Firstly, this post is not about taking advantage of the crisis. Instead, it is about assessing the way that COVID-19 has changed the world and how a savvy entrepreneur can find a way to fill a need in these new surroundings. Finding business opportunities takes creativity but it is possible.
Start now and look long-term
For many, the COVID-19 outbreak has been disasterous. Businesses and entrepreneurs are left trying to figure out how to make money amidst a lockdown. Several are turning to part-time jobs to supplement income, such as freelance writing and delivering food.
As helpful as these options are, the pandemic doesn’t mean that you must immediately give up running a profitable and successful company. Yes, it is doable, even during the biggest health crisis since Spanish influenza.
The trick is to pivot the processes that you provide so you have a product or service that is in demand. You want to be evergreen so that customers continue to shop with you throughout even the toughest times.
Millions of bosses are scrambling to reinvent their businesses, and you should, too. However, rather than panicking and clutching at straws, you can use these four business ideas. The following are excellent opportunities in a crisis.
Finding business opportunities in security
Security is always a big deal, and it hasn’t gone away because everyone is staying at home in self-isolation. If anything, the need to feel safe is heightened at home. Why?
It’s because transitioning from an office-based business to a home-based one can leave you vulnerable to cyberattacks. Hackers know that there are gaps in your company’s defenses and will exploit them for their benefit.
The great thing about the internet is that you don’t have to be an expert to voice your opinion. Instead, you can highlight your value to customers and clients via detailed stats. Showing how you have prevented data leaks will give you credibility that should make your services lucrative.
With Microsoft Teams and a mobile device, you can conduct paid seminars and lectures from your home. You’ll adhere to lockdown rules and continue to help people when the economy starts to improve.
One of the worst-hit demographics is children. No, I’m not talking about the kids being overly impacted by the virus and getting sick. Instead, children’s lifestyles and routines are up in the air because of school closures. High school students should be studying for tests and applying for colleges, yet most are sitting at home unsure of what the future holds.
Parents want their children to learn, especially the youngsters whose minds are like sponges. This delay in returning to the classroom could impact their future. Opening a school may not appear possible, yet it’s straightforward with the correct tools. A curriculum is a fantastic place to start, as is teaching materials. Lots of them are available online for free.
A lawyer is worth speaking with, too. Setting up an official school involves lots of red tape, and you could be shut down if you don’t cover every base. It will take planning, but think of the number of young minds you could impact in a positive way.
Quarantine is boring. You spend all day at home and only leave for an hour or two to exercise. Passing the time isn’t easy, especially when it’s been almost two months and you’ve played all the video games in the house! If you’re bored, then there’s a good chance that your customer base is the same.
If you’ve already got a website that gets regular traffic, then you can reinvent it as a platform to sell entertainment. Fill the need with positive ways to pass the time during this time when many people are restless at home.
A basic example is listing old board games. Also, offer video games and the matching hardware and accessories for them.
Or, you can be a quiz master. Yes, people pay for quizzes because it lets them and their loved ones interact virtually. Doing so can fill a gaping hole many people feel in their social lives right now. BrewDog, a bar, has transitioned into hosting remote pubs for groups where the barman serves beer and plays music.
Put company vehicles to good use
It’s a shame that a fleet of cars and trucks are doing nothing other collecting dust right now. The rental car business is losing money because they aren’t in operation. If only you could put them to good use! You can, it just takes a bit of creativity.
Although state lockdowns have banned most activities, some aren’t, such as moving home. With this in mind, you can ask your drivers to perform removal services. Students stuck on campus will be happy to hire your moving vans to get back home, as will those who have had to leave their student accommodation. Offer a student discount during this difficult time.
Another option is to provide a delivery solution. Finding business opportunities involves locating a food company that doesn’t have a takeout service and form a partnership with them. They cook, you deliver, and everybody has the opportunity to make money, all while providing yummy dishes to those who are stuck at home.
COVID-19 is a crisis, but there are silver linings for savvy entrepreneurs. Have you found any yet?