Five Things Entrepreneurs Must Consider During the COVID-19 Crisis

April 7th, 2020

We’re now in our fourth week of personal distancing here in Canada.  The empty streets and offices are a good measure of how many of us are taking things seriously and doing our part to #PlankTheCurve (external link) . While some start-ups are very busy meeting new demands in crisis-related areas such as health care, remote work or home delivery, others are finding themselves less busy.  For those start-up founders and teams that may have a bit of time on their hands, here are a few things you may want to consider in this time of self-isolation and self-reflection.

1.  There is always some aspect of your business that needs work

Even if some of the priorities that seemed so pressing just a few weeks ago have been put on hold, there is always something to work on in a start-up.  That website update you’ve been putting off? Research on existing and new client profiles? Re-testing the UX of products or app interfaces? Accounting and financial procedures? Talking with your advisory board? The list goes on.  

2.  Choose focus instead of “busy traps”

Entrepreneurs often confuse being busy with making progress. Facing an open-ended period of self-isolation? No problem! I’m going to book 10 Zoom calls, start working on that book, develop new products, take three online courses and connect with new online Mastermind groups! Instead of throwing yourself into “busy”, consider using this time to ask yourself what will really make a difference, and then focus on it.

3.  Don’t forget your customer conversation

Just because your customers may be a little freaked out and hesitant to spend doesn’t mean they don’t want to hear from you. They may not appreciate another “COVID and my business” e-mail (wow, there are a lot of those), but they might like to hear a sincere message about your staff, the ethical focus of your venture, or simply that you wish them well and look forward to reconnecting when things clear up.  

4.  Your entrepreneurial skills have never been more needed

As an entrepreneur, the things you consider normal are anything but. The ability to start something from scratch, to see solutions where others see problems, to build a team and a structure that can move an idea forward. Right now, our society needs innovative solutions. So spare a moment to do what entrepreneurs do best – listen, watch, look for challenges, and propose new solutions.

5. Share the stories of what might be possible – the world needs them right now

Everyone’s news feeds are rather somber these days. And while we need to take this crisis seriously, we also need to share the hope that good stories can provide. Social entrepreneurs deeply understand social issues and have ideas that can make them better. Take a moment to share what you know, what you plan to do, and how the world could be a better and more just place if you succeed. Just the idea that you are thinking about a better world right now can inspire others and lift their gloom, even just a little.

In the coming weeks, I’ll be expanding on some of these themes. But in the interim, share your own ideas, make your own connections, and keep asking how we can make things better.