In a recent article, Matthew Staff at ComputerWeekly interviewed Meniga’s CEO & co-founder Georg Ludviksson on what it’s like founding a company during a crisis and whether crisis can actually bring opportunity.
The list of challenges this pandemic has presented is endless. Many businesses have had to cut staff, reduce operational costs, or worst of all, close their doors. However, in a recent ComputerWeekly article, the message is that innovation does not have to stop amid a crisis.
Three of the Nordics’ most successful tech startup founders believe that with enough planning, motivation, support and market understanding, there are actually few better times to seize an opportunity than during a crisis.
Reaching out to Meniga’s CEO, Georg Ludvikson gives his perspective on how leveraging a crisis in fact, leads to the success of Meniga.
Meniga, which has grown to become a world leader in digital banking solutions, leapt on an opportunity in 2008 to turn the crisis into an opportunity on a personal level, and a safety net for many organisations in seek of partnership and help.
According to Ludvikson, “Overcoming a crisis requires you to identify key opportunities and reposition your offering fast, in order to make yourself relevant to the current environment,”.
The article speaks with 2 other, now successful CEOs Johnny Warstrom and Konrad Bergstrom on their rise back from the brink.
Watrstrom, CEO of Mentimeter shared his experiences of what it took to bounce back from some serious setbacks as his first year as CEO.
“It hurt to learn the hard way, of course, but this crisis marked the true start of the company we are running today. In 2015, we rebooted our organisation completely to rectify what we had failed to do at the start.
And over the past five years, we have grown our amazing team to almost 100 employees, with only two people leaving during this time.”
While Bergstrom, CEO of X-Shore, talked about his journey back to success after the 2008 financial crisis brought his previous distribution business crashing down.
“Starting a business is a one-way street — once you throw the dice, you are in the game. Going through professional crises has developed my ability to think ahead before taking that plunge.
I recommend any entrepreneur to make a really detailed plan from the start. Just having a plan B won’t do — you will need a plan A, B, C and D to succeed.”
Having each experienced their way through a crisis, the consensus among these 3 entrepreneurs is that crisis creates opportunities. Now is the time to innovate, discover the pain points that those around you are experiencing and act.
Read the full article here.
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