The coronavirus (COVID-19) pandemic is not just posing an enormous risk to the physical health of millions of people around the world. It also represents a monumental economic threat that could echo the devastation of the Great Recession; or possibly even the Great Depression.
Recent news reports would suggest that the coronavirus (COVID-19) pandemic is going to have a massively negative impact on the broad economy in general, and certain sectors especially such as airline travel, tourism, hospitality, and entertainment. Indeed, even in areas of the world where restaurants, bars, clubs and coffee shops haven’t been ordered to close down, owners are reporting a catastrophic drop-off in customers and revenues; forcing some of them to reduce their hours or temporarily shut down altogether.
Sanjeev Mansotra excelled in his academics, pursued challenging subjects, and shadowed his father throughout his life. Doing so helped him glean the most interesting aspects of being a successful businessman from the experiences his father shared with him. Over the years, he found himself dreaming about having his own company.
Sanjeev Mansotra began learning the nuances of business and trade at an early age from his father. As his lessons continued, he fell in love with the process and knew he wanted to be working in his own company, serving others as an adult. He recalls devoting much of his youth as well as early adulthood years to learning everything there is about starting and operating a successful business.
Starting up a new business isn’t getting any easier. As any entrepreneur that is just starting out will tell you, when it comes to your new business you will need every advantage you can get your hands on, and an incubator can be a powerful advantage indeed. To an up- and-coming business, the incubator is like a mentor, there to assist in the process of getting things going and helping the business achieve its full potential down the road. The bottom line is, you don’t have to put yourself under the pressure of being entirely self-sufficient as an entrepreneur when you’re first starting out; as Sanjeev Mansotra will point out, incubators can be a helping hand that provides enrichment for your new business. Here are some of the biggest ways that an incubator can help your startup.
As we all know, the very nature of business is to be in a constant state of flux. Change is inevitable, and any successful business is always implementing changes at every level, from working methods to customer relations; this adaptation is what keeps the business afloat. The driving force behind positive, impactful change is innovation: The ability to see things as they are with a tight focus and develop new ideas that will challenge this status quo with the intention of improvement. Innovation might be messy, difficult, and sometimes even unpredictable, but it is an essential part of any business, at any stage. Sanjeev Mansotra has the details on why this is the case and how it can have a positive impact on your business.
