The post-pandemic entrepreneur

The past year and a half has been historic for so many lives around the globe. Quickly adapting to alternative ways of life, people have concurrently faced moments of insurmountable grief, realities of economic losses and feelings of uncertainty fortified by newly precarious futures—all because of the Covid-19 Pandemic. 

As Dolly Parton proclaims:

“There's a better life, and you dream about it, don't you?”

We’ve all contemplated similar existential thoughts: what has the pandemic taught me? Post-pandemic, what do I want for my future and my family’s future?

As things start to turn a corner and the world begins to resume its once “normal” day-to-day activities, we must remember that continual change due to the pandemic is still inevitable. That’s not to say that these continual changes will be negative—change always comes with a silver lining. 

The silver lining of the ongoing Covid-19 Pandemic, for countless working individuals, has been the opportunity to take the time to reflect. Worldwide lockdowns, remote working transitions, position layoffs and reduction in operational hours have taught working individuals what it means to work, what it means to not and what it means to foster a balanced work-life lifestyle.  

Many people have been able to reflect on their professional aspirations to realize that they’re unhappy with their career life. The Mental Health Index Report from November 2020 concluded that 1 in 4 Canadians have considered changing their careers because of the Covid-19 Pandemic. 

With greater reason now than before, people crave a redirection for their careers and habitual routines. People see that there’s an imminent opportunity to veer away from the corporate world by way of carving out their own professional paths. 

Dreaming about a better life

Due to present-day economic conditions, many individuals tied to the current working generations are undervalued or overworked. 

The millennial generation is a highly educated group of people who “went to college in record numbers...sought stable, meaningful jobs and stable, meaningful careers…” Despite aspirational beginnings, “millennials entered the workforce during the worst downturn since the Great Depression,” forcing many to pivot their skills to access simple employment. Likewise, Stephanie Neal expresses that “data reveals Gen X to be the ‘leapfrog’ generation, overlooked for promotions at higher rates than their counterparts in other generations.” At some point in their careers, many of these working individuals fell into corporate positions or general labourer roles that didn’t match their education field, true interests or genuine career aspirations.

Jennifer Liu of CNBC articulates that in the U.S, “of the 26% of workers planning to leave their employers after the pandemic, 80% are doing so because they’re concerned about their career advancement; meanwhile, 72% say the pandemic caused them to rethink their skill sets.”   

Working people want to be able to live life comfortably and build professional skills congruently. 

 “Workers who want to quit overwhelmingly say they’re looking for a new job with more flexibility.” 

The post-war “ideal” of the 9-5 corporate lifestyle is defunct—more often than not, salary-based individuals are overworked, exerting energy into the companies they work for without significant reward. Working individuals want to enjoy the world without being tied down to restrictive schedules and labour conditions that feel stagnant and unpromising. 

So, how does one find a better life and a career that allows them flexibility as well as advancement?

The  post-pandemic entrepreneur

In an article for Forbes Magazine, Yusuf Berkan Altun expresses that “the global pandemic has brought about a true boom in startups.” Altun continues, articulating that this increase in new business developments, “is being attributed to workers who were laid off and started their own businesses.”

At Village Wellth, we greatly value entrepreneurial drive and the positives that coincide with entrepreneurship—the benefits of self-employment, opportunities for growth and flexibility of lifestyle, to name a few. 

We’ve come to realize that most people classify entrepreneurs as people who have started their own business (or company) from scratch. Village Wellth wants to debunk this myth. 

Although people are eager for professional change, the economic wellness of this post-pandemic era is dicey. Starting a business is a risky endeavour at the best of times. 

Instead, Village Wellth champions the notion that the best path to successful entrepreneurship and business ownership, especially post-pandemic, is to purchase a pre-existing small business over starting a business. 

With information from an interview with business broker Pino Bacinello, BCBusiness journalist Nick Rockwell claims that “besides creating a buyer’s market, the pandemic could see companies that quickly reinvent themselves, maintain or even boost their value…” 

Through our research, Village Wellth can substantiate that entrepreneurship through acquisition is an incredibly fruitful path for those working individuals who are looking to reinvent their careers, boost their financial stability and gain flexibility through alternative working schedules. 

In acquiring a business, entrepreneurs gather the chance to craft their own professional paths and future. Business acquirers do so by...

• accessing financial freedom to grow personal wealth as well as the wealth of their business. 

• harbouring the ability to transition out of undesirable corporate office or labour settings. 

• deciding their career path and professional position (eg. becoming their own boss, managing a team of employees or acting as a CEO). 

• finding a balance between life and work with the ability to set their own schedules and allot previously restricted time to growing their business. 

• adapting their workflow and commitments, leaving room for a balance between work and life (eg. prioritize family life, vacations and the activities that fulfill them). 

• finding the passion to put energy into an asset/company that is theirs as opposed to working for large corporate companies that often undervalue their commitments. 

• developing the professional skills that they want to improve on or gain, rather than focusing on the skills that their corporate job description required them to have. 

• guiding the cultural conditions of their workplace. Creating a workplace that suits their emotional wellbeing, needs and aspirations as an individual. 

With all this information in mind, it’s crucial to realize that acquisition itself is not an overnight process. Even so, once those working individuals, who have transitioned into business buyers, settle into new ownership, they’ll quickly realize the wholesome difference between working for someone else and working for themselves. What’s more, is that they’ll see the value in working to grow their own business instead of the businesses of their corporate pasts. 

After a short, yet wacky era of uncertainty caused by the Covid-19 Pandemic, the time to pursue positive change has come. For many working individuals, this time has been a vessel for reflection—it’s caused us to reframe our aspirations and goals. 

Are you ready to move forward? Now is the time to find and grab onto the career that will fulfill your needs—the one that complements your lifelong objectives and gives you the flexibility to appreciate your everyday life.