This Business News Story Was Uncovered By Us From: https://blog.eonetwork.org/2021/10/3-steps-to-determine-if-pivot-is-right-for-your-startup/
The nature of this article, that was first tracked down by our team of editors, will give the reader, if you choose to look into this topic of interest, more closely, to get get a far greater understanding on this Field of study. For other related articles just like this one, that highlights the points being referred to, please go to our blogs home page – that can be reached by going to: https://blognews.turnkeywebpublishing.com. Where you will Become aware of real solutions, to the challenges and information overload you face as an entrepreneur.
Learning how to adapt is the reality of any successful business, but COVID-19 was perhaps the ultimate stress test. In a matter of days, businesses in industries such as travel, entertainment and hospitality came to a grinding halt due to lockdowns. Many companies couldn’t withstand the shock of the pandemic and the economic havoc it wrought. And in the first year of the pandemic, the US Federal Reserve estimates that 200,000 more businesses shut down than usual.
Others not only survived the disruption, but thrived. Before the pandemic, for example, Instacart was gaining momentum—but the grocery sector was, for the most part, not digitized. All that changed when COVID-19 hit. According to founder Apoorva Mehta, the app saw five years’ worth of growth in just five weeks. Instacart grew more than 300 percent year over year, and its valuation doubled in 10 months—reaching an astonishing US$18 billion.
Others saw the pandemic as a chance to launch new ventures. When COVID-19 dealt a severe blow to a New Jersey-based deli’s event catering service, which accounted for 50 percent of its revenue, the owner transformed his indoor space into a small market stocked with produce and other kitchen essentials. The move was so successful that the owner was able to open a second location.
At my company, one of our key divisions runs large-scale live events—so we had to pivot to survive. Knowing this, we started exploring different ways to repurpose our event equipment. We considered converting our audiovisual equipment cases into medical units for emergency h… Read More
Our massive resource of training tutorials which are Fully free to access, is your ultimate training hub to discover precisely how to generate income streams from multiple niches and web startup ventures. Our blog portal is full of valuable tips , tools and insider top news stories, to help develop and grow your business – step by step: by showing you how it is executed – with expert analysis in uncovering hidden, untapped goldmines, that you can setup for long term success.
