The Covid-19 pandemic has knocked down any kind of forecast or projection for this 2020. While the big economies, as well as the emerging markets, collapse; many entrepreneurs have had to modify their plans in the immediate future. Now, all is not lost: in the following note we will tell you everything you need to know to start a business in times of pandemic.
At the beginning of the year, no one imagined reaching this point with this state of affairs. The rapid spread of the Coronavirus around the world it has placed health and the world economy on high alert.
The main markets worldwide are experiencing moments of contraction. While the countries of Latin America -made up mostly of emerging economies- must curb the social impact that this global crisis can generate.
In this context, starting a business in times of a pandemic may seem crazy, but we will see that this is not entirely true. Especially if we take into account some factors within this unique situation. After all, exceptional contexts require taking and evaluating exceptional measures. So, how to succeed in this very adverse 2020?
Tips to undertake in times of pandemic.
In the first place, it is always good to remember that the great rules of the economy have been severely disrupted in recent decades; thanks to the advent of the internet.
Today, many entrepreneurs have gone from unknown to billionaires thanks to finding an expanding market niche or making life easier for millions of people with a new online alternative. And the context of the pandemic only deepened that, so here is a golden rule if you plan to launch your venture in 2020: do not neglect the online market at all.
In this direction, according to different projections and statistics, online commerce has reached returns that were just projected for five years from now; achieving exponential growth in the first six months of 2020 around the world.
The reasons are several:
- Movement restriction due to quarantine.
- The comfort of shopping in your home without running the risk of exposing yourself to the coronavirus.
In addition, many sectors that were previously reluctant to use digital shopping media today have already lost all types of media. So that Social networks are excellent allies for commerce in the XXI century.
In this way, we can conclude that if your venture was strongly related to the digital world, or you could rely on its benefits when it came to reaching new customers and greater sales; The pandemic may not affect you too much and may even pose a growth scenario for you.
Along these lines, there are 3 keys that you should keep in mind:
- Various payment facilities.
- Fast and efficient attention on social networks and via email.
- Strong brand identity that stands out from the rest.
As you know, just as the Internet is a great ally for the business world, it has also democratized information and competition. So you should not rely on the facilities or practicality it offers; You must also keep yourself updated all the time so that you are not surpassed by other players in your same market.
If you manage to generate identity with your clients; you provide them with personalized and optimal attention; and you also make your brand recognizable; You will already have started the path to success.
Tips to undertake in times of pandemic outside the online world
Now, despite living in an increasingly digitized world, not all ventures have to do strictly with the web universe.
If that is your case, 2020 has surely disrupted your plans and the best thing you can do in this context is wait. Experts in finance and economics point out that this is a time to act cautiously and go towards what can generate the most performance; due to the great volatility shown by the main markets of the world.
In this sense, an interesting alternative is to delay the launch of your venture if you can do it and, in order not to lose the value of your financial assets, invest in some options that continue to work in a great way despite the pandemic.
An example is the investment in acquisition of cryptocurrencies. These digital assets have been one of the big winners of the Covid-19 pandemic in general, since it has been their first big test against a context of general crisis.
Although in the first weeks of quarantine in the United States it has been affected, it has managed to recover better and faster than other types of financial instruments.
In turn, another comparative advantage that cryptocurrencies currently show is that they are not affected by the banking and circulation restrictions that various nations and regional blocks have adopted.
By not depending on a central body, its fluidity was not altered, so its use as a means of payment has also grown greatly in these months of confinement. In this way, delaying the exit of your venture and preserving the value -and even increasing it- of your capital in cryptocurrencies is an alternative to surf the crisis.
Another option that can serve you in this exceptional context is a more traditional form of investment. Nowadays, binary options are the big favorites of investors of all the world; whether they are large funds or small savers.
In this direction, its great attraction is also its great risk: the times of coronavirus have increased the volatility of the world’s main financial assets. Oil, gold, raw materials, stocks, among many others; they suffer daily changes in their values according to the various measures that are being taken.
This scenario makes binary options the big star of the moment: by only being able to predict the rise or fall (hence its binary name) of a value, the returns are usually more than interesting in this 2020.
In addition, there is a wide variety of specialized sites that make everything easier, without the need to leave your house or hire expensive advisors. For those who want to take a little more risk and test their knowledge of the different markets, this alternative is ideal to grow the value of their savings while they wait for the general situation to be more favorable for their business.
Last conclusions on undertaking in times of pandemic.
As you may have seen, it is not a simple or predictable year; but that does not have to make it back a lost year. If your venture has a strong bond with the digital world -something that is increasingly recommended-, this pandemic context can be a great opportunity despite everything.
On the other hand, if your venture did not rely too much on the online universe, waiting and betting on the investment can take away the bitter taste of the delay by putting your economic assets to production.
And remember, if you are really interested in creating your own business, you can read our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
