid short-term uncertainty.<\/span><\/li>\n<\/ul>\n<p><iframe loading=\"lazy\" width=\"618\" height=\"348\" src=\"https:\/\/www.youtube.com\/embed\/53Pp5KzjWKQ?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-14968 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='What China can teach the world about digital transformation'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/what-china-can-teach-the-world-about-digital-transformation\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/12\/1016-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-14253\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-14253'>\n\t\t\t\tWhat China can teach the world about digital transformation\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='The trouble with marketplace lending today'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/the-trouble-with-marketplace-lending-today\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/accounting-information-index-data-annual_1232-4192-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-9890\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-9890'>\n\t\t\t\tThe trouble with marketplace lending today\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='BFC FinTech Monitor (12th \u2013 24th May)'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-12th-24th-may\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/05\/6aa4e5d3-634b-237a-77f6-3c0a8f0d007d1-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-16054\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-16054'>\n\t\t\t\tBFC FinTech Monitor (12th \u2013 24th May)\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>As with most businesses, startups are preparing to deal with the long-term impact of the COVID-19 pandemic and associated measures to reduce its spread. During the recent How are Startups Gearing Up for the Post-COVID World online conference, entrepreneurs shared their thoughts on what the pandemic will ultimately mean for them and their businesses. Here\u2019s &hellip;<\/p>\n","protected":false},"author":12,"featured_media":14970,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,404],"tags":[530,335],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14968"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=14968"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14968\/revisions"}],"predecessor-version":[{"id":14971,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14968\/revisions\/14971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/14970"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=14968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=14968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=14968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}