The coronavirus pandemic has altered the landscape of the business world in a multitude of ways. While some businesses have struggled to adapt to the emerging challenges, several opportunities have been created in different markets that companies have capitalized on. Generally, there has been a rise in the number of startups across different industries that aim to bring innovative solutions and products to better address the existing deficiencies in the market. Startups can be defined as a newly formed venture that aims to disrupt the industry by offering a creative product that addresses a marketplace need with a particular focus on doing this with rapid pace in order to achieve substantial growth in a relatively short period of time.
A startup is usually defined by its ability to consistently innovate to disrupt the norms and the existing trends of an industry through the creation of new solutions that are able to tackle problems more effectively in comparison to existing offerings. Therefore, it is quite common for startups to be referred to as ‘disruptors’ of their respective industries. Startups have caused quite a stir in different industries in recent years with certain entities achieving unprecedented success in a short time frame. To understand how this is possible, we need to be aware of the dynamics of what makes a startup successful.
First and foremost, timing is a crucial element of defining the success of a startup. Based on the existing market trends and...
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