Were You Affected By COVID 19? You Need These Tips And Tricks To Sustain Your Business

There is no doubt that 2020 has been a difficult year for businesses. This comprises of new and existing ones. The outbreak of the novel COVID-19 in December of last year created a difficult atmosphere for businesses to thrive. Things were made more difficult with the enforcement of stay at home order around the world to curtail the speed of the deadly virus.

Therefore, to ensure your new business survive these difficult times, a change of strategy is crucial. Starting a new business and making sure it thrives will need you to break the pattern and lead your, business in a new direction. A direction that lots of people are willing to take. One thing that is certain is that the outbreak of COVID-19 will have a lasting impact on sales, decision- making, and networking of a business organization. With proper understanding, this impact can be positive.

The first thing a business need is to create awareness. People need to know what your business is all about. Therefore, you need to put yourself out there. This is why interpersonal communication is crucial to business growth and sustenance. In this article, we are looking at ways you can build a thriving business in this difficult times, and sustain it.

These tips as well as tricks are steps we believe are crucial to the growth of any business in a time such as this one.

• Go digital

It is difficult to know to foresee the full impact of COVID-19 on businesses across the world. Most economic organizations predict a trade decline of 30% or more during and after the pandemic. This means the most economies around the world will collapse or are on the verge of a collapse. The stay at home order issued by most governments is a major cause of this predicted decline. However, the use of digital marketing can help vision these effects. The focus for small businesses as well as those thinking of creating a business to beat the economic impact of the virus should be on digitalization.

The use of digital technology will improve communication, collaboration, and marketing. Three essential aspects of the business that ensures its survival. Therefore, there is a need to create modern rules that will govern the use of digital technology to boost businesses as well as build new ones. These are crucial to both developed and developing economies.

The major advantage of digitalization is that it removes physical restrictions which have become rampant since the outbreak of the novel COVID-19 virus. Lockdown, and stay at home orders have no bearing on digital trade and digital technology. Therefore, things like e-commerce, networking, freelancing, online health services, and E-learning can go unrestricted in this period. These are things that are essential to the sustenance of our world.

• Freelancing

Freelancing has become more popular in the last couple of years. Even before the outbreak of the novel COVID-19. The surge in popularity has to do with the need of most employees to reduce their physical workforce so they can boost revenue. The major advantage of freelancing is that for employers, it removes the need for physical office space. This saves the cost of renting office space to perform the same task that can be done from the comfort of your home. All you need is a computer.

The bottom line here is that COVID-19 is bringing into the spotlight basic problems that define the work-life of most workers around the world. About 20% of the workforce globally are self- employed. With this number, 35% of Americans are represented. These statistics also indicate that freelancers bring about $1 trillion into the economy of the United States alone, the reasons for this upsurge in freelance services worldwide are due to the following reasons.

1. Freelancing has become safer than full – time jobs

Since the emergence of the COVID-19 virus, the spread has been rapid. To forestall its spread, lockdowns and stay at home order has been placed in most countries. Therefore, as the pandemic continues to ravage the world, more people will be forced to stay at home, coupled with the uncertainty and yet to be created COVID-19 cure, a lot is yet to be seen and understood of the virus, but technology seems to be the only way out for businesses and enterprises to stay afloat.

Hence, corporations are asking their junior workers to work from home and only the executives or third in management positions are allowed to come in on certain days. Furthermore, in most countries, only essential workers are allowed to leave their homes. This is o e of the reasons there is a surge in the number of workers engaging in freelancing these days.

2. It is an alternative source of income

Lots of us are aware of the saying “necessity is the mother of invention”. After the global recession of 2008, most people began to see the need to have a second job. One thing that COVID-19 has indicated is the worldwide recession. Therefore, most people are aware of the danger that lies ahead. Freelancing provides an alternative source of income. This income is tax-free and doesn’t involve as much stress as full – time work does. It gives the freedom to pursue hobbies without worrying about your superiors and what they may think about your work. You can also do your full – time work and freelancing at the same time comfortably.

The recent outbreak of the virus has led many to predict that the number of freelancers in the world will double from the current 30% to 60 within the next five years because of a change in the mentality of current freelancer who sees it as a way to fight boredom before will now look at freelancing as a vital source of income.

3. Less personal contact

One of the fastest ways COVID-19 spread is through human contact. With freelancing, you don’t need to make personal contact with your clients. This improves health safety for you and your loved ones. It is unclear at this moment how long coronavirus will be around. Therefore, no one can predict when things will be back to normal. Hence, the need for people to look at freelancing as a means to sustain themselves as well as their loved ones.

Conclusion

Freelancing is becoming more attractive each day. According to projections from most freelancing websites, the number of people signing up for freelancing jobs are constantly rising daily, freelancing isn't country-specific, anyone can be a freelancer without needing degrees or so much qualification, all you need is a smartphone. Nigerians in spite of the complaint of high data fees are still one of the highest users of data and the internet in Africa, freelancing can be the much-needed boost for youths with tech skills to make a living as well as companies who are looking to stay afloat while reducing excess staff in the office.