How to start your startup amid Covid-19 challenges

How to start your startup amid Covid-19 challenges

How to start your startup amid Covid-19 challenges

Your startup’s journey has become the focus of your attention, trying to work hard to attract funds and build a team, trying to spread awareness about your brand and the product or service you provide, but now you have a completely different kind of crisis-making event: there is a pandemic ravaging the world, with its consequences Economic potential.

What can you do for your startup?
To start with, don't be impulsive, frustrated 
Your focus should be on specific aspects: your team and customers, then your sales, and finally your investors.
The term Bootstrap, or belt tightening, indicates that you will accomplish the task in front of you with the least amount of cache, and without relying on loans and finances, this is the time to adopt this mentality.
Review your budget, deduct all unnecessary expenses and explore ways to extend the life of your company’s money.

Talk to your team, show them how eager you are to want to keep everyone, and not give up on anyone in the upcoming period, and join them in finding ways to cut the budget temporarily, because that is the price of spending more time together and completing what you have started.

Combine this with homework policy, which in turn reduces the personal costs of your team members such as daily transfers and secondary costs such as food and coffee. By doing this, you offset part of the lowered percentage of the salary, and keep your team safe from any unnecessary virus exposure. Two birds with one stone.

Discuss with your team how you can make work from home productive and effective, and maintain the bond between team members. If you have a weekly meeting for the team every Thursday, for example, continue to establish it, but online, if you are used to leaving after work, meet at the same time Online, do not change your schedule, just make the Internet a medium of communication.

During the next stage, do not start any expansion activities that require a lot of money, as what to look for are those strategic customers who will give you the credibility that you need most, in other words, you are looking for customers with valuable and well-known brands that help you add them in Your client list To improve your position in negotiating with other clients, you are also looking for those deals that enable you to make money quickly. Try to balance the two types. Design your sales funnel effectively with both types in mind, and use your knowledge to connect you directly with the right people from the customer side.

Now that you have a business plan, talk to your investors about it and ask them to support them in closing these sales deals by taking advantage of their knowledge and their network, start negotiations with them also to provide you with an emergency budget, which you will receive by the end of the year either in cash, or through more shares in Your company or a combination of the two. Just make sure you have an emergency budget when needed.

If there is time to deserve your title as CEO, now is it!
The current situation is a great opportunity for you to have your team believe in your ability to drive, for your customers to become your allies, and for investors to be your best promoters. Most importantly, stay optimistic and open to possibilities and variables.

Remember that some of the best innovations in the world are born in times like these. why? Because conditions compel you to innovate, and to choose uninhibited methods.