Looking for innovative business ideas in the pandemic-driven period? Here’s the solution.
The Covid-19 or Coronavirus pandemic which initially affected China has now tainted over 200 countries. Its outbreak has affected world-economy drastically. The decline in the economy has been one of its kinds since The Great Depression of 1929. Rise and fall in the stocks can even impact pensions and Individual Savings accounts. Investors are anxious as they believe that the economy will shrink further and the government will remain incompetent. International Monetary Fund (IMF) claims that global economy will shrink by 3% by the end of the year, but if the pandemic dims in the latter half of the year, it does expect that the next year will bear fruits as the global growth will rise by 5.8%. Quarantines and lockdowns in China have disrupted supply chains throughout the world. According to a BBC report, over 30 million people filed cases of unemployment, leading to a havoc economic loss.
United we stand, divided we fall.
In this pandemic, manifold people can adopt business strategies to take advantage of horrified, innocent people. For example, buying all the hand sanitizers available in the market and selling them at a higher rate. This may bring us a fortune; but what’s the benefit of such money even if we can’t afford a peaceful slumber. That’s why we should adopt trade policies in which we can comfort the society or people around us and earn wealth against that help. This is the period where we must not only greedily look for our benefit but also our fellow citizens.
12 unique business ideas.
- Parents- At this very aeon, children are at home 24×7. Parents need to watch out their children, feed them, and confirm that they are utilizing this time productively and keep them engaged by accomplishing their (parents’) own tasks at the same time. There are a whole set of business plans in this arena like home-schooling, making them learn a new set of skills and other parenting things. So, if one can find parents and understand their problems, it would be a great source of help.
- Content creators– A content creator is a person who creates content online or offline including- articles, photography, videography, etc., on behalf of a company or a brand. Content creators are not aloof from this pandemic. Besides, innumerable clan might think of beginning content creation as a full-time job in this period and they are going to need help. So, there is a great opportunity for businesses that intend to provide a hand to these new content creators, like- editing their work, repurposing their information, etc. For an example- Editing videos of a YouTuber, repurposing their work, modifying their channel into a business platform, promoting their videos etc.
- Speakers– People who intend to speak for the world, society or on behalf of common people to inspire masses, change the society or improve their audience. The cancellations of events, live shows, etc., have exceedingly affected speakers throughout the world. Thus, one can step up and help them perform virtual events, or organize their virtual mini-events through social media like- Instagram, Facebook, etc. Moreover, experienced speakers can even write books, thus one can be a helping hand in this field too.
- Starving Artists– Artists, who sacrifice materialistic lifestyle to follow their passion or dreams including musicians, painters, sculptors, etc., are starving artists. They generally live at minimal expenses due to lack of enough recognition of their artwork. At the present scenario, these people are facing problems because of the cancellation of live shows, events. But one can step up to help them reach kids or youths who wish to learn a new skill, and teach their craft.
- Students– Students have been the victims of society and government since ages. College graduates or students who are about to appear in colleges are relatively idle at this time. Such students may wish to be productive in this period. Besides, there are even companies looking for young talents, they may pay less but as the proverb says, ‘something is better than nothing’, this may be a great source of some extra income for students. Thus, one can become the ‘middleman’ who can connect students with great talent with companies that need that talent. For example- Helping bloggers to connect with organizations.
- Entertainers– Artists who intend to entertain others with their art, including- struggling actors, comedians, musicians etc., are entertainers. These are the people who used to travel for auditions, perform in events, parties, etc. But as now there is no opportunity to be part of these actions, these artists might be looking forward to continuing their work virtually. Thus, one can step up and help these entertainers to create an online platform for them, create or build their brands, repurpose their work. For example- Creating or organizing live online shows for stand-up comedians, creating TikTok profiles for actors, suggesting them content, etc.
- Health & fitness–
In this lockdown period, lack of outdoor activities may lead to obesity or other health issues. On the other hand gym trainers, fitness enthusiasts are out of a job now. Thus, one can step up and help to create platforms for these trainers which can be a source of mutual help for both trainers and people looking for help towards their health. For example- creating personal brands for the trainers, setting YouTube channels and Instagram profiles and modifying them into a business platform.
- Software solutions– At this period, there may be organizations looking forward to transforming their traditional business platform into an online platform. Thus, one can help these organizations by creating a software solution for them to run their inventory, promote their platform.
- Memberships– This pandemic has led people to detach from their friends and the external world. Few ones living alone are even detached from their families. This isolation can turn into depression. Thus, one can create a membership platform to form a community and build a connection between masses and earn from monthly occurring payments.
- E-sports and Gaming– Though the term ‘sports’ have become relatively infamous in recent time, but e-sports is still on track. Besides, the number of e-sport players is comparatively high in the recent pandemic. Thus, there is an immense opportunity in this field. One can organize tournaments for these players, set up YouTube channels, streaming services, advocate software companies and share reviews on best VR gears that are available in the market right now. This is an enormous place for new opportunities regarding VR, AR, etc.
- Athletes– From college athletes to professional athletes all are suffering right now. Thus, one can step up and become their go-to-public and form their part of brands and help them reach new audiences. Furthermore, they can help to connect athletes with youths, guide and teach them their sports.
- Education– Education is the most important subject to focus on. It opens up an enormous portal for business opportunities. From helping parents how to do social learning with their kids at home to helping teachers learn to connect with their students to helping colleges how to keep on taking interactive-classes and conduct examinations, helping tutors by creating platforms for online courses. Out of all the opportunities discussed above, this is likely the biggest one, which provides a space to experiment and implement new business ideas.