Sunday, November 29, 2020

How to Manage your Startup in COVID-19

The Takeaway:

Are you finding it exhausting to manage your Startup in this COVID-19 Pandemic? Don't worry. We are here for your help!

Are you finding it exhausting to manage your Startup in this COVID-19 Pandemic?

Don’t worry. We are here for your help!

Today, we will be talking about how to manage your Startup in COVID-19.

The ongoing COVID-19 Pandemic has affected the entire economy of India.

People are not getting jobs; they don’t have jobs. They are running out of money and much more severe issues.

Amidst these critical conditions, it is evident that your Startup will suffer loss.

You might not know this, but you can save yourself (and even your Startup) from this loss.

 

How has COVID-19 affected several Startups so far?

The survival of various startup companies has become tough in this pandemic situation.

Everything (the entire country and its economy) was at halt from the last three months.

This long break from the work and office has ceased the growth of Startup companies.

Startups are of great importance for a vast country like India. 

The simple reason behind this is that they are the driving force of the economy.

They are the driving force because they significantly contribute to the country’s cumulative productive growth.

Even in the pandemic crisis, they were significantly contributing to the economy.

As we have thousands of small startups in our country, they acted super soon to this pandemic situation.

As per the research, small companies were the first to shift their work to the online platform.

Not only the survival, but this Pandemic has limited the creation of startup ideas in our country.

People are now somewhere feeling scared to risk their efforts(also money) in something new.

Not only small startups but also significant companies (especially the Fintech companies in India) are bearing losses.

 

How can Startups survive this COVID-19 Crisis?

You can’t ignore that there is a pandemic going on and that us why loss is bound to happen. 

Somewhere or the other, your business will be affected by this.

But you can make sure that there are no adverse effects on your business because of this.

But how can you do this?

Let’s know the answer to this.

 

#1 Overcome Short Term Challenges

You can’t decide what will happen to your business in the coming year, but you can plan something for 2-3 months.

Focus on planning and achieving short term goals rather than going for long term challenges.

If you focus on short-term challenges, you will get motivated to do more and even get slow and steady results.

 

#2 Hire People

No, I am asking you to hire people for full time or permanent jobs.

This is when companies are getting rid of their extra expenses, and nobody wants to hire employees.

But instead of employees, you can hire people on contracts.

This simple method is called c2h.

Now, if you are thinking about c2h meaning, then don’t worry, we are here.

It stands for ‘Contract-to-hire.’ In this, you don’t hire people for full-time permanent jobs.

This will help you a lot in cutting down your expenses(without compromising your work).

 

Conclusion

We know this is tough for everyone to survive, but you have to do this.

If you read the startup stories of famous companies, they all had their highs and lows at one point or the other. But you can’t give it up quickly.

All the best!

Disclaimer: The article reflects the opinions of the author and is not representative of CloudStory or TimesNext’ views.
The article does not offer any investment advice. User discretion is advised. Extensive and diligent research should be carried out by the reader before making a decision or buying any product or services.

Aakriti Suri
Aakriti Suri
Aakriti Suri is a Commerce graduate who aims at enlightening people through her writings. Apart from being a content writer, she loves to chit-chat and binge-watch.

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