Covid-19 pandemic’s impact on the business world is inevitable. Whether it’s big or small size business owners, both are struggling hard. Even with new and potential business ideas and strategy, many companies still can’t avoid the risk of closing, while others have to cut the number of their employees to lower the operational budget.
There are two options for business owners to get away from this tough economic situation. The first one is the recovery mode. Each business should know how hard their financial damage is. It will help to figure out whether the previous plan before COVID-19 still suits New Normal.
If it does not fit anymore, then the readjustment is a must. There is probably thought about looking for funding assistance, and then make sure to find the best source. As the recovery may require overwhelming effort, you need to develop a timeline to set priorities when rebuilding the business.
The next option to deal with the coronavirus impact to the business is investing in the new one. Here are some potential business ideas that you can choose from:
Home Improvement and DIY Stuff
Work from home (WFH) restriction has made almost everyone not be able to leave their house. To make the time useful, they get inspired to do DIY home improvement for potential business ideas. This can be a very potential business idea. You can make money by providing all home and garden materials.
Not only the provider, but the person itself can earn money by posting their DIY video and by selling the result of their creativity, usually using Online Marketplace or Social Media, two most popular selling platforms today.
The number of pet adoptions in New York has increased 10 times during pandemic. This new interest can raise many potential business ideas. you can provide pet-related products. Take for example the foods and toys. If you work in the entertainment industry, you can create shows dedicated to furry buddies. Or simply share your knowledge, skills and experience in training pets, like dogs especially, to the new adopters.
Home Beauty Products
Beauty and health centre is one of the public spaces that everyone today is not easily visited. It is more comfortable to buy products online and do beauty or health care at home. Some even prefer to order the ingredients so they can make DIY beauty kit. To help customers assist themselves, companies also provide custom training services. This can be potential business ideas for us.
Gaming and Live Streaming
How do people spend most of their time at home after finishing their job? Playing a game is one of the popular choices. Both children and adults always have enthusiasm for the new releases. Isn’t it a good chance to make money for game developers?
Not only for game developers, even gamers can earn a lot of money by streaming today. When people are home, usually they are very bored and looking and people playing games and watching their reactions are pretty funny and entertaining. One of the most famous professional game streamer is PewDiePie, who earn millions of dollars per month from YouTube. So you can see how prospective that is.
Fitness and Health
To avoid the crowd, people can’t go to the gym for doing some workouts. They can’t even play sports in the group. But maintaining body health is important to prevent getting exposed by a coronavirus. As an alternative, people prefer to buy some fitness gear and subscribe to online physical training videos to practice at home.
Therefore, some people have a creativity for potential business ideas to invest in this category, which can potentially last even after the pandemic is over.
Not every company can switch from one business to another. Take for example the companies that have many branches in one or more countries. The air travel ban has brought huge pressure to their business operation.
The special health regulation to avoid COVID-19 spread seems to be the best way out to all parties. Travel companies have started the protocol by providing the essential cleanliness needs that cover sanitation and hygiene. They now put travellers’ safety on the top priority. That is how people will be able to travel confidently, be it for leisure or business.
When the business trip must be done, companies have to look for ways out optimizing the budget. Airpaz.com is a one-stop shopping site for all information about airlines. It can help business owners find the best deal. They will be able to spare the travel funds for the health screening facility before hopping onto the plane. There are also chances to redeem some points on airline miles and hotel for various interesting rewards like free travel and stay.