Starting A Business During The Pandemic

2020-11-29 by Ronn Torossian
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The pandemic that started at the beginning of 2020 and didn’t end in sight has seen many people losing their jobs and many businesses suffering or closing down. This has led to people either taking a break from their startups and waiting for the pandemic to come to an end or starting fresh and looking at their work or businesses in different ways to keep going.

However, one industry branch that hasn’t stopped working, and has even seen an upswing throughout all the chaos, has been the tech industry. Many people have even decided to start their own tech business venture during the pandemic and have seen a lot of success, and there are several reasons for this.

Due to the pandemic, many countries imposed strict restrictions, including the closure of different businesses, curfews, and even complete lockdowns, which led to an increase in the use of online platforms. Businesses that continued working during this time did so remotely and have heavily relied on platforms such as Zoom, Google Hangouts, and Microsoft Teams to stay connected and continue meetings with their clients.

Meanwhile, many people have also been increasingly using these platforms to stay connected to their family members and friends. Another tech niche that’s seen an increase during this time was eCommerce, as people couldn’t do their regular shopping in brick and mortar stores.

Now, the new normal for our society is to work from home, and everyone from Fortune 500 companies to startups have adopted this policy and will continue working this way for the coming months. There are plenty of benefits to working from home, including saving money and having more time as people aren’t commuting.

This benefit of having more time, which people don’t usually have, means that more people can start a business venture on the side. When paired with all the technology that we have at our fingertips, this is a great time to start a new side hustle and work into creating something that many people will start using very soon. Furthermore, many currently successful companies started in the middle of an economic downturn and quickly developed into big names in their niches, such as Airbnb or Uber.

Plenty of big companies decided to slow down their operations during the pandemic and are currently waiting for the situation to be over to resume normal production levels. With slowed operations and many businesses cutting staff, it’s time for tech businesses – including those of us in digital pr –  to take advantage of this opportunity to promote and market themselves. This means that there’s less competition in the market, making it a great time to introduce a brand new idea, product, or service. While the difficult times are far from being over, there’s a silver lining in every situation and opportunity in the tech industry for businesses that are just starting to capitalize right now and become big corporations in the coming years.

Ronn Torossian: Insights from a Native New Yorker and CEO of 5WPR

Ronn Torossian is the founder and CEO of 5W Public Relations, one of the largest independently-owned PR firms in the United States. With over 20 years of experience crafting and executing powerful narratives, Torossian is one of America's most prolific and well-respected Public Relations professionals. Since founding 5WPR in 2003, he has led the company's growth, overseeing more than 200 professionals in the company's headquarters in midtown Manhattan. With clients spanning corporate, technology, consumer and crisis, in addition to digital marketing and public affairs capabilities, 5WPR is regularly recognized as an industry leader and has been named "PR Agency of the Year" by the American Business Awards on multiple occasions. Throughout his career, Torossian has worked with some of the world's most visible companies, brands and organizations. His strategic, resourceful approach has been recognized with numerous awards including being named the Stevie American Business Awards 2020 Entrepreneur of the Year, the American Business Awards PR Executive of the Year, twice over, an Ernst & Young Entrepreneur of the Year semi-finalist, Metropolitan Magazine's Most Influential New Yorker, a 2020 Top Crisis Communications Professional by Business Insider, and a recipient of Crain’s New York 2021 Most Notable in Marketing & PR. Torossian is known as one of the country's foremost experts on crisis communications, and is called on to counsel blue chip companies, top business executives and entrepreneurs both in the United States and worldwide. Torossian has lectured on crisis PR at Harvard Business School, appears regularly on CNN & CNBC, is a contributing columnist for Forbes and the New York Observer, and has authored two editions of his book, "For Immediate Release: Shape Minds, Build Brands, and Deliver Results With Game-Changing Public Relations," which is an industry best-seller. A NYC native, Torossian lives in Manhattan with his children. He is a member of Young Presidents Organization (YPO), and active in numerous charities