Although the pandemic undoubtedly made it much harder for many budding entrepreneurs and small businesses to get off the ground and survive, the number of entrepreneurs willing and brave enough to take that leap soared.
The pandemic seemingly created just the right conditions for entrepreneurship to flourish. With many people working from home and taking time to reflect on the big questions, answers came in the form of innovation, passion and drive. Twill’s ‘Breaking free from the 9-5’ interview series sheds light on some of the important steps needed to start a new business.
1. Be open to learning
There are countless stories of individuals taking the time to reskill or upskill during the pandemic, taking advantage of opportunities to learn, develop and grow and, for some, this resulted in the discovery of an entrepreneurial flair that they may not have otherwise unlocked.
For Alice Burrell, starting her floristry business Peonies from Pluto came about by accident after she ‘took a floristry course to gain more experience within the industry’. With no prior entrepreneurial experience, she was able to turn her new skills into a successful small business. Being prepared to learn is an important piece of advice Lucie from EYO Active is keen to share with other entrepreneurs. “There is always something that comes up that I don’t know the answer to or how to do it, but that is all part of the journey. We are here to learn”, says Lucie.
2. Offer solutions
During the pandemic, first-time solo entrepreneurs pursued new ventures, many of which were in online retail, with these business registrations accounting for 20% of the excess registrations seen at the time. The specific conditions of the pandemic and the changes in behaviour it caused created plenty of problems to be solved.
Many entrepreneurs saw opportunities in consumers’ changing interests, such as Mallika Basu from SIZL who, “saw home cooks struggle with recipe ingredients and mealtime inspiration” during lockdown and Natasha and Jack who provided a solution to many hospitality providers during the lockdown by starting their business, Lockdown Liquor.
3. Set boundaries
Starting a new business requires a huge commitment of time and energy, something that can feel completely overwhelming to many. However, despite the input needed, entrepreneurs are able to find ways to balance their business with other priorities.
According to research by Santander, 27% of students currently run or plan to run a business whilst at university. Nadia, owner of haircare brand Nu Elefa Naturals, is no stranger to juggling these two demanding commitments, having had to run her business whilst studying for her degree. In order to get the balance right, she recommends you create a schedule and dedicate time to different responsibilities. ‘Remember to rest! Working for yourself often means no strict 9-5 office hours to control when you work. Set yourself working hours and try not to check work emails on breaks”, says Nadia.
