The pandemic created a very challenging scenario for many businesses and career paths. With work at home prevalent across many industries, yet still a very real desire to meet people and function as we did in the past, the ways of the workplace today have forced us to do things differently.
Being flexible and innovative is of upmost importance.
Consider this, according to U.S. census records, there has been a 24% increase in the number of new businesses created this year compared to last year and venture capital funding has reached record highs. As a point of comparison, new business formation declined during the 2008 recession, while business growth rates hovered at about 4% from 2010-2019.
The pandemic has unleashed economic creativity!
As this analysis from the Chicago Booth Review suggests, businesses that have survived the pandemic should be looking towards innovation and growth to stay ahead of the potential of many newly funded competitors. Established businesses have an advantage of knowing their customers’ needs. Using innovative ideas to meet those needs can lead to new opportunities for growth!
~ Brian Kasal- The Leadership Matrix
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