The unexpected appearance of the coronavirus on the world stage shocked the world. The global economy is currently on one of the lowest economic recessions in the last few decades. Governments across the globe are scrambling to keep public health and to keep their respective economies afloat. But the damage that this virus already wrecked cannot be denied – it can be seen in the mass job losses, frozen investments, and reduction in global trade.
This whole situation has drastically shifted the economic market – not just because of the loss of jobs, but because of the emergence of new spending habits and new opportunities.
This article will discuss 5 potential ways to start a business during this pandemic by taking advantage of new, adaptive trends to supplement your income amidst this crisis.
The content making industry is one of the most unaffected sectors in this pandemic. The impact on the freelance web writing industry is particularly minimal. After all, freelancers generally don’t have to go out of their houses to do their jobs, and the whole transaction, from delegating workloads to payment, can be done online.
Furthermore, with the coronavirus pandemic forcing people into their homes – and consequently, towards their devices and the internet, businesses understand the value of content now more than ever.
If you decide that you want to become a freelance writer, you can then pick your niche and pitch to clients. Once you have your first client (or clients!), always communicate, meet deadlines, and deliver top-notch work. From here, you can build up your price as you become more established and contract higher-paying clients.
If you’re not one for writing, don’t worry – you can always start a podcast! Statistics have shown that 55% of the US’s entire population, about 155 million people, has listened to a podcast as of this year – with the numbers sure to rise as the trend sweeps the globe in the next 3 to 5 years. With these figures, you can see that the podcasting industry is not saturated at all.
Podcasting is one of the easiest and cheapest business ventures that you can begin. All you need are a few gadgets and a hosting platform – you can begin your podcasting career in less than a hundred dollars!
Once you’ve decided to begin podcasting, you can then focus on increasing your audience by publishing regularly and consistently and getting feedback to improve your work.
After building your audience base enough to begin monetizing, you can then get sponsors, promote affiliate offers, and create a premium, paid-subscription version of your content.
The educational system was already shifting online, even before the pandemic forced the world to follow suit. Online education, which was once treated merely as complementary to face-to-face traditional teaching, is now the primary education method in the past few months.
This gives rise to a new economy of online courses selling. The main idea is that if you have a skill that you think will be valuable to people, you can sell it! Help people achieve success in their chosen pursuit by offering hacks, shortcuts, and tips. Selling your online courses is great because there’s a niche for everything – online courses that we’ve seen range in topic from beating insomnia to growing vegetables in your home.
You don’t need to have a four-year degree to get started. Customers are looking for relatable people who are just several steps ahead to guide them. All you need is the confidence, the knowledge, and the desire to help. If this sounds like you, then what are you waiting for?
YouTube currently holds about 44% of all internet users. It is one of the largest and most popular video platforms around the world. On YouTube, you can find every topic conceivable on earth – and the best part is, you can be a creator too.
You can create tutorials on any topic you can think of, from cooking your favorite recipes to drawing to freelancing to SEO tips and tricks. You can become a game streamer and a vlogger, or you can find a content niche that you want to dominate and plant your flag on.
All you need to do to get started is to have a camera, a modicum of video editing skills, and your own YouTube channel. Building up your viewer base is where the grind is, requiring a lot of time and dedication to the craft. You can do this by consistently improving your content and publishing regularly and consistently. Once you have a respectable viewer count, monetizing will follow.
Because of the sudden closure of many malls and restaurants, people are now looking for other methods to satisfy their hunger for quality food. If cooking is your passion – or if you know someone passionate about it – then maybe this quarantine-friendly business is for you.
You can create home-cooked meals or baked delicacies from the comfort of your own home and offer local, house-to-house deliveries.
You can begin contacting your friends or associates through email or social media and notify them about your business, and from there, you can let the word spread as your business grows. Make sure you deliver quality, delicious items that will completely satisfy your customers so that your business will become profitable.
The pandemic is a great challenge not just to national economies but also to individual lives. Most people who have been affected have lost their jobs and are left worrying about their financial future.
However, in every problem lies an opportunity. In this article, we suggested cheap and easy businesses that require little to no initial investment. That said, it’s still very important to persevere and stick to it. Grit is essential in any venture, and this is no different.
If you are patient, smart-working, and have a learning spirit, you have all you need to begin a lucrative business opportunity and help pay for necessities.