Today I want to discuss the real opportunity that I think there present right now, and why I think for entrepreneurs: now is your moment.
In writing this we’re just coming into 2021. 2020 has been a crazy year. It’s been a world that has presented us with challenges we never thought we’d have to deal with. But it’s also brought some positives. In things like regaining a sense of community; we’re encouraging each other to shop local, shop Irish, and check in on our neighbours and vulnerable.
But I think it’s also brought opportunity.
With the current news cycle of all the awful things in the world that are affecting so many, I was conscious of being sensitive. But the truth is, that even though terrible things are happening, some people have found value during this crisis. My local Irish shopkeeper has never seen so much business and things like homegrown local vegetables and goods for delivery are shooting up in demand.
Fear Makes Money
From looking at social media and talking to those around me, everything is so geared towards the negative. And there is a lot of negative out there. But there is also a lot of positive that isn’t being documented.
The thing is, fear sells. Presenting newsreaders with a threat, they become hooked through wanting to feel protected by accumulating information and to be told what to do: whether it be to isolate, wash your hands, or get a vaccine.
The news is economically influenced to focus on the ‘threatening’. It’s not trying to brainwash you, it’s just trying to make money. Bad news sells far better than good.
But not everything is bad.
Now is Your Moment
Entrepreneurs are the driving force of economies. They’re there to take action and inspire at times like this. So, as much as it is ok and perhaps necessary for a lot of people to feel fearful, it’s definitely not the case where entrepreneurs need to be.
In writing this, I’m hoping I reach some entrepreneurs out there who are looking for that little push or validation that it is ok to see opportunity in all this. Opportunity that is there waiting for you.
And if you don’t capitalise on it, I guarantee you’ll look back and regret it.
History Repeats Itself
When you look at times like these in history, when similar things have happened, it’s moments like this that when the highest transfers of wealth take place, when millionaires are made, and when start ups – start.
Why Do Start Ups Launch in Crises?
The key reason is twofold;
Reason1: People are changing their patterns. The majority of people are working from home, spending a lot more time at home and with their families. They’re thinking about their homes differently, so they’re investing differently. They’re not spending huge amounts of time commuting to meetings – they’re all on Zoom.
There are so many differences like that. And it is these differences that create gaps in the market that present themselves to be filled. Every single one opens up opportunities for entrepreneurs to capitalise on.
Reason 2: All those opportunities usually get sucked up and capitalised on by “Corporate Giants”. In massive big business, there is a huge amount of momentum going on behind them, with tons of capital and resources.
The Game Has Changed
That is really hard to compete with during normal times.
But the exciting thing about this moment is that those big businesses who have built their model on the way things were, are now in the middle of a huge global economic shift. And they are struggling to change and adapt.
Big businesses are notoriously slow to made decisions and change. So they’re really struggling right now. And as a result, can’t absorb all of the usual opportunities the way they usually do.
They will struggle to survive within the next year and even longer.
Normally, a lot of the time when an entrepreneur comes up with an idea, Big Business comes and snatches it up. But with this delay in reaction from the powers that be that are welathy companies – this leaves room for the little guy. And it’s why the little guys have been doing so great since lockdown. People are realising the value of them. So this is why – as an Irish entrepreneur – now is your moment.
So, as I said, if you’re out there with an idea – push yourself. And if you need a hand – don’t hesitate to reach out.