The Corona Virus has caused unprecedented changes in the way we do business. Many people are now working at home. Some are not working at all. Some are scared that their business will not survive or afraid to take that first step in business.
The truth is, the downturn caused by this pandemic is not new. Our country has been through several downturns for different reasons, yet it has always bounced back.
I believe that our economy will bounce back again.
Here’s why I say that.
When the pandemic passes and the quarantine guidelines are lifted, people will begin to buy. They will buy necessities, but they will also buy things to make to feel good These things range from candy to entertainment and more If you are in a business that offers amazing experiences through your products or services. If you are a business that supports other businesses (marketing, advertising, direct service), you’ll profit too as more cash flow rolls into the economy.
When consumers experience a situation that limits their pocketbook, they open that pocketbook whenever their confidence returns. Whenever they start working and bringing in money, they are looking to spend it in ways that make them feel happy. They will want to go to that restaurant their family used to go to or the sporting event they go to every Friday.
That’s your opportunity
Here’s another reason I believe that you need to be ready for the economy. Some businesses are succeeding during the pandemic. While the coronavirus places demands on any business to stay safe, many businesses are actually thriving, including grocery stores, delivery services, and businesses that focus on services for work-from-home folks (like Zoom) are actually thriving right now.
That could be your opportunity too.
The key is maximizing what you can control and letting go of what you can’t. By building on what you can daily and staying open to opportunities, you will be able to position you and yourself for the economic recovery when it starts
You might argue that you can’t build a business during the quarantine. You might argue that you might not have enough customers for a successful business.
That’s where I would challenge back that you aren’t thinking big enough.
Instead of staying glued to the TV screen or scrolling for another catchy Coronavirus-related headline, use this time at home to plan your business. Start making moves that will help your business move from idea to an actual plan.
To support that forward motion, you need to set up a new routine. Because the quarantine might have affected your routine, you need to create another to guide your efforts. Whether you are working from home or looking to create work from home here are some tips from a recent DreamNation podcast episode that you can use in creating that routine:
- Start your day off with affirmations and goals.
- Create a schedule with morning, lunch, and afternoon breaks.
- Share your plans with the other people you live with.
- Dedicate some time each week to researching opportunities and to building your skills.
- Review your progress on a daily and weekly basis.
By following these tips and creating a routine for you, you’ll be able to add some control to your life. Focusing too much on the constant coronavirus updates on news and social media will take your time and spike your stress levels about things you can’t control.
Instead, focus on what you can control. Stay informed, and then follow your routine.
By focusing on a routine that builds off your goals, you make sure that your future business will be ready when the coronavirus pandemic is over and the economy is in full swing.
Leverage your time now so you can profit later!