COVID 19 is a big deal.
We all feel it, and it is just starting. It is going to get a lot worse.
With all the grief and fear, we need to get out stuff together, and find a strategy to navigate our business in these hard times.
The good news I want to share with you, is that such a major event will offer plenty of opportunities for our businesses. I will show those opportunities.
Like in any situation, first thing is to gather information and asses what is ahead of us.
at the stock market
Roughly, 30% lost in one month.
Will it get better?
Yes, but not before it will get a lot worse.
Here are the numbers of active Corona cases and deaths
Look at these curves. This is not getting any better. This is just starting!
We don’t know what will be the final numbers. But it seems that a big part of our population will get the virus this time or another. The market will suffer during this time.
It will end! This is not the end of the world.
The virus only kills small percentage of the population. If you look at countries that test more of the population, like South Korea and Germany, you see that the mortality rate is around 0.61%. Ignore the rates from Italy and US, they are simply because of lack of testing. See the chart from Time Magazine:
So, with all the sadness, more than 99% of population will survive, and the market will go up again!
It is just a matter of time until this happens.
You should adjust your business to these difficult times and prepare for opportunities that will arise from the horrible situation.
Don’t get scared. Act on time and you’ll go out of this stronger than ever. Let me show you how.
The goal is to cut efforts that won’t work in these times and to increase the efforts that will produce assets. Those assets will yield profits when this situation ends.
In short, we will cut down on anything that serves us in the short term and focus on the long term. We give up trying to earn in the short term, and we want to build our position for the good days to come.
First, let’s see what activities we can decrease now.
Remember this is only temporary.
Here are some ideas that can work to reduce your monthly spend and efforts:
OK, now that you have cut down on those efforts, let’s see our opportunities in this time.
You should now have more time and hopefully more money if you found how to cut things.
Now, we want to concentrate on building our business for the days to come.
Like a captain of a sailboat, we are preparing for the wind that will come. The wind is the economic recovery that will happen once this COVID 19 ends. Currently, we don’t have any wind, so we take down our sail and improve it. It might look like nothing happens now, but once our sail is ready, and the wind comes it will take us faster than ever. I hope the metaphor makes sense; I tried my best.
We need to focus on building assets. You might find them useless today, but they will serve you in the future.
SEO is the perfect asset for your business. If you build it now, you’ll promote yourself in the rankings and when the economy improves, you’ll get the business you deserve.
Here are a few examples of assets I suggest. I will focus on SEO here:
I said these are opportunities now because the slow market should make things cheaper.
Don’t feel bad about exploiting the situation to your favour. Even if you are paying half of the normal price, you still help people get paid in tough times.
Rough times are great for business.
Sounds weird right?
But smart people always did that.
Warren Buffet said, “A simple rule dictates my buying: Be fearful when others are greedy and be greedy when others are fearful”. See here: https://www.cnbc.com/2018/09/14/warren-buffetts-rule-for-investing-during-the-financial-crisis.html
In 2008, in the credit crisis, he bought tons of stocks!
If you invested $1,000 in Apple in early August 2008, it would have been worth more than $26,000 as of Jan 17, 2020.
Corporations like Blackstone used the 2008 crisis to buy thousands of properties worldwide.
If you’re like me, some of our assets are online, and this is a great time to invest!
These are my thoughts, what do you think?