Topic 3: Analyze Real-World Examples of Entrepreneurs Overcoming Challenges
One of the biggest challenges in the contemporary market is overcoming the consequences of the recent COVID-19 pandemic. However, strategic planning and innovation helped many companies and organisations thrive and succeed.
- ReSource Pro insurance in the USA was one of the first to adopt a totally remote work model and give emphasis to the client-facing skills of its employees.
- Brill Media, an advertising agency in the USA, encouraged customers to advertise their work by drafting some simple instructions, which became a 70-page guide to marketing during a recession, available for free on the company’s website.
- ArtNight, based in Berlin, offers art workshops online and delivers painting kits to customers’ doorsteps in advance.
- Zyng offers digital calendars, virtual catch-ups etc. with one-click integration with Zoom, Houseparty and other face-calling software.
- The French luxury group LVMH used its perfume and cosmetics factories to produce hand sanitiser.
- Pot Gang, a subscription service in the UK, sends out a monthly box of different types of seeds for people to plant, along with instructions, pots, and compost.
- Occupyd is an online platform that connects businesses and individuals looking for workspace with companies looking to make use of their extra capacity.
- Crediton Community Bookshop in the UK offers virtual tours and expert advice on books, along with a delivery service.
- Encore offers personalised music messages online, allowing customers to commission one of their artists to deliver a message on video and then sing a cover of a song. They can also rewrite the lyrics of a song, design their own album covers, and then have a musician perform the altered lyrics.
In general, innovation can come at any time and place, and challenges like the pandemic have proven that developing an entrepreneurial mindset is a dynamic process that can be adapted to the current circumstances and lead to unexpected results.
