The Report:
Is the World Getting Flatter?

2) Is the World Getting Flatter? New Report

STARTUP FOUNDERS DISCUSS ADAPTING TO NEW REMOTE REALITY

The COVID-19 pandemic has put global travel at a standstill. Gone are the days where founders can hop to SF or London for a weekend, attending busy conferences, meetings and roadshows. Essentially, founders must now build and manage global companies, locally.

We set to find out how founders are adapting their workforce, sales, product and fundraising strategy. Will the remote strengths they are developing effectively “flatten the world”, creating a long-term advantage?

Sneak peek
of selected highlights

Sales playbook

Due to COVID, startups are relying on new channels, geographies and reps

  • 35% Shift sales online
  • 30% Partner with distributors
  • 21% Change target geography
  • 14% Hire new sales reps

PRODUCT

The abrupt disappearance of markets forces startups to recreate their products

55% OF STARTUPS

CHANGED THEIR CORE PRODUCT

INVESTMENT

In order to stay relevant, startups are increasing their investment in product development, moving quickly to adapt their products to the changing market needs

  • 14% Significantly higher investment
  • 66% Slightly higher investment
  • 20% Lower investment

Remote work

The remote shift: A potential cost saver as startups cancel office space

44% OF STARTUPS

REDUCED OFFICE SPACE OR CANCELLED LEASES

CLIENT RELATIONSHIP

74% of founders report online customer service will become a main competitive differentiator

With today’s intensifying market competition, the growing necessity to create a direct relationship with clients is becoming increasingly clear. More than ever, startups must strive to better understand their clients’ needs, adapting their product and service to fit what clients are expecting. The strengthening of the company-client bond has been evolving for years, yet the trend has been greatly accelerated by the COVID pandemic. To retain increasingly savvy clients, startups are striving to perfect their level of online customer support, becoming more attuned to the needs of the clients and creating a long-term direct relationship.

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