Need of the hour : Use the Crisis

[fiulpro]

Hello everyone I am quite aware that we all are going through a tough time. With the third wave of the virus , the lockdown have caused chaos worldwide. I do think that the only possible solution we have is to: Use the Crisis in our favour. Think about all the things that can be done to start a new business, earn from home. As for me I believe we have to rely less on the government but more importantly start small businesses, this is the only way that we will be able to go though the pandemic.

-start small businesses
 Example: Food service , tutoring kids through zoom etc..
-go with small investments and look for what people are looking, if you are living in an area with students living in hostel , 24*7 food service is going to get you like 100-200$ per 2-3 days ( Tried and tested )
-only apply for those jobs which do have favourable conditions for the workers ex- free insurance etc.

What is your business idea ? During this pandemic? You think it would work ? Why/why not ? Let's share !

[Coyster]

Starting a business is not as easy at it seems, I'm sure everyone will like to have their own business and be somewhat self employed, but there are many factors hindering the growth of small scale businesses and by extension, microeconomics. Capital is one of those factors, many people do not really have the capital to start the business of their choice, and the government are not willing to support small scale businesses with loans, it's easy to tell people to start a business, but without capital, starting a business is not possible.

Competition is another thing when considering starting a business, honestly if you look at some of the options people have when considering setting up their own business, there are more than enough businesses in that line already and you may be knocked out of business very fast as a result of stiff competition. Mind you that this pandemic is also not a good time to even consider starting a business, there are too many uncertainties with lockdowns and the rest, plus people mostly depend on home delivery for most of their needs. What I think could work this period is having a skill that people actually need, imo selling a skill looks pretty profitable at this point, especially one you can reach your customers without meeting them in-person.

[gantez]

Capital is one of those factors, many people do not really have the capital to start the business of their choice, and the government are not willing to support small scale businesses with loans,

This is real life challenge with businesses. The government doesn't really do a duty on this part, they make promises of supporting small and big businesses but never do so. Many entrepreneur are left to get help from families if they want to survive doing business.

[Stedsm]

Wait! $100-$200 in 2-3 days? I believe that when you're starting a business, you should just not think of profiting from it right from the start but you need to figure out how to establish it during these days because it's not that easy at all now that Corona has hit each business and even common man badly. If you think of starting up a food business venture, people may not come because -
1. You are new in the market
2. People don't have money to come and eat at your place like restaurant
3. They don't want to come to your place due to some reason

The money factor is the significant one that comes into play and it will definitely stop anyone starting a business to do it smoothly because -
1. Either you don't have money to keep it running longer without the tension about profits for a few months or even a year or two

OR

2. You don't get enough customers daily to keep it running if you don't have enough money already.

So, research comes into play here. It's better to research in the market about your genre you are going to start up, and then get on the ground with your stuff.

[ChrisPop]

There is opportunity for various businesses indeed, but one needs to have the time and resources to start one. By resources I refer to both financial and mental resources. For a business to have a higher chance to thrive in any kind of environment, its manager ideally has to be experienced. Risking money in times like this is quite scarry, especially for someone who lives paycheck to paycheck and who just lost his job.

You also need an accountant, register the company, fill tax reports and you have to comply with the regulations. Running a legal business is no piece of cake.

[FACE 2 FACE]

Despite the fact that some of the entrepreneurs believe that the economic crisis caused by the pandemic is a time of great opportunities, for the vast majority of other people this is the time when they will lose all available earning opportunities.

Only a few will become millionaires during the crisis, the rest will finally go bankrupt.

[AmoreJaz]

There is opportunity for various businesses indeed, but one needs to have the time and resources to start one. By resources I refer to both financial and mental resources. For a business to have a higher chance to thrive in any kind of environment, its manager ideally has to be experienced. Risking money in times like this is quite scarry, especially for someone who lives paycheck to paycheck and who just lost his job.

You also need an accountant, register the company, fill tax reports and you have to comply with the regulations. Running a legal business is no piece of cake.

i understand about your doubt about opening a business. this is really not for all people out there. one can make a business for very small amount of funds and strategize how he can grow it. if you cant have a business, why not practice what you are capable of? web designers dont need license, online freelance jobs usually dont require one. just make use of your talents or skills.
if not, you can sell in online platforms. your items that need to be discard but still be useful to others.
or if you have your own garden, you can tend it so you can grow your own food, at least lessen from your expenses.
actually, there's a lot more. just think how you can earn extra income to augment your needs. it depends on your disposition in life.

[verita1]

You're right. My family and I have already thought that we have to get ahead in the middle of this pandemic by doing work from home.
Just like you said: Earn from home. We are selling food in our neighborhood at low prices in order to get away from speculation. In the midst of this crisis we have realized that some merchants are speculating by raising prices especially food and cleaning supplies. A neighbor who is a teacher is teaching at her home to the neighborhood children.
My mom and I have learned to make lollipops to get some of our Fiat currency to buy some food. My mother feels satisfied because she feels useful and also the most important thing is that we sell the lollipops at a low price and we give the children the joy of eating sweets.
We have aspirations to learn about making chocolates to include more items for sale.
With regard to government aid, we only receive 20% of the money we need each month so we decided to do this work from home.

[harizen]

What is your business idea ? During this pandemic? You think it would work ? Why/why not ? Let's share !

Good examples you have there.

Actually, what would be the best business ideas will be the product up to our own view since we have different financial status and we know the situation in our area more than others. Try to think about what business survives during a pandemic than from there, try to think outside the box.

The majority of my friends turned into online sellers. Not much profit but at least they have side incomes since of them got. Some of them become unemployed and until now, a limited workforce is still implemented in their respective companies. Products varied from basic foods, goods, liquor, plants, fermented foods, groceries, deliveries, and many more.

In my case, we have an extra lot that we turned into a parking area for 4 vehicles. The demand for parking is hype here so a good side income. Not bad while we still have our respective work from home.

Yes, it's not easy to do business, small or big, but what are the option left to those people that got heavily affected during the pandemic? Not all are fortunate compare to us here that at least still living in a good standard even during the pandemic. There's no time to be negative and face the reality.

[Yatsan]

The pandemic have gone worse as expected on countries that have early release the tight implementation of health protocols and opened up their economy right after their country have recorded a zero positive case of covid-19. The third wave of lockdown have just shown that it have been underestimated that things can still go wrong right after the assumed recovery from the virus.

It is easy to say but hard to be executed to use the crisis in our favor for only those privileged people can use this crisis and turn into a favorable one because they have the capacity to open up even small businesses to still support their daily necessities. But if we are going to talk about less fortunate individuals, it seems like it will be really hard for them to fix things out and to think this crisis to be favorable for them. But I certainly agree that instead of thinking of all the negativities that this pandemic have brought, may we at least divert our attentions and turn this tragic situation into somehow favorable one as stated by the OP. Although it is hard, but it is the least we can do as for the now.

[Jating]

I sell everything that I can get my hands on:

- laptop or computer table, those foldable one
- face mask/face shield - I would admit that I made a killing early, up until July-August, I directly import from China. But Aug onwards, there's a lot of competition so the price are going down.
- hotel inspired water based scent - how do I think of this? most hotels are closed, so did try to contract supplier for this and they are willing since their business is dead. So I made a killing as well, until those hotel legal offices contact me and most of my resellers because I'm using their name. LOL. So I have to rebrand and reinvent myself again.
- printing - since schools have started, I invested on a printer and used it for my printing business. Specially that online schooling requires students to print some modules, so it is thriving as well.

And many more, Lol, you just have to look at your environment and be imaginative in order to survived in this crisis. Or if I hear some of my customers looking for something, then I invest my time and money looking for them. I've delivered as far as New Zealand.  

[Savemore]

Opportunities can be seen through mind and not eyes, and we should train our mind especially today where there are a lot of opportunities despite of having pandemic. I think there is a limiting beliefs in our society and it is the reason why a lot of people are afraid to build their own business and brand. Many people have employee mindset where they want security than freedom, those opportunities that they keep wasting are the reason why they life is still like before. They are afraid to take risks and not knowing that what they are currently is more risky. This crisis shouls be the trigger for us to have a millionaire mindset wherein we can make money out of nothing. Focus on training our mind and for sure we will come up good and crazy ideas that can give us huge rewards.

I actually have alot of business in my mind because I trained it in very long period of time. Like what happened in this week where I saw opportunities when it comes to book, there are a lot of books that I cannot see in bookstore and it gives me an idea to become online seller of those rare books that habe high demand in the internet. I also have an idea to start a clothing brand because I saw opportunities in my country and it is also one of the necessities we humans. Opportunities are in everywhere, ae can grab it and see it if we will train our greatest asset which is our mind.

[Darker45]

Right now, I don't have a business idea which coincides with the circumstances of COVID-19. There is no urgent reason for me to do it. But, yes, I agree, people should start looking at the current situation as something we cannot avoid and therefore should instead take advantage of. It is not easy. It is even next to impossible to some who are simply minimum wage earners. But that's what it is, so we need to try to think out of the box, especially because the governments in many countries are inutile.  

[goaldigger]

Online business is the trend in my country right now like almost everything you'll see on their social account is the product they are selling and some of my friend already made a huge profit because of this. I do personally sell some staff online and yes, and this one helps me to recover from this crisis. We have to look for other options, as long as we live we have the chance to recover and stand up on our feet again so if you are suffering right now, please don't lose hope and start working again.

[maydna]

We can still be happy behind this pandemic because we have an internet connection in many places (although not all countries have a good internet connection). At least, we can use the internet to search for new ways to make money that will be useful for us and that jobs can give benefits to us. We can rely on the internet to search for a new idea to create or build a new business that can work as an offline business or even online business.

Internet marketing still opens the position for many people to try, but not many of them will succeed in that way. Writers, programmers, design, even traders can be the new solution for people to search for the opportunity to make money. If we keep trying to explore, there will be a way for us to get something better for our lives.

In offline lives, many people still struggle to make money by doing anything they can. They are trying to get a new idea that can break the old habit because I am sure that humans will solve their problems and adapt to the new changes. We can survive in hard situations because we are strong enough to pass the problem.

[Lorence.xD]

Starting a business is not as easy at it seems, I'm sure everyone will like to have their own business and be somewhat self employed, but there are many factors hindering the growth of small scale businesses and by extension, microeconomics. Capital is one of those factors, many people do not really have the capital to start the business of their choice, and the government are not willing to support small scale businesses with loans, it's easy to tell people to start a business, but without capital, starting a business is not possible.

It is pretty expensive in my country to register as a legal business. Not mentioning the time that you have to allot for your business to survive because you are not the only one with that kind of idea. The other hindrance is the bureaucracy surrounding registering businesses, a lot of paperwork needs to be done and some of them move at a snail pace that red tape offers are pretty attractive.

[hatshepsut93]

Millions of people lost their jobs, do you think a crippled economy could sustain millions of new small businesses, at times where businesses are forced to close down?

Yes, it's cool to teach kids online or deliver food, but the competition is already pretty big, so this isn't a solution to pandemic. Not everyone will be able to use pandemic to their advantage, some people will have to get the short end of the stick, which is why it's important that economy as a whole should recover as soon as possible.

[mu_enrico]

It's somewhat impossible to start a business during an economic shutdown, so the first thing we should do is push the government to reopen the economy. Once any business can open, then we can talk about starting a new business.

After the shutdown, some small businesses will reopen, but some that aren't prepared will go bankrupt, so there is an opportunity to replace them. Look at your neighborhood. You will find closed barbershops, restaurants, coffee shops, etc. It's your opportunity!

[Strongkored]

Find and making a new business during this pandemic is not easy, because it is not only us who experience of the economic downturn but almost everyone this fact will certainly affect demand.
Surely there are those who are successful but do not rule out the possibility that they actually lose, but experiencing losses at the beginning would be better than just being idle and hoping for help, usually new innovations in business will appear when we have started.
Luckily I have friend that produce helmet I can sell it in online marketplace, I can sell it first and pay to him after the transact success.

[yhiaali3]

For me, I live in a poor country, and now in the time of the epidemic, the matter has become much more difficult than before, so I found that working on the Internet is the best way to improve my living situation at the present time, I work and invest in cryptocurrencies and make good profits, although I sometimes suffer from difficulty Converting cryptocurrencies into local cash, but this is much better than relying on government salary, which is worth nothing.