So.. Who starts a business during a pandemic?

Good question. Well.... I did. I know, but lets take a look at what's going on out there. In January and February of 2020 Canada had roughly as many startups as closures. March, April and May saw closures far exceed startups. However, by June and through to October startups began to outpace closures with positive differences from July to October.

Figure 1: Statistics Canada

So perhaps there is some strength to be recognized in numbers. Or, perhaps misery loves company. Certainly the pandemic represents a paradigm shift and we all know that shift happens. When systems are shaken by an event of this magnitude there is likely to be a period of instability – some elements of the system become stronger and some seemingly disappear - possibly forever. For example, most of us are now so familiar with virtual meetings that the term “Zoom fatigue” is commonly used. Microsoft claims 75 million daily active users of Teams and Zoom claims 300 million participants (not users). Whether or not virtual communication will last at this frequency is pure speculation. It stands to reason, though, that this type of interaction is now common wherever internet access is available and that it is probable that the format is much more acceptable for many than it once was.

This and other fundamental changes brought about by the pandemic remind us in business of how dramatically and suddenly the opportunity horizon fluctuates. If not the pandemic then technology would certainly have produced - and is producing – opportunities while killing others. The excellent team members that were well equipped to react to the shifts in the domain may now be at some disadvantage as these changes occur. Remaining nimble and adapting is key to the survival of the business in the face of changes brought about by Artificial Intelligence, sociopolitical, legislative and environmental pressures - to name a few. It is probable that Upskilling will now be a key consideration in the strategic plan of most businesses.

So, while time will tell if this move was sound thinking or pure madness, I have embarked on a business journey that promises virtual delivery of organization specific upskilling. In a nutshell, this is a service that - while working closely with clients, taking direction from them and incorporating their specific requirements - produces optimized upskilling programs . So... who starts a business in a pandemic? Well... I did.

Please keep an eye out for regular posts in this blog. The content will be well researched and referenced. This is not an opinion blog. It is my intention to regularly post short, valuable and entertaining, research based observations and perspectives. Should you wish to discuss your upskilling vision please contact me at philcook@convernetics.com. Thanks. Be safe.

References

1.  Statistics Canada. Table 33-10-0270-01  Experimental estimates for business openings and closures for Canada, provinces and territories, census metropolitan areas, seasonally adjusted

DOI: https://doi.org/10.25318/3310027001-eng