During the Covid-19 Pandemic, when all businesses are having a hard time growing, it’s the best time to set up your dream business or to expand your business. Always think positively and always be creative with fresh ideas that are not outdated. Yes, we have to be creative to get out of trouble. Habits have changed, we have to adapt to the conditions and circumstances of the pandemic.
There are several reasons that I will give about this, the right time to start a business is precisely when it is a pandemic. Logically, in this pandemic many companies went bankrupt. So at least your rivals in business aren’t as much as when time is normal.
The world is heading for globalization
The spread of globalization has not stopped. Instead, more people are jumping on the bandwagon looking for goods and services from different countries. There is an unquenchable desire to buy the next “big thing” no matter the source of new ideas.
Rapid Dissemination of Information
As the world holds its breath for the technological journey towards 5G, what must be accepted is the speed of misinformation and misinformation. This means that with the right marketing strategy, you can push the company’s branding to a larger potential customer base in less time.
From social media to Mega Sticky Media (MSM)
I have created this acronym MSM because during the Covid period starting from 2020, there was a resurgence of Tiktok into a free media platform to convey business messages. It was like a combination of YouTube and Instagram but in hyper-second speed. For the first time in history, marketing people were forced to distill the essence of a brand to fit TikTok’s typical attention span. For many, this is impossible but for the youth market this phenomenon is simply referred to as “Must do it quickly!” GTDIQ – one of my newly created acronyms.
For businesses to embrace social change and become good business citizens is nothing new. It also makes good business sense. But the tsunami of social events that began in 2020 and how shareholders and customers will support businesses that will take a stand – has officially taken root. So, if you’re starting a new business, it’s almost a truism that your brand should include a certain level of being an agent of change for the betterment of society.
No Lack of Funds
Not only is there no shortage of funds, but there is also now a new financial model of the Special Purpose Acquisition Company (SPAC) that allows start-ups to bypass the traditional Initial Public Offering (IPO) route. There is now a huge demand for new patents and business models that help dig into new niches.
Food Security and Sustainability Issues
With the acceptance that food security and environmental sustainability will continue to challenge the minds of many government decision makers, there are abundant opportunities for further research in this area. Thus, start-ups can develop their business plans and strategies along the lines of these issues.
God always creates opportunities and gives us a brain to always think out of adversity. So, use your brain and get out of your comfort zone. This is a good time to start a business, when everyone is struggling.