In this edition of MohrMondays, Felix Mohr gives some words of motivation for those who have been dreaming of running their own business.
COVID-19 has caused major changes to the global work environment, causing unemployment rates to skyrocket and major industries to go into freefall. Several industries, particularly tourism, have been decimated and will most likely take years to recover. Travel restrictions throughout the world have become as ubiquitous as travel was prior to the pandemic.
On the bright side, the opportunity to build a brand and turn yourself into an entrepreneur has become more ripe than ever.
“For the first time since the Great Depression, both advanced economies and emerging markets have gone into recession”
Credit: IMFBlog
During the lockdown, the thought of starting your own business has likely entered your mind. After all, no one really wanted to wake up at 8 a.m. to start working after the world started “working from home”.
Frankly speaking, just like you, I have had the idea of starting my business for quite some time. This idea turned into fruition towards the end of 2019. I was still working a full time job but started dedicating more time after regular ‘work hours’ towards the idea of running my own business and living a more free-spirited life.
COVID-19 cases in Thailand started surging toward the middle of March which resulted in national curfew being implemented. MohrWolfe was officially incorporated on the 17th of March right at the beginning of the lockdown. The office I worked from gave official notice that people would need to work from home for the next coming weeks or at least until further notice.
Right there, I made the decision that March 29th - beginning of the lockdown - would be the last time I worked a desk job; and the timing couldn’t have been better for me and my business partner.
While it was tempting to spend this time to relax and make up for the free time I lost during my full time job, we knew that the global slowdown was a once in a lifetime opportunity that may never happen again. You as the reader may be interested in starting your own business and the question I have for you is this: what is holding you back?
Whenever I ask my friends this question, the most common answer I get is: “I am good at my job.” They also add that they would like to start their own business within their industry, but simply lack the network to do so.
Without the possibility of traveling and having almost no other legally sanctioned social gatherings (even the presidential debates were not exempt from this), you now have all the time you need to turn your vision into reality. Can you imagine? All you have to do is fire up your laptop, go on Linkedin, and reconnect with your network. Go out, establish your network, and run that successful business you’ve been dreaming of.
It is really that simple. Most people around the world have gotten used to Zoom, Skype, or Whatsapp calls. Start connecting with people, get them on the phone, and talk to them about what you want to do. You could secure your first customer this month and turn that MVP you have been working on into an actual product! Start getting feedback from your customers and start the journey of building a business from scratch.
