And yet it came. This was recognized even by those people who, just a few months ago, assured literally the entire country that this simply could not happen. Now it is clear to everyone that the crisis has come into its own. Although, who knows, maybe the worst is yet to come? However, let's hope for the best. In the end, many business analysts may not be so wrong when they say that you can make good money during a crisis. In addition, in difficult economic times, there are even certain benefits for beginning businessmen in starting their own business. We’ll look at which ones in today’s article.
The best option for a business during a crisis is to “hide your head in the sand” like an ostrich.
Or, simply try, if not to keep your business in its current position, then at least to minimize losses. And there... where the entrepreneurial success curve will take you. At least, this is what many businessmen think, from owners of small retail outlets to owners of large retail chains. What is the best way to trade during a crisis so as not to lose business? This question is now relevant for thousands of entrepreneurs. Although, the Russian economic realities are such that “troubled times” for the ruble come with an enviable frequency of 4-6 years. Don’t even go to a fortune teller here. By the way, this means that the next “tension” should be expected in 2019-2021. Get ready. However, jokes aside, the problem for business is really very serious, both for traditional and Internet entrepreneurship. After all, in this world everything is interconnected.
Agricultural business in crisis
Agriculture, like many other sectors, has also been affected by the coronavirus situation, and the risks here are certainly great, but the situation does not seem as critical as in other areas.
Firstly, agricultural products will always be in demand. No matter what happens, people have always eaten and will continue to eat. During periods of crisis, people are ready to deny themselves almost everything except food, and the share of household budgets for food is growing. If last year it exceeded 44% of the total budget, then in 2020 it will clearly exceed 50%. This, however, does not mean at all that people will buy more food than before, quite the contrary. However, this clearly illustrates the setting of priorities in a crisis.
Secondly, one of the long-term consequences of the coronavirus pandemic is the return of people to small towns and even villages. It is unlikely, of course, that Russians will rush en masse to study agronomy, however, many people who have realized that there is no need to constantly be present in the city office may think about other types of activities, including those that are closer to nature, gardens and vegetable gardens: cleaner air, rental the fee is lower.
Agriculture can hardly be called a business; for many people it is more of a way of life. We wrote about what types of activities can be found on private plots and in the countryside here and here. Today, buyers prefer fresh and natural products and cheaper ones. And we can offer it to them. It is most profitable for such a “small but proud business”, which makes money, for example, from selling fruits, vegetables and other things, to sell products through markets and fairs. It is extremely difficult for small businesses and farmers to break into grocery chains, and it is not profitable either: resellers sometimes have to sell their goods for next to nothing or even below cost.
If you have to do gardening and gardening, this does not necessarily mean that you need to follow the example of “grandmothers from the market”. It’s the 21st century, and on the Internet you can find examples of how young eco-farmers make money from delivery services for fresh vegetables and fruits. One of the popular formats is the organization of seasonal subscription services for farm vegetables and fruits with pre-sale of subscriptions. Sometimes buyers do not immediately find out about the contents of such green boxes and it becomes a surprise for them. Of course, subscribers are usually residents of large cities, who follow proper nutrition, and young families.
Agriculture trends in 2021:
We also note some trends for 2021, which are noted by experts on the situation in Russian agriculture in connection with the coronavirus:
- Violation of purchase and sale chains.
In connection with the coronavirus epidemic, many chains associated with foreign markets and domestic supplies were disrupted and broken, public catering practically does not work (in Russia - only for takeaway), hotels are closed - many farmers lived by regularly providing restaurants and cafes and others with their products establishments.
- Reduction of logistics shoulders.
Due to the fact that many countries and regions have various restrictions, and many sales chains are disrupted, the trend in agriculture is to localize production and supply. Agricultural enterprises and processors strive to reduce transportation costs and risks. Today it is difficult to understand what “adventures” can await in a particular region of the country, so preference is given to those buyers who are in their region.
- The coronavirus will not affect the 2020 harvest, but yes, it will affect the 2021 harvest.
Since the covid epidemic came to Russia after most of the expenses for the current year had already been made (seeds, fuel, etc.), harvests will depend on traditional factors: such as weather, quality of work, etc. However, if the market situation worsens, the 2021 harvest will certainly be affected: farmers will have less money to plan the year and will have to save on something: for example, on the volume of crops.
- Lack of seasonal migrant workers.
It is no secret that the majority of agricultural workers who come for the seasonal harvest are migrants from the CIS countries. Due to the coronavirus epidemic, many of them were unable to come this year, so farmers are forced to look for new labor, do manual harvesting, and even reduce plantings.
- Shortage and rise in prices of feed and medicines for livestock.
Many companies involved in the supply of vaccines temporarily ceased their activities, which could not but affect agricultural producers from Russia, who depend on foreign supplies. In addition, many agricultural enterprises have faced the problem when the closure of a single supplier from a neighboring region or transport company has put them in a difficult situation. Since the region does not have its own feed procurement system, purchasing medicines, vaccines and feed has become even more difficult and expensive.
Don't refuse help
It’s difficult to call the support measures offered by the government “goodies.” More like this, they handed out a cracker to chew on, and even then not to everyone.
Use everything they give you. Yes a little. Yes, you will have to make a fuss, and yes, watch the crooked grins of the bureaucrats. So what? But neglecting the opportunity to receive even small benefits is stupid. Subsidies, deferments - take it all.
And for borrowings, calculations are needed. For example, a loan “for salaries” – even at a temporarily “zero” interest rate – well, that’s it... It may not be such a luxury, and not so interest-free. Maybe it’s more profitable and easier to transfer people to part-time work or make a decision to quit than to hang a credit collar around your neck?
Even if you are not from the “particularly affected” industries, systemic and city-forming companies - do not be modest and do not complain that you were bypassed by support measures - still apply for debt restructuring, deferments, rescheduling and other concessions due to crisis circumstances! With proper justification, this is quite possible.
Business in a food crisis
Continuing the theme that people will always eat, we would like to highlight a category that includes all other areas related to the production, storage and delivery of food. In 2021, people will enjoy daily food, baked goods (everything about opening a bakery is here), cheap alcohol, and soft drinks.
From this collection you can learn about examples of food production in small businesses. Due to the closure of most restaurants and cafes, the sale of street food has become more relevant - 15 street food business ideas can be found here. Also, while restaurants and cafes are closed, vending, in particular, the sale of coffee through vending machines, may be relevant. For public catering, one of the few sales channels today is home delivery of food with a connection to aggregator services. Meal subscription services can also be arranged. In many ways, household services for the repair of refrigerators and freezers can be called an anti-crisis area. As a rule, people do not put off such a breakdown for long.
Business idea number two – hotel business – mini-recreation center
If you live near recreational areas, for example, near deep rivers with an abundance of fish or clean lakes, you can buy a small plot near the shore. You can build a small fishing or hunting lodge there. This house can be rented out for the weekend or daily.
Of course, the reservoir must have a fishing permit, otherwise people will not go there. You can also build a small boat garage on the site and charge money for renting a boat. A great addition would be a small sauna with the ability to steam. You can also rent fishing rods and other equipment.
In an area where many people go fishing or hunting, you can open a store somewhere along the road with accessories for hunters and fishermen. At the same time, you can sell household goods and the most necessary products - tea, coffee, cereals, drinks, stewed meat, spices.
Business on security
During periods of instability and epidemics, a person experiences a threat to his safety: both in financial and material terms, and in physical and psychological terms. Such sentiments are understandable: not only is the epidemiological situation deteriorating, but also the financial condition of people, which inevitably leads to an increase in crime. In terms of protecting material property, meeting such needs can be expressed in financial consultations, installation of security and anti-theft equipment, video surveillance systems and other things, sale of weapons and personal protective equipment. During quarantines and self-isolation, when city residents want to leave their apartments and travel abroad is prohibited, renting dachas and country cottages is popular, where the family can feel safe. It is also worth paying attention to this psychological aspect: during periods of crisis, the mood of the “coming end” is strong, so online psychological courses, survival courses, self-help lessons, meditative practices, business ideas in the field of yoga, etc. may be in demand.
Foreign entrepreneurs have noticed that big money can come from the need for security among wealthy people. For example, in the United States during the coronavirus period, the business of producing bunkers is booming.
Photo: RT/Alexey Brazhnikov
According to entrepreneur Ron Hubbard of Atlas Survival Shelters, who has two bunker manufacturing plants (in California and Texas), their business is now “on the rise.” The bunkers themselves are made of steel, and the size and “filling” depend on the client’s wishes: the most budget options measuring 3 by 4 meters (with a shower, sink, sofa, two beds and ventilation) cost 50 thousand dollars, while large family bunker houses cost under 90 thousand dollars.
Don't get stuck on negativity
A negative information background arouses wild anxiety and plunges you into despondency. Don’t give in, don’t engage in soul-searching, don’t waste your energy on harmful stuff that traumatizes the psyche - you need yourself healthy! You definitely won’t be able to resolve the problems of the global economy, you won’t be able to raise world markets, you won’t be able to restore oil prices... Concentrate on the main thing - on what depends on you personally.
During the period of self-isolation, do not sit on social networks, but continue to work actively - call partners, clients, monitor information on banks, content websites with practical advice. Consult, brainstorm, experiment, look for opportunities.
Chat with loved ones, play sports and do things that bring you pleasure.
The real world of business is tough. And no one has canceled natural selection. The most effective, the most tenacious and reasonable, not subject to emotions and panic attacks, survive.
Business for health
Health-related business is a broad concept. After all, the topic of health and a healthy lifestyle includes not only pharmacies that continue to operate, but also sports sections with fitness clubs, the sale of healthy food, the production of medicines and health products, and even the collection of medicinal plants. Laboratories that collect tests that can conduct tests for coronavirus are relevant today. Cleaning companies can benefit from the current situation by talking more about the importance of the disinfecting and sterilizing part of cleaning and promoting their services as socially beneficial.
We recently wrote about a new type of business that may be in demand during such periods - a drug delivery service. Today on the Internet you can find many examples of speculative business in the production of protective masks, which in fact serve as original accessories rather than actually protect. Products such as sanitizers, antiseptics, and gloves sell well. Products are most often selected through orders on Alibaba or Taobao. However, keep in mind that you need to behave responsibly towards customers and not hide behind the topic of health if you have nothing to do with it. You also need to remember that fines were introduced for the illegal trade in masks and protective equipment in Russia: up to 150 thousand for entrepreneurs and officials, up to 500 thousand for companies and firms.
Also remember that people are no less concerned about their health than the health of their pets, on which owners try, if not to save, then at least not to give it up. Therefore, the services of veterinary clinics and veterinary pharmacies will remain in demand.
Breaking the mold in your industry
First of all, focus on your market niche - the one where you have expertise and pros. Remember that in other industries no one is waiting for you. In addition, do not be under the illusion that in the current economic conditions you can easily and simply intercept clients from a new line of business that other entrepreneurs have been building and acquiring for decades. All fantasies need to be calculated. Especially during a crisis (more on this below).
In Focus:
- study of current consumer demand during the crisis and forecast after it,
- diversification and repurposing of production, logistics, modifications of services for a wider consumer market,
- maximum sales focus on the online sector: finalization of the website (if it’s been put off for a long time, now is the time!), implementation of an e-commerce system, optimal solutions for logistics and delivery,
- the most daring working advertising opportunities of the Internet and social networks, setting up contextual and targeted advertising,
- temporary renunciation of class - people are not showing off now - they are counting money,
- reorientation to production and without obvious loss of quality,
- getting rid of ballast - eliminating clearly unprofitable activities,
- filling niches vacated by competitors or consolidating efforts to expand the consumer market (for example, production + logistics, trade + delivery, scientific research + IT solutions + production),
- expansion of presence areas through interregional expansion or bold entry into the foreign market, starting with the EAEU countries,
- analysis of the target audience, their needs and sales tactics by consumer category and work with it. Who needs what: concessions, care, stroking, spanking, magic kick-offs, assurance of support and help to cope with life’s problems associated with the crisis. The safest bet is on current paying customers. Attracting new clients is always difficult, but now it’s even more difficult.
Home services
In 2021, many service sector firms ceased operations indefinitely. But the need for these services has not gone away. It is no secret that many hairdressers, manicurists, massage therapists and other workers in the field of beauty and health began to work from home, because the state did not offer them an alternative to receive money in another way and feed their families. In such conditions, many specialists are beginning to understand that it is more profitable for them to work this way, forming their client base, than to wait for the situation to improve and sit idly by on reduced wages with minimal salaries, or even without them at all. The format of this is not even a business, but self-employment, when you have a certain necessary skill, and people have a need for your service, is found in many areas, for example, in household services “husband for an hour”, repair of household appliances, in construction business and home renovation (a selection of 25 ideas is here). As a rule, specialist services are offered by craftsmen through Avito, Yandex.Services and other similar services.
Believe in the best, but prepare for the worst
Model an action plan for possible scenarios for the development of a stressful situation: up to the most negative scenario, in order to understand in advance the volume of available resources and the depth of restrictions to save the business from going into a tailspin.
We need to calculate options for action if revenue falls by 10%, 30%, 50% based on calculating the financial strength of the business: 1) how much can prices be lowered while maintaining a competitive advantage in the market, 2) when is it necessary to start cutting costs, 3) a when a sharp decisive maneuver is needed: downsizing the business, emergency staff reductions, or even suspending operations with a piercing squeal of brakes.
If collapse is imminent, it is worth taking measures to protect property and valuable assets in advance. In the event of a threat of bankruptcy and bringing to subsidiary liability the persons controlling the debtor, the issue of protecting the personal property of the owners and management of the company is relevant. It is also important for individual entrepreneurs, who are a priori liable for their obligations with all their property.
Valuable assets and property can be:
- sell,
- lease with subsequent purchase by the tenant,
- transfer to a new legal entity,
- pay dividends with property,
- register a deposit with a bank,
- conclude a marriage contract, etc.
In conditions of high uncertainty and turbulence, prepare for the worst possible scenario. When adapting to new circumstances, plan for the crisis to last at least until the end of the year. If it ends earlier, you will be in the black.
Production of original goods at home
A crisis is a crisis, but modern people are still greedy for everything new and unusual. Looking at your Instagram feed, you realize that home production is experiencing a new creative wave. There’s so much you can see in the feed: figurines of people made from plumbing fittings and pipes in the loft style, wall maps with 3D river depths, designer knitted toys and socks for table legs, decorative items made of wood like moon lamps, dog beds and car seats... Thanks today On social networks, it is not so difficult for such craftsmen to reach the sales market, and the crisis is not an obstacle to this.
Previously, in articles we covered the ideas of production at home and in the garage, we wrote about examples of making money on needlework and handmade toys sold through Instagram. It would seem, why do people buy toys during a crisis? But here we can remember the non-functioning kindergartens and schools: parents, exhausted by the activity of their children, will certainly be happy to occupy their screaming child with something new. No matter how different many ideas may seem, the principle of success today is simple: you should choose the direction that will be interesting to you and offer an original and attractive product that will have no competitors.
Look for life-giving sources
Decide on finances and prospects for funding sources:
- what about the airbag - how long will the reserve and old stocks last,
- what assets are quickly liquid: what can be done if the situation worsens: sell, lease, pledge. How long will it be enough to stay afloat if suddenly.
- bother debtors: 1) end relations with those who violated payment terms already in pre-crisis times 2) agree on payment schedules with the rest to prevent cash gaps 3) post-payment is a luxury only for executive and financially wealthy buyers.
- evaluate the possibility of financial investments from business owners and shareholders. And the reality of installment plans from partners who suffered less from the crisis.
- find banks that do not increase lending rates - in case it is completely impossible to recover without new loans. And evaluate the reality of refinancing existing debts on more acceptable terms.
- crowdfunding in a crisis is unlikely, unless investors are suddenly struck by the persuasiveness of your presentation and the prospects of the project.
Business in crisis. Toys for adults
Speaking of toys. They are needed not only for children. Sales of adult toys are growing significantly during self-isolation. For example, the Womanizer brand announced an unplanned 50% increase in sales of sex toys. Due to the fact that people began to spend more time at home, they began to need to diversify their leisure time. Russian market participants also report an increase in sales of condoms, massagers, lubricants and suits. A threefold increase in sales of goods for adults compared to the annual average was recorded by the Ozon store.
Educational courses
During times of economic instability, people continue to ensure that their children receive an education.
As a rule, the crisis is not a serious obstacle to this process, but tuition prices are rising, so many young people cannot enroll in a prestigious university. Therefore, the demand for short-term training courses is beginning to grow. If you can sing, dance or play the guitar well, share your talents and skills with other people and get good money for it. This is an excellent option for people who speak foreign languages or some professional skills to make money during a crisis.
Home delivery
The possibility of home delivery during periods of epidemics is more important than ever. Catering establishments understand that they cannot make money on take-out sales alone and are connecting contactless delivery systems, connecting to services like Yandex.Food, and so on. But you can deliver not only food to your home, but also much more, for example, animal feed, medicine, printing and souvenir products. You can read more about types of delivery businesses here. Also pay attention to the trend of subscription products, which has long been widespread abroad and is becoming increasingly popular in Russia. Having your own truck will be a big plus (you can find out about ways to make money on a Gazelle here).
Cutting bones
Reduce costs to the lowest possible level. The goal is not only to avoid losses, unjustified and unnecessary expenses, but also, importantly, to create a competitive advantage in your business niche in the face of declining consumer opportunities:
- capital investments should be postponed until better times - except for projects at the completion stage, which will help to gain competitive advantages during the crisis and after it;
- review, minimize or eliminate absolutely all unjustified expenses. “Freeze” as much as possible and stop servicing “non-core” assets that do not generate income and are not used in activities;
- if the business is dependent on imports, it makes sense to once again look for analogues of domestic manufacturers;
- To reduce management costs, transfer business processes to a remote work format as much as possible.
Types of earning money online during a crisis
Online business is perhaps the first thing that people who find themselves confined to four walls or who have lost their jobs in traditional industries pay attention to. Today, guides conducting online excursions, teachers and fitness trainers trying to make money with private online lessons and courses, chefs trying to launch online culinary schools, and so on are forced to look for ways to make money online. Previously, we wrote about 17 ways to make money without leaving home, but of course the options are not limited to these ideas.
Perhaps 25 ideas for making money on your own website or ideas on how to make money on one of the social networks, for example, Tik Tok, Instagram, VKontakte, Telegram, Pinterest, Odnoklassniki, and also will help you in the Yandex.Zen service and on YouTube video hosting. Creative individuals will certainly be interested in 20 ways to make money online as an artist or a new way to make money by conducting online psychological games. Since people began to spend much more time online, online cinemas and streaming services are doing well during the Covid period, and this is also a good time to launch blogs. The most promising professions include chatbot programmers, neural network and data science programmers, 1C specialists and SEO specialists.
Number 6 – grocery delivery
You can deliver ready-made meals or cooking kits with step-by-step recipes. It is better to focus on gourmet dishes, for example, for julienne soup or paella. It makes sense to open such a business in a large city where people follow the latest trends. The target audience is young people who are not keen on cooking, but often visit restaurants.
For the client, preparing a dish from ready-made products is an opportunity to feel like a real chef and get rid of a lot of boring operations. A person does not need to peel potatoes or boil squid; he has ready-made semi-finished products, but all the products are fresh and not processed.
Business in crisis due to the desire to save money
During a crisis, people strive to save on almost everything, so second-hand stores, consignment stores, children's consignment stores, fixed-price stores and similar drogerries, which rely on goods with a long shelf life, become relevant. Most business ideas that can be launched in residential areas are designed for economy class. A selection of 15 ways to make money on old and unnecessary things can also help you.
Another angle on the same topic is the desire of existing businesses to optimize business processes, to replace workers with automated systems and cloud services.
Separating flies from cutlets
During a crisis, it is necessary to optimize all business resources with the main focus on profit. That is, for survival. You will have to become practical and selective: not to be scattered about trifles and vanity.
Let’s remember the “principled” smart guy Pareto, his 80/20 rule and leave only highly profitable areas and only “juicy” buyers. We get rid of low-profit products, part with small, insolvent and problematic clients, from whom “there is a lot of squealing, but little wool (profit).” No offense. This is a crisis.
Ritual and esoteric business in crisis
No matter how blasphemous it may sound, people always continue to die, and especially during periods of pandemics. This does not mean that you need to rush to open crematoriums and funeral homes, entering a tough and rather dirty business. You can think of other ideas as well. In particular, the topic of service aggregator services is popular today, and funeral services are no exception - for example, the Umer mobile application, which helps calculate the approximate cost of a funeral and order all the necessary services without spending extra money and effort. You can try to create and promote similar services for the wedding sector.
Another sign of troubled times is the turning of some people to ecosetherism, mysticism, and the unknown. During periods of change, people cannot find answers in the reality around them and more often turn to psychics, astrologers, tarot readers and any other people who can somehow answer their questions.
What is a crisis
A financial crisis is a temporary decline in the economy.
Another way to describe it is as an imbalance between supply and demand. People's incomes stand still because specific companies are not able to pay them more. At the same time, prices for food, clothing and utilities are rising. A recession in the economy can be caused by economic reasons - the global crisis. Or it may happen due to political changes. This will relate to the crisis of an individual state.
The last global financial crisis was in 2008. A decade later, there is renewed talk of an imminent economic downturn. Are the rumors justified or is it just groundless panic?
My answer is this: processes in the economy are cyclical. They are sure to repeat after a certain amount of time. The question is when exactly this moment will come. No expert can tell you the exact date. There are only isolated market signals indicating an approaching crisis. But we won’t be able to avoid it, so all we can do is prepare for it correctly and make money from it.
Reasons why people fall into crisis
In essence, a recession in the economy is an outflow of money from fast-growing areas to conservative assets. What's behind this? Increasing loan rates for commercial organizations, causing ineffective companies to go bankrupt. People are left without work and can hardly earn even a penny. And this is the main disadvantage of the crisis, which is why they are so afraid of it.
How to find the right way out of the crisis
For me, a crisis is a time of opportunity. And in order to get the most out of it and earn money, I noted 5 main steps for myself:
- take control of your finances. Pay off debts, close loans. Review expense items. If there are holes where money is leaking, patch them. Create a safety net - an untouchable reserve that, in the event of a collapse, will keep you afloat for at least six months;
- understand what a crisis is, and understand its mechanisms, how you can make money from it;
- study investing. Get the knowledge that will help turn economic processes into a positive direction;
- develop your own investment strategy;
- acquire liquid financial instruments in order to be able to buy securities or real estate at a low price. Use an additional source of income.
How to become richer during a crisis
How to make money during an economic downturn without losing what you have?
3 tips:
- Don't give in to general panic. The scale of the crisis is often exaggerated. Read books about successful people who built their business from scratch, apply their recommendations, look for ways to make money;
- Don't forget about your education and work experience. Just because your company goes under doesn't mean there's no place for you anywhere else. It is possible that employees with your qualifications are required in other companies that are more stable and efficient. Or maybe you should try working for yourself?
- consider all your options. You can make money from a regular hobby. Or do you have talent? It's time to show it to the world.
Business in crisis related to autonomy and outdoor recreation
The crisis and decline in purchasing power are forcing people to look for ways to live independently. The reasoning here is simple: the less dependence on expensive municipal services and purchased goods, the better. What can you offer to a person who dreams of turning his country house or dacha into a conditional fortress, ready for a siege of the Pechenegs? This could be drilling wells, creating autonomous sewers (for example, septic tanks made of bricks or tires), installing greenhouses, solar panels, wind turbines, mobile phone amplifiers, satellite dishes and much more.
You should also pay attention to goods that provide such autonomy from civilization and unnecessary expenses for movement, food, etc.: travel goods, bicycles and backpacks, hair clippers, tools, fishing goods, etc. and so on. Due to restrictive measures in cities and the intense heat of the first half of summer 2021, along with these categories, the demand for entertainment products for outdoor recreation is growing. According to Ozon, this year sales of bicycles increased by 452%, compared to June 2021, sales of inflatable rings increased by 151%, swimming mattresses by 23%, and diving masks and fins by 22%.
Count everything
To prevent your business from turning into a pumpkin one day, during a crisis you need to keep your finger on the pulse and literally manually control the main financial indicators - sales and expenses.
The dynamics of reductions in these indicators must be monitored daily. These trends must diverge: cost reductions must occur faster than sales decline. Otherwise, it’s a direct path to bankruptcy.
The correct approach is to determine profitability by direct / variable costs for production and sales of products. Make mathematical calculations of the break-even point for each direction, for each product group. This will make it possible to flexibly manage sales - and focus attention on highly profitable product items and regulate prices by product groups, avoiding losses.
Determine your margin of financial stability to take timely measures in the face of a tough struggle for survival.
Business in crisis on training and retraining
Although the education business has experienced enormous difficulties, the need for education and retraining has not gone away. Moreover, more and more people today understand that they need new knowledge and new professions. Even the most conservative offline representatives understand that they can no longer live without the network; they need to open an online school or online courses.
There are many channels for making money online today during a crisis: tutors can conduct their classes via video conferencing online via Zoom, Skype, Yandex.Telemost, etc., business trainers and coaches can use new opportunities to interact with audiences through social networking services. One of the trends in learning is gamification. The main questions of business in a crisis remain only what exactly, what kind of knowledge to offer to the audience, how to competently package and promote it. We wrote about the basic principles of creating and promoting information products on the Internet in this article. Demand for the appropriate equipment needed by bloggers may also increase: cameras, lavalier microphones, lighting equipment, etc.
14.07.2020
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Expand your horizons to the limit
It may happen that the business is completely ruined. And it will not be possible to restore it in the usual niches. This must be understood, and in time, and accepted.
It is known that a crisis often gives birth to new brands and opens up new names. Experiment - suddenly an unexpected solution, an author's collection, an artistic concept and a swift maneuver will turn out to be breakthrough and effective.
Movements, tests, experiments - now is the time. Break the mold, set new standards, integrate into new niches, amaze with unexpected conditions. Don’t sit and wait in the “right” place for the “right” time. Hurry to seize the moment here and now.
For example, the famous whiskey manufacturer Jack Daniels urgently launched the production of hand sanitizers, and the Russian L'Oreal plant began producing antiseptics. And the legendary Burberry Group, along with premium-segment clothing, produces masks and gowns for healthcare workers. In post-pandemic times, these products will also be in demand.
Annoying force majeure in the medical field, dull distance learning technologies, digital expectations of authorities, government agencies, small and large businesses, and ordinary solutions to the life problems of ordinary people are an uncultivated field for showing heroism and introducing innovations. And for digital and technological revolutions, this is generally the right time.
Online sphere
The field of work on the Internet is actively developing. This is generally a modern trend, but the current situation has become an additional trigger for the development of online business. This direction is suitable as a business from scratch during a crisis.
- Creation and monetization of an author's blog or vlog. If a person not only likes to read interesting texts and watch videos, but is also ready to create original material, he can create his own blog or vlog on one of the Internet portals on which to post his material. The author receives money for views; In addition, you can place advertising of partners, for which you can charge money for display.
- Opening a web studio. With the necessary knowledge and skills, you can sell turnkey website creation services. Every sufficiently serious company at the moment must have its own representative office on the Internet.
- Application Development. A person with programming knowledge can create games or useful applications for mobile devices. A game or application can be created in such a way as to place (for money) advertising from partners, or some of the services can be paid.
A crisis is not a time of continuous disadvantages and losses; it also brings many opportunities.
Of course, everything is smooth only on paper: starting and bringing a business to fruition is not easy, given the current conditions. However, for those who are ready to act decisively, the current situation will give even more than in normal times.
Food industry
Food production is always in demand; if it is affected by the crisis, it is to a lesser extent, and for obvious reasons. People need to eat, drink, and satisfy this basic need, regardless of crises, pandemics or market conditions. Here you need to correctly determine the niche and pricing policy, make a competitive product and competently promote it.
What to focus on during the crisis of 2021? Let's highlight profitable business ideas:
- semi-finished products, freezing;
- smoked meat, fish and sausages;
- fast food (fast food);
- pasta;
- confectionary shop;
- natural and drinking yoghurts, ice cream;
- production of pizza, delivery of pizza and other prepared and semi-finished products (with the option of delivery for several evenings at once).
The profitability of the food business, when properly organized, can be seen even in competitive conditions. People need food every day; they seek to diversify their diet and are open to new foods.
You can build a profitable business based on people's need for food
Needlework
People who are interested in handicrafts can earn good money from their hobby. Handmade products add more coziness to any home, which is why they are always in demand in the market. Before you get started, find out what is profitable to trade during the 2021 crisis. Experts recommend offering consumers various souvenirs, figurines, inexpensive bedspreads and tablecloths, knitted items, etc. The most important thing is to develop your own unique style. In this case, you will definitely find buyers for your product.
The most promising directions
What business is better to open during a crisis? Before describing the selected areas, we present Rosstat data on the dynamics of development of several sectors of the economy in Russia in recent years. Even though this study is from 2021, the dynamics described continue to this day.
Dynamics of production growth in various sectors of the economy for 2011-2017. Source: Rosstat, RBC
Medicine
The pharmaceutical sector is in great demand during the current crisis; Despite the high competition, you can make good money here. The demand for medical care has increased: people are both simply stocking up on medications and actually getting treatment (and now there are even more nervous-related diseases).
- Online diagnostics. If you have sufficient skills and experience in the medical field, you can earn money from remote consultations and assistance.
- Sale of medicines:
- mandatory and preventive;
- homeopathy and dietary supplements;
- antiviral and antibacterial protection products;
- personal hygiene products;
- contraceptives;
- treatment kits with detailed instructions.
- Open a medical center with a diagnostic laboratory. But such a business requires sufficient capital and knowledge at the start. If you have finances, but lack sufficient experience, you can take advantage of franchising offers.
Resale of goods
If you are interested in trade, it is most profitable to open your own online store during a crisis. Before you get into this business, you need to figure out what to trade during the 2021 crisis. Start small, for example, by reselling goods from China. Experienced entrepreneurs recommend focusing on the best-selling products on the Internet during the crisis in 2021:
- Inexpensive shoes and clothes;
- Childen's goods;
- Hygiene items and household chemicals;
- Unusual gifts;
- Electronics and small household appliances.
You shouldn’t open a large online store right away. At the formation stage, offer customers 2-3 product names. If things go well, you can gradually expand the range.