It\u2019s an interesting time to get together with diverse people, try out new things, and see where the journey takes us.<\/p>\n
1. Modern Entrepreneurship Is Multifaceted<\/h2>\n
For some reason, even in crisis, the entrepreneurial market continues to grow. Companies such as General Motors, Microsoft, and Airbnb, were all started during periods of economic slowdown. This time around as well, things aren\u2019t that different.<\/p>\n
According to the U.S. Census Bureau<\/a>, compared to the second quarter, the third quarter of 2020 showed an astounding increase of 77.4% in business applications. When rated against 2019, that\u2019s a 38% increase.<\/p>\n One of the major reasons could be the fact that modern entrepreneurship is not always about starting a new business. The gig economy is at an all-time high. Skilled professionals continue to move to freelancing and renting out their skills.<\/p>\n If you don\u2019t feel ready to start your digital marketing company just now, try your hand at doing it for freelance and see how you like the freedom, flexibility, and how well you can fare against the stress of it all.<\/p>\n When compared to previous generations, modern employees increasingly gravitate towards jobs that make them feel something. A sense of purpose and usefulness is what drives this employee demographic.<\/p>\n As an entrepreneur, having these people in the workforce is an ideal situation for you. These potential employees are looking to learn and be mentored<\/a> at their jobs, a startup is the perfect place to have that career experience.<\/p>\n As an entrepreneur, having people who are willing to learn and grow with the company, you could not have asked for a more willing talent pool.<\/p>\n Speaking of the talent pool, let\u2019s all take a minute to fully appreciate how incredibly it has widened for the market. In 2021 alone, nearly 34 million people left their jobs looking for greener pastures. By greener pastures we mean better pays, more flexible working conditions, and jobs with more learning opportunities and career growth.<\/p>\n The rate for the Great Resignation does not show any sign of slowing down. With existing employees struggling to feel satisfied<\/a> in their jobs, it remains likely that the labor force will continue ballooning. This is a great time to snag the best minds for your new startup. Offer them better wages and friendlier working conditions to get the ball rolling.<\/p>\n Investors are sitting on large reserves of cash and are looking for opportunities that excite them. Not only private lenders and investors, but there are a huge list of government loans, grants, and programs<\/a> that are designed to bank small businesses.<\/p>\n What all these investors and programs are looking for is the novelty and the simplicity of the idea. The three things that you can rely upon to get you some generous interest from investors include:<\/p>\n If you can combine all three, great. If not, having your full grasp on one will be able to get you your foot in the door. We hope you can take care of the rest with a killer pitch deck.<\/p>\n One of the greatest perks of starting a business right now is that you\u2019ll know how to survive the hard times. If you can start now and succeed, imagine what you can do once things take a turn? With a limited budget to rely upon and fewer resources available, you will learn what you are capable of, you\u2019ll be able to think of creative solutions to mounting problems, and you\u2019ll know how to spend responsibly.<\/p>\n Most of all, compared to business that rely on huge nest eggs or thriving economies, you will be in a unique position to understand the importance of pivoting at the right time, and will be familiar with the signs of a bad tide. You\u2019ll never be caught surprised and will scale at a pace that can sustain the business.<\/p>\n The pandemic and the resultant widespread embracing of technology by several industries indicate that there are markets that won\u2019t sustain in this new world order. If you jump ship at the right time, and carve a niche for yourself, you are in a unique position to not only be an entrepreneur but a pioneer, too.<\/p>\n Once you do that, you will also be able to attain a position of thought leadership as you will have something credible to say. The more you speak from experience, the more people will listen to you and apply what you have to say.<\/p>\n It not only builds your brand but also improves your portfolio as an entrepreneur.<\/p>\n There have been industries and businesses that have profited insanely<\/a> as the world went into a lockdown. Ecommerce is one of them. In 2021, the global retail sales from eCommerce<\/a> were amounted at approximately $4.9 trillion. In the next 4 years, this figure is expected to reach at around $7.4 trillion.<\/p>\n If you are planning to launch a business in eCommerce, you could not have chosen a more ideal time. Even as in-person dealings have opened up, people have really become comfortable with online buying. The industry has also improved with better mobile-viewing stores, more tech-enriched retail solutions, and better online security.<\/p>\n During the pandemic, with travel restrictions in place, the drive to buy local gained huge momentum. When we couldn\u2019t visit the malls, we looked closer to home and found incredible products and services readily available with more personalization and customization.<\/p>\n However, this desire to buy local is not just borne of ease. The pandemic made sure that we all connect with each other at a more human level. In this attempt to forge close connections, our local shops, vendors, and businesses became the first people we came in contact with. Our local businesses also delivered spectacularly and now this has become a relationship that is totally bankable.<\/p>\n![\"Modern](\"https:\/\/www.surveycrest.com\/blog\/wp-content\/uploads\/2022\/04\/Modern-Entrepreneurship.jpg\" "\\"Modern")
\nImage Source: iStock\/sesame<\/p>\n2. Modern Workers Feel Fulfilled at a Job Where They Can Learn and Be Mentored<\/h2>\n
3. The Great Resignation Has Widened the Talent Pool for You<\/h2>\n
![\"The](\"https:\/\/www.surveycrest.com\/blog\/wp-content\/uploads\/2022\/04\/Great-Resignation.jpg\" "\\"The")
\nImage Source: iStock\/sesame<\/p>\n4. Investors are Excited to Fund Innovative and Relevant Ideas<\/h2>\n
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5. Starting on a Miniscule Budget Will Help Develop Better Business Habits<\/h2>\n
6. You\u2019re in a Unique Position to Become a Pioneer Entrepreneur<\/h2>\n
7. Ecommerce Has Gone Bonkers<\/h2>\n
![\"Ecommerce](\"https:\/\/www.surveycrest.com\/blog\/wp-content\/uploads\/2022\/04\/Ecommerce-Has-Gone-Bonkers.jpg\" "\\"Ecommerce")
\nImage Source: iStock\/TCmake_photo<\/p>\n8. People Want to Buy Local<\/h2>\n
9. You Won\u2019t Face a Lot of Competition<\/h2>\n
![\"You](\"https:\/\/www.surveycrest.com\/blog\/wp-content\/uploads\/2022\/04\/Face-a-Lot-of-Competition.jpg\" "\\"You")