The nature of markets is such that, after any crisis, there is growth due to the so-called “deferred demand”. At the same time, one should not forget that hardly every business will survive during a crisis.
And we don't mean the strongest, but the one that manages to adapt to changes. But until the crisis is over, we can learn and benefit from it.
How to adapt to changes
Under quarantine conditions during the COVID-19 pandemic, many business areas suffer losses, or entrepreneurs have to close their business. But there are ways to adapt to changes. For example, many are actively transferring the offline business to the online mode. When all people stay home and order delivery, there is an opportunity to even increase sales and profits. For example, if a restaurant does not accept visitors during the quarantine period, it would be wise to arrange food delivery throughout the city.
In general, in the context of the COVID-19 pandemic, online business turned out to be more resistant to the crisis, since it is not tied to the premises and does not require physical presence of customers. That is, the customers used to order online and keep doing it. The same can be said about the business in telecommunications. People used to call and do call, and there are much more calls during the quarantine period. This is to GSM operators’ benefit, as well as to the benefit of entrepreneurs working in VoIP GSM termination business (owners of GSM gateways that perform the functions of a telecom operator and make money on it).
Therefore, if your offline business crashed due to quarantine, you can transfer it online or start a business in another area, for example, in telecommunications. GSM termination is a crisis resistant business. With minimal investment, you will always have a stable income in dollars and will not depend on the global financial situation and fluctuations in local currencies.
3 main benefits of the crisis
It is believed that the crisis is a black line for business, but, despite the negative consequences, you can find the pros in it:
- It is an opportunity to get excellent professionals on favorable terms.
- Lower prices for some services that the company uses.
- Lower rental prices.
In a panic, many companies drastically cut their staff or significantly reduce salaries. In such a situation, good professionals immediately start looking for another job, the labor market is saturated, and this can be used to your benefit. The crisis provides an opportunity to get valuable employees and at the same time pay them less than before the crisis.
Demand falls on some services during the crisis, and as a result, they become cheaper. These include, for example, marketing and business training. This also can and should be used for business.
During quarantine, the real estate rental market sags significantly. Many move out of offices and apartments, and landlords lower the prices. For business, this is a big benefit, including for businesses in the field of GSM termination business (you need to rent a room to accommodate GSM gateways).
Remember, the crisis does not drown those who can swim. You have a choice, to run with the wind or make big money even in times of crisis.
If you choose the second option, we will help you start a profitable business and manage it online from anywhere in the world. Please leave your application for a free consultation.