{"id":2327,"date":"2020-03-30T19:43:33","date_gmt":"2020-03-30T14:13:33","guid":{"rendered":"https:\/\/www.hestabit.com\/blog\/?p=2327"},"modified":"2021-10-14T13:21:38","modified_gmt":"2021-10-14T07:51:38","slug":"a-product-owners-guide-to-make-the-best-of-lockdown","status":"publish","type":"post","link":"https:\/\/www.hestabit.com\/blog\/a-product-owners-guide-to-make-the-best-of-lockdown\/","title":{"rendered":"A Product Owner\u2019s Guide to Make the Best of the Lockdown"},"content":{"rendered":"

You are quarantined, the market is not.<\/strong><\/p>\n

The CoronaVirus has hit the world economy and the market, but this is temporary. Your future is not. Entrepreneurs are struggling to keep their projects up and running and some are struggling to launch their products in an audienceless market.<\/span><\/p>\n

This can better be elaborated with an example,\u00a0<\/span><\/p>\n

For a company like Uber, this lockdown may result in a loss of millions of dollars, since most of the people are working from home.\u00a0<\/span><\/p>\n

The strange thing about a market is how it can change anytime. You could bloom one minute and collapse the other.\u00a0<\/span><\/p>\n

An advantage of this pandemic is that every business owner<\/a> is facing the same issue and dealing with it their way.<\/span><\/p>\n

Some are planning on doing nothing during the lockdown, while some are working even harder to flourish the market with their innovation once it is back to normal. If we look at the brighter side of the lockdown, we\u2019ll notice that we have plenty of time on our plate, to prepare ourselves for the right moment.<\/span><\/p>\n

I remember reading about how WhatsApp was founded, when the world was tackling recession. While many companies completely lost to the outer forces, companies like WhatsApp, Pinterest, Airbnb, Uber, and Slack, stood out and set their foot in the market with only success in their minds.<\/span><\/p>\n

How were they different from others? How did they manage to outshine when everyone was struggling?\u00a0<\/span><\/p>\n

If you know the answers to these questions, you know their secret to success.\u00a0\u00a0<\/span><\/p>\n

If you have doubts about whether after this quarantine, your product will still be standing firm in the market or not? Or if you are unsure about, if your idea will ever become an innovation. Then this article is for you.\u00a0<\/span><\/p>\n

We have broken down everything that you need to know, in two parts.\u00a0<\/span><\/p>\n

Firstly we have tried to focus on products that already have a good user base, that might have thousands or even millions of users, but it\u2019s functioning is hindered by the current market situation.<\/span><\/p>\n

Second, we have focused on the products that are still in the idea phase and can rock the market when launched.<\/span><\/p>\n

Here is how you can make the best of the lockdown:<\/strong><\/p>\n

For those entrepreneurs who have their products up and running, with a good user base, this is what you can do during this lockdown:<\/strong><\/p>\n

This is the perfect opportunity for you to get ahead of the competition, while your competitors are still skeptical about whether they should invest their time and efforts now or not, you have already achieved clarity.<\/span><\/p>\n

Hard times bring out the best in you.<\/span><\/p>\n

\"Hestabit\"<\/p>\n

Airbnb is another such startup that originated because the CEO couldn\u2019t afford rent.<\/span><\/p>\n

The co-founders all lived together in an apartment when their landlord increased the rent, one of them decided to move out, and two of them stayed.\u00a0<\/span><\/p>\n

Examining the problems their friend faced while he searched for a hotel as they were all occupied, they came up with the idea of putting that one empty room on a per-day rental basis, they provided their guests with an air bed and breakfast. That\u2019s what Airbnb stands for \u2018air bed and breakfast\u2019<\/span><\/p>\n

You are still one step ahead of where they started.<\/span><\/p>\n

Use this to your benefit.<\/span><\/p>\n

Somethings that you can do, to make your product even better:<\/strong><\/p>\n