How to Start a Business During Pandemic?
Every aspiring entrepreneur sees challenges as opportunities. As small businesses across the country were shutting down amid the coronavirus disease, it just might be the right time to open one up. We recognize how crazy it sounds to start a business during an economic collapse, but the products and services that are in demand have shifted, and so has customers expectations and demands. So here are some tips to start a new business venture and perhaps seek out a new path for yourself:
1. Follow your passion
It is actually a wonderful thing to be passionate for what you are doing because it helps you keep going. Look for ways to harness your existing strengths and use them to turn your hobby or passion into a business.
2. Do your research
Research has always been a part of the key fundamental of setting up and smoothly running a business. Think about:
- Who will your customers be?
- How will you reach them and market to them?
- How will you find your supplies?
- What should your price point be in order to strike the balance between acquiring customers and making the necessary amount of profit?
- Will you be selling your product online, in person or both?
- How will you accept payments?
- How will you adhere to current COVID rules including safe working and social distancing?
3. Utilize Extra Cash
Get your finances in order. You need to be certain you are financially able to do this. If you are leaving employment to pursue this new venture, then you should probably have money saved up.
Also, you should try and clear any debts before you get started.
4. Determine What Type of Business to Start
In the current situation, you can easily start to market the following business ideas:
- Face masks
- Front porch hand sanitizers (wall units or stands designed for the home)
- Disinfecting/sanitation businesses
- Home care disinfectant
- Food delivery service or pasa-buy
- Provide online courses for specific skills
- Routine care home delivery services for elderly
- Disposable seat covers for public waiting/common areas
5. Monetize your talents and skills
If you are a person with bubbly and jovial personality, you can also be self-employed as a delivery guy for stores that are still functioning, you could put a smile on people’s faces as you deliver goods to them. You can also become a freelancer, if you can write well, or know how to edit videos, for example, you can sell your talents working as a freelancer for other people and companies in your free time.
6. Keep it simple
You may have grand ideas of numerous products or services you can provide, but it may be better to choose one or two of these and deliver them exceptionally well.
There’s actually no perfect time to start a business. What matters is how motivated you are, and if you have the perseverance to leverage any situation to make lemonade from lemons. Keep in mind that Robocash is always here for you to finance your business ideas.