The economic uncertainty which followed the pandemic made startups looking to how they can survive an increasingly likely drought. Startups need to change from “growth at all cost” unicorn mindset, to a more drought-resistant mindset.

You will have to be prepared to explain how your startup is recession-proof and not how it was viral which was needed before the pandemic. Camels are the post pandemic Unicorns. Camel is essentially a startup with the following characteristics:

  1. Resilient — preparing for the future through thoughtful, strategic growth
  2. Cautious — they maintain reserves to help get through tough times. That means being financially conservative, hiring the right team and focus on innovation
  3. Committed — they are dedicated to business-building fundamentals
  4. Costumer focused — the products they deliver are driven by customer needs

It’s much harder to change a Unicorn into a Camel, than creating a Camel from the beginning. For those of you who are planning to create a startup now, this is an advantage you have over existing companies. Another advantage of bad times is that there’s less competition. Technology trains leave the station at regular intervals. If everyone else is cowering in a corner, you may have a whole car to yourself. Never let a good crisis go to waste.

Every journey starts with a single step. The best time to start a startup was on the previous recession when Airbnb, Uber, Spotify, Dropbox were founded. The second-best time is now!

At School of Entrepreneurship and Innovation (https://sein.gr), not only will you get the right mindset to start your entrepreneurial journey, but also a team of professionals such as Brand Storyteller, Creative Designer, Web Designer, Software Engineer, Product Manager, and Serial Entrepreneurs so you won’t have to walk the entrepreneurial path blindfolded.