CORONA TIME WILL SHOW US THAT THE STRONGER SURVIVE.

CORONA TIME WILL SHOW US THAT THE STRONGER SURVIVE. STRONGER IN PRODUCT, FAST ADAPTATION AND RESHAPING. THOSE WILL SEE CORONA-TIME AS BIG BUSINESS OPPORTUNITY.

Ppl are asking me; how did you come up with WLOUNGE concept? The answer is always the same. We know the market; we are part of it. When you are part of the market you’re well involved in significant movements and activities, this is the best way to bring the best product/ solution to the market. You know best what is needed. Yes, Maybe I’m a former Tel Avivian, which obviously comes with creativity and solution-oriented as this is the reality for most of the Israelis entrepreneurs. For the ppl that working closely with me, it’s obvious that the German business culture is something I cherish and adapted (with love) and see it BEST COMBINATION. Being very creative and fast thinker is working very well with a well-organized system and fantastic local industry.

WHY I CHOSE TO WRITE THIS TODAY?

These days I find myself almost 14 hours a day on the phone or video calls. Before Corona, when I’m at the office I am much alert for time and schedule and there is an ending point for the office day, (sometimes they need to kick me out of the office at the evening, I admit) but now, these days #WFH days, at my home office, time runs differently .. faster, with no ending point. Finding myself on the phone at 21:00 has become very common, partner's meetings, among other things, community talks about marketing, value creation, and impact. Lots of these calls are also mentorship and support, requests for coffee became calls, startups in every level of growth, asking questions about where the market goes? What can you do with the fact that many VCs are pulling-out term sheets these days? How can you re-shape? How can you adapt better to the situation? How the public sector reacting? This is also happening due to the fact that in WLOUNGE and MAGDAGROUP this corona time brought us also many new opportunities.

WHY I’M CALLING IT OPPORTUNITIES?

Be an entrepreneur and investor is being an optimist.  

YOU ARE EATHER A LEADER OR FOLLOWER OR NOTHING! leaders are fast adapters for complicated situations, the reality is changing, and they are changing with it. 

As the German tech ecosystem, we will need to align with this new reality as soon as we can, startups need to reshape and only the strong will survive. Strong is not always refer to the company’s financial situation but new service, new audience or serving current customers with new products/new solutions to keep them close until this WAVE will pass. Good leaders are developing themselves while developing their company. Followers are here to complain and think they had bad luck.

I see many leaders every day these days, globally and locally.

Tel Aviv is going through a hard time now, you can see more merging between startups to go bigger and better together, more local activities from the people of the ecosystem for keeping it alive and strong. From New York, I see not a good sign in general but while talking with people there .. they are fighters and will survive. As for Germany and Berlin, lots of attention is going to the #EuropeanCommission and I like it a lot. Since I started to be active at the EIC I see more and more that not enough is coming to the local ecosystem also because that the local ecosystem is not applying enough, the #EIC has great programs and different focus that I would like to encourage more startups and WOMEN who lead startups to apply. Would be totally exciting to be in Brussels and to evaluate Berliner startup, for more info and applications

From what I’ve seen they are great people there who are genuinely there to support and see the EU tech ecosystem growing more success stories (write me if you need more info). In Berlin, I see companies that are re-shaping and re-inventing, the big ones and smaller ones that understood that if they won’t adapt to the new reality, they will be closed very fast. I encourage them to apply.

KEEP THE COMMUNICATION ON!

This is my biggest goal, That's why we try to make everything as normal as possible, on the network side we can’t avoid what we see from the startup's side and from the investment side, M&A stopped, lots of VCs have stopped... I don’t like it and this is not the right reaction to the situation. I believe. These days we need to show we are a sustainable ecosystem so investors will be much attracted to the market now and later on as well. The government is doing a lot to bring it to be an attractive hub and by stop investing and supporting from the LPs side, we will see the opposite. Not everyone stopped, I see and hear about new investments during Corona time! These are heroes, investors that have the bigger picture in their mindset... even if you’re not investing, talk with startups, mentor them, let them pitch until the right moment will come! Keep the communication on!  

These days Investors are having a significant role - as LPs, shareholders, experienced entrepreneurs they need advise young startups or even growth startups that never experienced crisis time, currently facing huge management challenges, BTW this is also something we see inside corporations. 

I do believe that after this crisis will over, there will be a quick exit from the crisis, I feel like all are waiting to expose. My tip is - don’t wait! if you’re smart, take these days for learning and gaining knowledge and expand your network, we are available more than ever, approach ppl.

I am doing this as well. Things that I didn’t have the time for in my usual daily routine. like MEDIA. I’ve made several interviews that I know are important for the company but never had extra time for this… these days I managed to add them to my schedule. Learning how much it's important, also fun (Thanks @janine Tychsen for encouraging me to do it more often) So, here are a few:

Thank you @Florian Schulze from 99startups.de

Thank you @Dr. Maria Offacker from Magic Brain Kicks.

Thank you @Lisa Ksienrzyk from Gründerszene for long time ago article that I never had the opportunity to share, I wish I could do it before. I received so many great messages after this one.

The willingness to share and to exchange is the core of @WLOUNGE.de ecosystem and for everything I mentioned so far,

we built WLOUNGE GERMANY’S NEXT ROLE MODEL format.

Sign in here: https://www.wlounge.de/activities

For more info: https://www.wlounge.de/gnrm20

Join the daily session (direct link) : https://smart.newrow.com/room/?wsk-269

Thank you, @Natascha Zeljko, F10 for this interview about WLOUNGE #GNRM20:

SOME TIPS FOR ENTREPRENEURS THESE DAYS:

Founder who sets up a company and product developer needs to think carefully about how much the product is needed for the market(s), what is the value in their customer’s eyes, whether it will be the first or last thing they will give up, how much her/his business model creates a significant impact, understand her/his weaknesses very fundamentally. There are companies that, under normal conditions, are empires, but cannot survive in crisis conditions. Every entrepreneur and every investor will have to think about what situation their companies can come up with, the scenario with which companies are dealing with in the current crisis, and whether they can survive such a thing.

Think ahead for the long run and not the short run.

Think in 'half a year plan', or 'year plan' ahead. You can’t think daily or monthly in this #Corona time when all locked down and postponing. Check your cash-flow ahead and according to it plan ahead, if it will be good, keep the company at least stable until it will over (again .. think in 6 months ahead gap) if it doesn’t look good and you see how you’re losing your step in the market... sit down and reshape the model and the product as the world is not coming back as same as it was before and you need to adapt to keep yourself strong and significant in your market. Check your network and data of customers and talk with them to build new solutions for new needs. IT IS GOING TO STAY.

Act quickly

If the situation is that you do not have air, without hesitation, you must take immediate action, financially and also creatively invent your relevance to your market, be honest about it and if need change - think outside the box! there is no company in the world that can supply ONLY one product/ solution.

Raise capital

If the company has the ability to get money, such as realizing a loan, grants, support that is due or making another financial move that increases its resources – do it! And do it fast!

We are hearing that VCs are pulling out or holding transactions. Move on with those who understand your product and need, investors are active these days. Maybe not all of them but those who are..reach out, they have less applications and you just need to be the right one for them.

One word here to the VCs and funds here: don’t stop your communication with potential portfolio as well, this time is crucial for startups, you can miss good opportunities if they will fall during this crisis and we didn’t support them on time.

Bottom line: don’t feel alone. We are all with you.

Our local and global ecosystem is full of smart and creative ppl and I can see us going through this and become sharp than ever! Stronger than ever! This is why we build WLOUNGE for and Germany’s next role model digital platform.

Looking forward to seeing you with us on WLOUNGE #GNRM20. Daily, starting on13.4.2020. Join the daily WLOUNGE #GNRM20 session (direct link) : https://smart.newrow.com/room/?wsk-269

Stay Safe and take care of your business and yourself.

Mali.

10.4.2020 writing from my home office. Berlin.