2020 has already posed its fair share of challenges to entrepreneurs. Across the board, the past few months have been full of highs and lows, and the state of things can be summed up in one word: unpredictable. Especially when it comes to the era of coronavirus, there are unprecedented challenges for entrepreneurs in 2020. But Dave Pascht, an entrepreneur who excels at thinking on his feet, knows that there’s still plenty of opportunity to excel in the coming months. Here are five ways entrepreneurs can survive and thrive in 2020.
- Take advantage of social media
Coronavirus is leading to many people practicing social distancing and working from home. With all that extra time at homes, comes extra time on social media platforms. For the entrepreneur looking to launch their next big idea, this could present an opportunity, according to Pascht. It’s very likely your next idea could be launched through social media, and there may not be a better time to take advantage of social media, than right now.
- Leverage social media marketing
Adding onto that, Pascht recommends using this time to leverage social media marketing. People are on their social media now more than ever, and they’re spending their days at home scrolling. If you see all this usage as potential advertising revenue, you might be able to enjoy explosive growth in your advertising profits.
- Find mentors to help guide your success
A common misconception among entrepreneurs is that they have to find their way to success on their own. But the truth is, there are plenty of successful people who have come before you, and most of them are happy to share some of their secrets to success. Find people who are in your field, who you look up to, and who you would want to be. Surround yourself with mentors who inspire you, and help you grow, in order to survive and thrive in the coming months.
- Be ready for the ups and downs
In order to survive and thrive in 2020, you need to prepare for any and all scenarios. You need to be financially ready for the ups and downs, and emotionally ready for whatever can come your way. This means you need to have different plans in place, in case things take a turn one way or another. Have as much cash set aside as you can for an emergency plan. And be ready to push on in the face of dejection. Because there will be challenges, but the question will be if you can push through them.
- Build a team that can help you on your journey
Having a solid support system can help boost your brand and your product to the next level. Even if it’s one valuable person under your belt, having a team behind you can help launch your venture to success. Build a team that can support and help you on your journey, so you have people to turn to, to help you build your empire.
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