Nicole Junkermann learned about business from a young age. When she was a young girl, she was taken to meetings by her father. He gave her a glimpse into the businesses he worked with. It gave her an experience of the inspiring aspect of the business -- the flurry of passion, passion, and creativity; it also provided her with an understanding of the practical side of the business and the careful mix of the necessary ingredients to start, manage and maintain a successful business.
Many businesses will never be facing the same challenges they face today. The most recent Business Impact of Coronavirus Survey ( BICS) released in April revealed that as of April 5th, 2020 that 25 percent of U.K. businesses are not operating, and of those who continue in business, 37.5% said their turnover was significantly lower than the norm.
For many entrepreneurs, the issue isn't "what do the future will be like for my company or company?" but "will my company be able to survive the future?"
Through her investment company in the world, NJF Holdings, which was launched in 2012, nicole junkermann entrepreneur has made investments in later stage and early stages of companies in a variety of industries across Europe as well as in the U.S. and Asia. NJF Capital, the company's venture capital division, is now responsible for more than 30 companies. Although the company is now focused on the fintech, health tech, and deep tech fields, Nicole has worked across different specializations that have provided her with an understanding of the characteristics needed for a business to be successful and have long-term viability and be an industry leader.
Women-owned businesses are disproportionately underrepresented when it comes to venture capital. According to the current statistics, just 1% of VC funding currently goes to companies that women solely run. The small amount of representation could be reduced if women are not provided with the necessary support to navigate a tumultuous economic future.
Junkermann believes the responsibility for protecting this future lies mainly in organizations and industries that help and support their employees. "For many companies who want to defend themselves will be contingent on how the current crisis impacts their industry and how strong their business strategy is. Along with industry, education, and government organizations We must have the right ecosystem to encourage and help women-owned businesses at this moment]."
Female-led companies, in particular, have a long journey ahead to survival and growth in the years following 2020. For investors, in particular, this will be significant, with many investors like Junkermann forecasting an increase in the budgets:
"It will be challenging for startups to raise capital, particularly those in the early stages that have not yet established their respective fields. If there isn't a reduction in capital investment, we'll see changes in the way the risk-aversion of investors is more cautious. At the same time, the competition for most innovative entrepreneurs will be more competitive than ever before.
Get a solid and clear vision.
Developing an ambitious but specific strategy for your company is a must for you to succeed. LinkedIn's Imperative Initiative discovered that purpose-driven employers have employees who tend to be 54% more likely to stay loyal for the long haul and 30 percent more likely to perform well. Though recently criticized for his response to damage limitation in the face of the virus, Richard Branson is well-known as a highly admired large-scale employer because of his "Weconomy" concept. A glance through the comments on his social media profiles will make you aware of the high regard the "Virgin family" has for him.
Are you open to collaboration?
"Believing in your own vision while remaining open to diverse views is the key to the longevity of your business," Junkermann explains. "Early stage businesses need to be flexible and react quickly to the changing market and the environment. This is possible when you're open to learning from, and follow the suggestions of others who have been through the same experiences as you. My experiences as well as the knowledge I've gained make me able to assist and guide companies that are in the beginning stages of their development we invest in through difficult times."
However solid your business plan may feel or how strongly you believe you know what's most beneficial for your business, however, you're not immune to the whims of subjectivity. It's not a failure; none of us is.
Use it practically.
Junkermann believes that if the present situation can teach business owners something, it's to "focus on securing their balance sheet, especially their cash reserves and liquidity."
The future of the global economy is uncertain, and new businesses that are yet to establish a consistent, loyal customer will feel the most significant pinch right now.