While we are getting used to a new "normal", we still need to learn how to pivot and adapt to the challenges coming ahead
Claudia S. Herrmann
CHF Consulting Group, LLC
October 2021
The Covid-19 pandemic has forced all of us to change our lives, to do things differently. While some people considered the 2020 lockdown as a great opportunity to start a new project, whether it’s a new business, taking up gardening, learning to cook, writing a book, etc., the majority of people still run around in their homes discombobulated from working non-stop, non-productive routines, bored stiff, going blind from binge-watching Netflix series, anxious about what's going to happen next, and hoping that the pandemic will just go away.
If you think that the economic downturn, the increase in prices and the supply chain problems caused by the pandemic will disappear anytime soon? Think again! It is true that we are now able to resume our pre-Covid-19 life, but we can all agree that it is nothing like life in 2019 and before. In the meantime, more people continue to walk out from their jobs, millions of jobs will continue to be lost, and many will not return.
Are you aware that you can create wealth even during these times of turmoil? You bet! This is an exciting time to start a new business, to monetize your hobbies and passions. Even traditional businesses can be effectively married with technology. Think of a bakery that can establish a strong online presence and deliver small-sized cakes, breads, and cookies to their clients’ doorsteps. You need to change your beliefs, change your environment, and take action. Remember that your ability to start a new business starts with your mindset, your belief in yourself. You need to start by making changes within yourself. Here’s what you need to do:
Be proactive
Don’t cross your arms thinking that better times will just materialize. Don’t let your financial and personal wellbeing in the hands of others or leave it to variables that you can’t control. But it is you who needs to make it happen. Write a business plan for your life and then one for your new endeavor.
Innovate
The new "normal" (or rather "abnormal") is forcing us to pivot and adapt in previously unimaginable ways, so it’s likely that what you have been doing until 2019 probably doesn’t work anymore or won’t work as well as it used to. Technology is your greatest ally, use it to assist you in your new endeavor. (See Web Solutions | CHF Consulting Group)
Tell your ego to take a hike and open your mind to new possibilities and do new things that you hadn’t even considered before. Set your fears aside, tell yourself that you can do it. Write down your best attributes in sticky pads and leave them on your refrigerator, on your bathroom mirror, by your bedside table. Throughout the day, repeat to yourself: “I am enough”, “I am powerful” (motivated, creative, organized – name your great attributes). This is something that I have done over the years, especially when I start plaguing myself with self-doubt.
Learn, learn, learn! In today’s world it’s amazingly easy to acquire valuable knowledge with little or no money. Think of all the online training you can get at websites such as Coursera, Udemy, Alison, and even from videos posted on YouTube. Uncle Google is your best ally in finding those information resources you need for your new endeavor.
Research about your new business
Almost all human activities can be monetized. Human creativity is virtually limitless. There’s a good chance that somebody has come up with the same idea as you have, or something close to it. Do your homework and learn what others have done. Compare your ideas to others’ existing businesses (do your benchmarking), write down what you would improve if it were your business, write your business plan, get a mentor, and closely review your resources. Think big but start small. If you’re rightfully concerned that mistakes can be very costly, look for a more structured alternative to start your business. Franchises and MLM businesses are particularly good options, as they take much of the risk of committing errors out of the equation. Franchises offer a more elaborate structure but are pricier. If you consider becoming a distributor of an MLM company, make sure it’s a reputable company with excellent products and a solid educational system to support you.