FAQ # 3 - Do we need to pivot from current business model?
Advice - If your venture is in the affected spectrum of domains like Travel Tech, Hospitality, Gyms or Restaurant you need to think out of box to survive and adapt to the new normal post Covid situation. Try to salvage from whatever you have built till date and make the best use of assets and resources. I am seeing restaurants selling takeaways, waiters doing food delivery and Chefs conducting online cooking classes. Similarly technology can be pivoted for alternate use.
For others there is no need to panic, the market fundamentals are still strong (in India) and the situation is very much in control. If we ignore the political debates in media and compare ourselves to the rest of the world, our country has a better chance of quick bounce back. Already Edu Tech, Wellness Tech, Health Tech and Retail E-commerce is looking good. Anything which will help in remote and online management will take off from here. Once the industries start operations the HR Tech ventures will also see good days with fresh recruitment. So let's hold on!