Times are very uncertain and nobody knows when the coronavirus situation is going to end, according to the present world status it is not about to end anytime sooner. However, one can consider the changes that our economy has gone through, beginning from entrepreneurs to actual organisations which were already in function. After enough consideration, the question arises, how is a startup going to set itself up in a post Covid world?

Shrey Yadav, a renowned Entrepreneur and Influencer has been kind enough to share his views on the Start-ups that people might come up with after the pandemic is over.

If you remember clearly, we all started with two weeks off in last year March and soon after it extended to almost a year. It was not surprising when organisations described that people would have to work from their homes, unless and until the job requires fieldwork. Hence began the work from home criteria in enterprises and other organisations also, this was simply done too slow down or stop the spread of the virus. However, not everyone has been technologically developed enough to make users of the various online tools in order to imitate their workplace at home. They have relied only Internet, the younger ones and their other co-workers to allow them to get used to these things. Similarly, this would also play a role in the future start ups.

There are the cons and pros to working from home, we must list them down in order to have a better understanding to how future start ups can themselves decide whether they would like to continue the same way or prefer a different work space in the actual office.

Pros:

●       Reduction in travelling charges

●       Time saved do too no difference in distance

●       More free time to concentrate on situations back at home

●       Ease in providing for house work

Cons:

●       Lack of Internet or technological knowledge has led to more complications

●       Providing for a specific workplace back at your own home

●       Multiple people using the same Internet connexion at times, slowing down each others work progress

●       Lack of communication with coworkers

●       No perfect knowledge of the actual situation

There are easily more disadvantages than there are advantages to working from home. This clears it out for future start ups, one must prefer a separate workspace where the members come together to work along with products or clients. One certainly cannot work from home if they run a salon.

Online marketing

Online marketing is very prevalent, before the pandemic also people used to love E Commerce because of the advantages, you don't have to go anywhere and you are getting the products delivered directly at your home. The ideal approach to clients would be through online meetings using platforms like zoom, Microsoft Office, Google meet, Microsoft Teams, and so on.

Online marketing comes along with the requirement for online advertising also, because how else would a potential customer or client know about the services that they demand and about the place where they can find them. The pandemic has motivated digital marketers and entrepreneurs to think more about advertisement and spreading awareness.

Monetary support

People need to gather enough capital so that they can put them into their startup. without enough monetary and physical capital, no business can begin with their work. Investing in a businesses must, the more one invests, the more revenue generation it guarantees. People find various sources from where they can collect these resources like Angel investment firms, institutions and organisations for commercial loans, and so on.

Once you have the monetary support, move to budgeting immediately. Having a clear idea about where you must spend your money, according to priority, is not only going to benefit you in present but also in the future. some emergency funds are essential parts along with a clear spending plan. Don't forget to calculate your revenue and profits.

Backup plans for emergency purposes

Why would you need backup plans if not for an emergency? The business organisers an entrepreneurs always have a Plan B to look up to in case anything goes wrong in the short run. Long run situations require for different measures.

Setting up multiple businesses and organisations is a way to have a backup plan so that in case one of them shuts down, you will not be entirely bankrupt. As good as it sounds, it also requires capital to set up multiple businesses, usually people set up a reliable firm and then try to set up multiple from the revenue generated from this firm. When times are bad, life treats you like Antonio from Merchant Of Venice, make sure you have a spare pound of flesh and Portia in your life so that you can find a way out of your financial debts in spite of having set up multiple sources of income. Jokes apart, Backup plans are pretty useful.

In conclusion, all the above mentioned factors are equally important to successfully run a startup after the Corona virus pandemic is over. No matter in what order you follow the guidelines, as long as you do it correctly, there is no stopping you from succeeding.