Throughout this significant time of the Covid-19 pandemic, a lot of people were or are scared, businesses are suffering and shutting their doors. This is not what any of us really expected to happen in 2020, but there is a silver lining.
I don't mean to minimize the effects of those who are at-risk, and I understand the gravity of the situation for many people, however, this is an incredible time to start a business or retool your business!
It is hard to imagine at times, but this is a gift to add new options and lean out your production and processes. You may stumble upon your next great success. For example, there is a local company to me that does commercial window-cleaning. Well, their business dropped off significantly, but the owner refused to lay anyone off, so he innovated. He started offering his employees to do personal shopping for at-risk individuals. And his business has thrived during this time rather than laying everyone off.
Another local entrepreneur does event production and all of his work disappeared nearly overnight. He started offering podcast production services and movie nights for family gatherings. He pivoted.
What about the starts that can happen now? Uber, Airbnb, Slack, and Venmo are all companies that started during the last recession. NOW is a great time to start your business if you have been sitting on the sidelines wondering when the right time is. If you can build a business now, you can keep it lean through the next recession, whereas if you start in times of plenty, times like these will hurt worse.
Look for the positive, you can always find the silver lining!
Trent V. Bray