Starting a business during a global health pandemic may seem like the last thing anyone should be considering, but one serial entrepreneur is urging startups to seize the moment, as now is ‘probably the best time to start a business that we have seen in our lifetime’. Gian Paolo Aliatis has founded a number of businesses during his successful career, one of the biggest flat-share operators in London, boasting over 1000 tenants within an 8 figure prop-tech operation.
“The biggest tip I would give to an entrepreneur looking to start a business right now is to look beyond the limitations of the current climate and see the potential opportunities which it now presents,” says Paolo. “It is this mindset and a ‘go get ‘em’ attitude which will be the difference between those who thrive during the coming months and those who fail to make the cut.”
From a recruitment perspective, Paolo explains that there is currently a huge pool of unemployed or furloughed people ready to join new projects and wanting to re-design their lives, this provides new businesses with the opportunity to secure highly valuable, keen talent, which may not have been as readily accessible in pre-Covid times. “Salary won’t necessarily be as much of an issue any more, people will likely have different priorities for their next role, including greater job flexibility and seeking new challenges,” he advises.
From a supplier perspective, Paolo believes that there are many supply chains that have been devastated and companies that have identified whole aspects of the business that need to be restructured. Those companies will require new suppliers who understand their new requirements and who can deliver on a tight budget. A good example of this transformation is in the property industry. Multiple property management operations with big structures and overheads have rapidly vanished which is opening doors for smaller, independent property management operations that can adapt to the existing environment by operating quickly, efficiently and effectively.
“This provides the perfect environment for new flexible operations with low overheads and a fresh point of view to capitalise on contracts which previously would have been out of reach,” concludes Paolo.