We think we are done with the pandemic, but the pandemic is not done with us. Even though the world is gradually progressing back to being normal, the repercussions of COVID-19 persist. The most problematic obstacle put forward by the pandemic was joblessness. Millions of people lost their jobs due to their organizations being out of service. This might seem like a difficult time to start your own thing, considering how many big businesses reached bankruptcy recently.
However, it is still worth giving a try. Every business starts small. Of course, there’s a great amount of risk involved, but nothing good has ever been achieved through shutting your eyes due to fear. Every successful person has at some point taken a risk that is bearing fruit now. As per the CEO of Facebook, Mark Zuckerberg, “The biggest risk is not taking any risk.”
In this challenging time, the way forward for potential business owners is to identify a gap in the market, perceive it as an opportunity, and turn it into a business. Other options include pursuing an MBA degree. It prepares you for real-life situations in the market, whether you’re looking for a job or planning to work on your startup.
The biggest roadblock with MBA degrees is that you’re already working and need the money at any cost. Another hurdle in your way could be GMAT preparation. If any of these complications hinder you from pursuing an MBA degree, you should check out the AACSB online MBA no GMAT program. Online MBAs allow you to work and study with a flexible schedule from the comfort of your home or workplace. Plus, such a degree will give you a much-needed boost in your business, as ‘business’ has become the most important field of 2021. Read on to know why:
- Recovering Lost Jobs
Millions of people lost their jobs globally due to Covid-19, even though many of them could perform well. However, performance will do you no good if you don’t have a company to work for. It’s why people have started investing their performance in business instead of job hunting. What you have to do is think of a pandemic proof idea and put it into practice. This way, you can also find some experienced and talented people for your business and help recover some jobs too.
- Discovering Inner Talents
The pandemic has led many people to develop new talents, which they are now using to make money. All you need to do is develop a product or service that you think fits well with the demands of consumers and adds value to the market. Open a home-based bakery or an online pizzeria. Start hosting online yoga classes. Give everything a try; what is there to lose?
- Business Innovated To Help The World Cope
Business innovation in the year 2020 helped people cope as well. New businesses opened up; people started selling face masks, sanitizers, disinfectants, homemade brownies, comfortable clothing, and basically anything that sells. Big pharmaceutical businesses had to overproduce to meet the demands. Clothing brands started producing outfit-friendly face masks to contribute to the new normal.
- Reduction of Business Costs
2021 is the 4th industrial revolution in history, considering the popularity of online businesses and digital marketing. You won’t need an office setup to inaugurate and run your business this year. You can hire freelancers or people who are willing to work from home. It will save you from in-house utility expenses. There is no limit on how much money you earn through a business. Expand your network, pitch more sales, keep up with the quality, and voila! You’re a millionaire. Well, not exactly a millionaire, but you’ll get there eventually, one step at a time. But now is this the right time to make more money than one usually would’ve made.
- Using Social Media To Boost Engagement
Low-cost businesses are a great way to eliminate risk. Social media is perhaps the greatest invention of mankind for the purpose of marketing. It’s cost-effective and even reaches a wider audience. A survey depicts that people started spending more time on the internet during quarantine. Consequently, more people started paying attention to online advertisements. This fact has paved the way for businesses to expand their reach.
With constant uncertainty surrounding us, it’s best to diversify our career choices and explore more options. Starting a business is a risk every individual should take at least once in their life. If they fail, it’s something to learn from. If they succeed, well, that’s the goal, right? In both ways, you at least won’t have to regret not trying. As a result of the 2020 disaster, ‘business’ has become one of the most prominent industries in the world, which is a good signal for you to launch your business this year.
*Photos by Ketut Subiyanto