7 Lessons learnt by Entrepreneurs in this lockdown

7 Lessons learnt by Entrepreneurs in this lockdown

Zee Nepal recently had a talk with Shraddhesh Acharya, CEO of Ally For Teens Internationals (AFTI), a youth influencer and Kathmandu based Social Entrepreneur. One among the youngest CEOs of Nepal shared his daily schedule of planning a “post-Covid-19” action list which included the concept of new normal.

Acharya claims society will surely have a “New Normal” in every dimension of each and every sector from informal to big corporate. “The new normal might not be easy to adapt at the beginning but we need to be mentally prepared for it,” he said.

He added, “Coronavirus will either add or remove some divisions of many businesses. The daily essentials are being supplied by many well-known food delivery brands like Foodmario which is an example of adding new division and adapting to this crisis.” Ally For Teens Internationals (AFTI) has also developed new sections of services/products and new working modules staying in the niche” said Acharya.

Except for the positive side, he expressed his dissatisfaction with the government and tax clearance deadline. Through his personal experience and research, he exclusively gave NepalPost Daily 7 Lessons that every entrepreneur learned in this hard time of pandemic and lockdown.

1. Cash reserve for 6 months for your business
“If your business is at least 2 years old, no matter about profitability, you must have 6 months cash reserve for hard times. The corona virus is an important blow for understanding the value of reserve cash.

2. Work from home system
He said with a conviction “It’s a new start for us in terms of “working from home”. Talking about normal days of Kathmandu, even if we could divert 1 hour of our time getting stuck in traffic jams into office work, the entire production/brainstorming percentage will drastically increase.”

3. Employees productivity 
He said, “I have come to know the real dedication of my employees towards their respective departments in these 60+ days of staying at home and observing each and everyone’s work closely”. “My list of promotions/demotions for my staff is ready” he added.

4. Reviewing the decisions/ work taken before
“Lockdown is more like watching a YouTube video of your previous decisions at 0.5 speed. You have more time and can discuss in detail” he said with a smile. He said that turning old chapters always gives lessons or motivation for the coming days.

5. The true meaning of getting into “Virtual World”
“In order to survive and grow post covid, every sector must get the “virtual version” of its services. Working one to one will be a challenge for a long period of time.” Acharya added.

6. Avoiding COD/Cash Transactions 
He said, “This is the time we must promote a cashless society. Till the majority of the consumers (who have access to the internet) won’t prefer payment gateways, we cannot completely risk ourselves being dependent on the virtual forms of services. Cash on Delivery (COD) must be minimized by all the brands belonging to any criteria.”

7. Being Optimist and Opportunist
“This word might give negative meaning to many people, but you have to be an opportunist. This is the time when most of the services/products which never had a market will now sell if pitched correctly by grabbing the opportunity,” said Acharya.

He also requested every fellow entrepreneur to have mindful time being relaxed to the possible extent and get their receptors ready for new ideas, changes, and opportunities.

Dipu Barnawal
author

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