Many small businesses planned their launches this year, only to have their attempts smashed by the sudden onset of a worldwide pandemic. Lack of preparation, unexpected illnesses, and quarantines have rapidly changed the face of the business world. However, there are still opportunities in this post-COVID-19 landscape. While it may not seem like it, recessions like the pandemic are the perfect atmosphere to launch a new business. As the COVID crisis highlights new daily needs and more businesses shutter their doors each day, the moment is ripe for entrepreneurs looking to make their move. Read on for five ways you can take advantage of these strange times to launch your new brand.
Take Advantage of Changing Needs
First, savvy entrepreneurs should look for ways to take advantage of changing needs during this pandemic. The COVID crisis clearly highlights the ever-changing needs of our current world. As health, sanitation, remote learning, and similar concerns are now our top priorities, the increase in demand for effective products and services should kickstart your creativity. Many entrepreneurs are already using their founding spirit to create brands around these pressing needs.
Not sure how to go about opening a new business? Consider your skill set, access to resources, and audience when brainstorming your next profitable business. Continue to adapt to the changing times as you refine your business ideas.
Prepare for the Worse
If you already have a business idea and are interested in opening up a brick-and-mortar location, make sure you take the time to properly research the area. Work with a geotechnical engineer to assess the quality of the land surrounding your property. These professionals are able to assess a property for its structural suitability according to the environment. These experts safely analyze and investigate properties to determine their stability, helping entrepreneurs to prevent potential emergencies at their businesses. This will ensure that your physical location is ready for most physical emergencies.
Tap Into the Global Workforce
See what you can do to access the now global workforce. Millions of people around the world were furloughed as a result of the pandemic. With so many talented and hardworking individuals on the hunt for jobs, founders with clever business ideas have access to a global talent pool that is ready to get to work. Tap into this workforce as you aim to build a business with a workforce you can rely on.
Get Ready to Scale Up
While most businesses experience scaling up over a period of years, in a crisis, this level of growth can happen in just a few days. As the pandemic continues to place a heavy focus on digital-businesses, brands that are able to solve COVID-related problems are already growing faster due to the nature of their business. Take advantage of this rapid rate of growth by preparing your brand to scale quickly during these times. This will help both you and your customers be able to handle the bumps and scrapes along the way.
Build Tools to Weather the Storm
Building a business out of a pandemic will ensure that your company is strong enough to withstand a worst-case scenario such as this. As you open your company, work to build a brand that can exceed expectations in an economy with rising unemployment and declining demand. The tools you use to build your business will help you to keep growing stronger as the economy eventually improves.
Stop putting off launching your new company. While the future is still uncertain, there’s never been a better time to launch a new business.
Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most of her time hiking, biking, and gardening. For more information, contact Brooke via Facebook at facebook.com/brooke.chaplan or Twitter @BrookeChaplan