18 minutes | Aug 11th 2020

523: Creating Opportunities in a Time of Crisis

In today’s episode of The Startup Chat, Steli and Hiten talk about creating opportunities in a time of crisis. During these difficult times, a lot of business are going to struggling to stay alive, and even more, are going to fail. It’s tempting for some founders to give in to the challenging times which ultimately results in the collapse of their businesses. However, it doesn’t necessarily have to be so, with a little creativity and some innovation, founders can adapt and still keep their businesses afloat in these times. In this week’s episode, Steli and Hiten talk about reinvention versus destruction, how this pandemic is negatively affecting some businesses, examples of example of entrepreneurs taking advantage of the current situation and examples of business that are innovating in this crisis much more.   Time Stamped Show Notes: 00:00 About today’s topic. 00:37 Why this topic was chosen. 02:17 An example of an entrepreneur taking advantage of the           current situation. 06:19 How some restaurants are really innovating right now. 07:53 Another way some restaurants are innovating. 09:19 One other way some restaurants are innovating in this           crisis. 12:02 How a startup in the fitness industry is innovating. 06:01 How being successful in a time of crisis is all about getting creative.   3 Key Points: Tailors are very risk-averse. Don’t let things that get in the way of others get in your way. I’ve been most impressed by the number of restaurants that are really iterating right now
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