the world in quarantine, every economy in the world has come to a standstill. Though it might not have been the best time to start a business venture before or during the pandemic, it could a glorious time to start right after.
Let's see what opportunities Covid-19 brings to young entrepreneurs.
Use this time to Set Up Your Plan
If you have been dreaming to be an entrepreneur for a long time, but have a job, then you didn't get any time. Now that your companies are down or that you are working from home, you get a lot of extra time. Use this time to set up and start working on your plan. If it was physical product define the plans and prototype; if it was online, start right away.
Think What the World Would Need - Immediate and Long-Term
When the world overcomes the pandemic, the economy will still be at its lowest. This could be the time where you fulfill the short-term needs of the people and the economy with your product.
Or you can research all the companies and rivals making a loss right now. Think about what the people will need when the economy stabilizes. An AI product, a product of luxury, or something that the competition cannot fulfill and that will be a product everyone needs.
Start Something Right Away
If you have to work on a physical product, it might not be the right time to start. Besides, in some countries, you are in lock down during the Covid- 19 pandemic. However, if your idea was to start something online - a website, a YouTube channel, a service - then you can start right away.
Also, if you were planning to develop an app or make the software for your device, then you can do that too. Just start working!
Move Your Business Online
This could be a marvelous time to move your business online. If you had a customer care center or a service, it might be easy to do that. If you owned a physical place like a restaurant or a gym, you can still do it by creating a website. Also, add some reviews and specialties of your business to attract people to the website right away. This will add value to your business once the pandemic is over.
Start Coaching about Your Expertise
If you excel at something because of your years of experience in a corporate or because of owning a business, you call sell your life story and some skills online. Everyone is learning something about someone during this pandemic. Getting traffic still won't be easy at first, but it will be a lot easier in this internet boosted times.
Learn a New Skill
As an entrepreneur, you can never stop learning. If you stop learning, you are out of the game. So, this could be the right time to learn something new. If your business is at a halt because of the pandemic, then gain skills and apply it to your business once the pandemic is over.
We are entrepreneurs and we know in every good, and bad time, there's an opportunity. If not to earn or ace upon, then it is an opportunity to learn. Use this time with your wits and make the most of it.