Post Pandemic Entrepreneurship
The world has seen the Rise of Entrepreneurs and Entrepreneurship from small towns to big cities, from a small garage to a big industrial park, from ideas in a room developed into technologies that got adopted worldwide, all of them focused on capitalism, on bringing value to the shareholder first, on focusing on short terms profits and ignoring the long-term ramifications. Post pandemic there is a demand for more sustainable entrepreneurship, while profit is going to be important, sustainable value is also going to be demanded. Entrepreneurs will have to succeed not just economically but also ecologically and socially.
Dawson Gant a 22 year old serial entrepreneur who runs a managed services company that oversees 250+ online retailers, a luxury car dealership and a real estate company, shares interesting insights on succeeding as an entrepreneur. Working hard is good but working smarter is better and hiring the right people to do the work that they may be best at than you are, is being smart. Team plays a very important role in how the business sustains and succeeds.
Carlos M. Duarte, a marine ecologist conducts research on marine ecosystems globally. In this TedTalk he stresses on the importance of Sea Grass that is playing a huge role in climate change by sequestering carbon in the oceans. While they occupy only 1% of the Ocean floor, they sequester one third of the carbon deposited underwater.
Supply Chain Solutions
Dustin Burke an expert in manufacturing and supply chains at BCG, shares interesting insights in this TedTalk on how to fix broken supply chains. Supply chain disruptions have been seen most recently with the restrictions on movement of people and goods during the Covid-19 pandemic. Events like the Covid-19 pandemic, H1N1 Flu, natural disasters, war, geo-political instabilities are difficult and sometimes impossible to forecast and hence impossible to plan for by companies to have or maintain a buffer of essential raw materials, manufacturing capacities or finished goods as all of that adds to the cost in an already competitive landscape. Simple entrepreneurial solutions from cross industries or sectors can be the answer to fix supply chain issues.
Sharing risks (like in the Insurance industry) companies can agree to share the costs involved in planning for contingencies. Radical Transparency in knowing your supply chain backwards, your supplier and also his supplier. Automated Recommendations via technology to analyze data and notify key personnel to better plan.
California-based FarmSense an agtech startup is using machine learning algorithms to identify and track insects in real time, helping prevent crops from pest infestations.
South Africa based social enterprise Kusini Water brings clean and affordable drinking water to communities by using locally-sourced macadamia nutshells that create an activated carbon filtration process. A second filter of the nano-fibre membrane provides potable water with all contaminants larger than 0.01 microns in size removed. This process removes common pathogens, including bacteria and E-coli, pesticides, and chemicals such as chlorine.
Maritime clean tech company SailPlan has developed a platform that gathers real-time emissions data and provides advanced tools to ship owners. The information allows owners to optimise factors such as engine loading and maintenance, which can decrease marine vessel emissions. Apart from gathering real time data, it also provides analytics on current and past data, helping to predict future emissions.
PassiveLogic building management platform, Autonomy Studio, reduces energy expenditure by up to 30 per cent and the emissions there on.
Danish company Flow Loop has developed new technology a recirculating shower that reduces water use by 85 per cent and energy use by 75 per cent compared to a standard shower. The system doesn’t let all the water go in to the drain, it collects the warm water from the floor and supplies it back to the shower head after a filtration process. The system does not require bathroom refurbishing, enabling upgradation to existing set up.
Climate tech company Dayrize has developed a platform which can rapidly and cost-effectively evaluate the environmental impact of consumer products. It also has a marketplace where consumers can choose from a range of sustainable products.
Researchers from Russia’s National University of Science and Technology ‘MISIS’ (NUST MISIS) have developed new technology for converting discarded masks into batteries for use in household devices. Waste drug blister packs are used as a shell for the battery packs. Graphene is only material that is freshly produced for the battery pack.
Warren Buffets Wealth Creation Rules
Pay yourself first” by putting a portion of your funds away first.
Allocating only 20% of your income or investment revenue to “the three ‘f’s'”: food, fashion and fun
“If you buy things you don’t need, you will soon sell things you need,”
Avoid borrowing money to invest in securites.
Food for Thought
On schedule – setting timelines is a big motivator
In temporary residence – the Internet disrupts many business or industry workings
The trough of inefficiency – being lean or going big, a decision that needs careful planning