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Smart Money, Smart People

What can I do to start a business during COVID-19?

29/07/20 02:37 PM / by Phinance

Tiempo de Lectura: 4 min

 

que negocio puede funcionar con covid

The world is experiencing a crisis due to the COVID-19 pandemic, and the problem extends to all areas. To prevent your finances from being affected, it's time to look for new opportunities and start your own business, one that you can work with during and after this contingency period.

We’ll give you some ideas that you can apply:

1. Delivery business

entrega comida

Electronic commerce and delivery are undoubtedly very useful during the period of sanitary contingency. It's very easy to start, you can even take advantage of online platforms such as Marketplace or some Facebook sales group.

Now more than ever, e-commerce is our best ally, as it has no service hours or mobility restrictions, unless you set your own limits or sell products that need immediate delivery, such as food.

Outside of the food industry there is a panorama that is still interesting. The future augurs an increase in remote consumption, we have already seen it with websites like Amazon that go beyond offering just lifestyle products, and allow to shop for groceries, clothes or even medicine. 

2. Invest in cryptocurrencies

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Have you ever heard of digital gold? Cryptocurrencies are an alternative type of currency that serves as real money, but the are completely virtual, this means, you will never have a physical cryptocoin in your hands.

Cryptocurrency was born as a means of payment for virtual transactions to and from anywhere in the world, but over time, many companies have begun to accept them as a payment method. With them you can buy anything from leisure objects to trips or educational courses, even real estate.

With the financial markets suffering, the cryptocurrency market may be a good option to invest, but taking part in this market requires analysis, reflection and perseverance to be successful. But do not worry about this, an informed and calm investor will know how to take advantage of the great opportunity offered by this virtual market.

What cryptocurrency is right for me?

Before the emergence of COVID-19, the value of Bitcoin exceeded $ 8,000, and although it has ups and downs, it is a strong cryptocurrency and it has a relatively constant value. It is also the best known cryptocurrency, so it can be an excellent option to start. Of course, its value is high, so if you do not have enough purchasing power, it may be better to try other currencies.

3. Invest in real estate

bienes raices inversion en crisis

As income indices around the world have plummeted in recent weeks, company executives, board members, and large shareholders take advantage of the situation to buy shares in their respective companies.

Why do they do it? They are making smart decisions that are based on taking opportunities, and following one of the three basic rules of investment in times of crisis: they put their perspectives on the long term and make investments to see future returns.

Investing is always risky, but even in times of crisis there are good opportunities, and real estate is among the least risky sectors. Being long-term investment assets, their profitability is high. To this, add that they're one of the few investment assets that also cover one of the most basic needs we have: a roof over our heads.

Currently, there are many opportunity properties that are well valued in dollars, and since the peso is going down, your money is worth more, they are an excellent opportunity!

4. Turn your hobbies and abilities into a business

habilidades linea cursos

We are all good at different things, and if you have a hobby that you perform well enough, you can sell it or make a business out of it. Of course, it is not enough just to have talent; it is important that you know how to transform it into a successful business.

Teach online

In an act of solidarity, many platforms have called on professionals to join in creating educational courses at all levels. These courses become valuable tools for contingency and quarantine times, but they can survive even after this pandemic and become excellent business.

Make art, draw, dance, sing; Or even teaching the basics of home or electronics repair can become a business if you do it smart. For that, we’ll recommend you to take into account:

  • Be clear how much your product is worth.
  • Get ready to spend most of your time on tasks you don't like. No matter what business it is, everyone needs to spend time solving bureaucratic and financial issues.
  • Make your presence known. Social media is the key to reaching your audience, so you have to show what you do and let potential customers see how you work.
  • You need a business plan. Making trading strategies will help you grow.

We know there is a big crisis, but the worst thing you can do is stay still and wait. Start a business or invest your money in something that will keep you going!

If you have questions, we can answer them, and if you want to keep up to date with the latest information on investment and finance, don't forget to subscribe to our blog.

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Topics: Inversión, Finanzas,

Phinance

Publicado por Phinance