{"id":2158,"date":"2020-10-22T13:01:20","date_gmt":"2020-10-22T13:01:20","guid":{"rendered":"http:\/\/michaelleander.me\/?p=2158"},"modified":"2021-09-30T10:19:27","modified_gmt":"2021-09-30T10:19:27","slug":"business-models-that-are-thriving-during-the-pandemic","status":"publish","type":"post","link":"https:\/\/michaelleander.me\/business-models-that-are-thriving-during-the-pandemic\/","title":{"rendered":"Business Models That Are Thriving During the Pandemic"},"content":{"rendered":"\n
For most of us, 2020 will go down as a year that was out of control. <\/p>\n\n\n\n
Everything we had come to expect from daily living was pretty much turned upside down as the pandemic swept the globe. <\/p>\n\n\n\n
Airline revenues went into freefall, vacation plans were thwarted by lockdowns and casinos suddenly closed and sent their hotel guests away. <\/p>\n\n\n\n
Our homes turned into a multi-functional space, serving as isolation ward, office and even multi-grade school. <\/p>\n\n\n\n
Amidst this sea of change businesses were flung about like uncertain ships in a tsunami wave. <\/p>\n\n\n\n
Employees were furloughed and once profitable enterprises had to close suddenly and declare bankruptcy. <\/p>\n\n\n\n
And yet, in the middle of it all, certain business models emerged to flourish even as chaos reigned. <\/p>\n\n\n\n
Savvy entrepreneurs retooled existing ventures or launched new products and services to take advantage of 2020’s new reality.<\/p>\n\n\n\n
One of the first thing that solo entrepreneurs and business owners needed to address was where to cut costs and generate extra cash. <\/p>\n\n\n\n
Fortunately, as the economy was affected by the pandemic, so were interest rates.<\/p>\n\n\n\n
Rates have now plummeted to near historic lows. By refinancing their student loans, entrepreneurs and owners have been able to dramatically cut their monthly payments<\/a>. <\/p>\n\n\n\n Existing student loans can be combined into a single, new loan at today’s great rates. <\/p>\n\n\n\n When refinancing, you can choose your own loan term. <\/p>\n\n\n\n Some lenders even have a client happiness team that can answer any questions and guide you through the refinancing process.<\/p>\n\n\n\n As people across the world have been buffeted by a sea of change, consumers are increasingly seeking things that bring them comfort. <\/p>\n\n\n\n Sales of bread machines skyrocketed and bread recipe searches on Google soared. <\/p>\n\n\n\n Enterprising cottage businesses began baking and delivering fresh, hot loaves of sourdough bread to bring in new revenues. <\/p>\n\n\n\n There is incredible opportunity for new, local players to step in and satisfy the desire for comfort during these times. <\/p>\n\n\n\n Offering kits for creating old-fashioned, home cooked meals would be a great opportunity for local cooks or restaurants still seeking to replace lost revenue.<\/p>\n\n\n\n Shopping used to be a fun, almost recreational, activity that so many people enjoyed. Now, it’s a risk factor and the fun of a leisurely shopping trip is long gone. <\/p>\n\n\n\n Going online and ordering items for delivery is now the new norm. <\/p>\n\n\n\n This once in a lifetime change has opened the door for new business<\/a> ventures. <\/p>\n\n\n\n Many areas don’t have delivery available, but really need the service. <\/p>\n\n\n\n Local ventures that offer contactless delivery for much needed items could really profit from everything going on now. <\/p>\n\n\n\n Shopping for the same product every week online is also incredibly boring. <\/p>\n\n\n\n Consumers crave variety now, more than ever. Offering artisan food products delivered at affordable prices would be a great moneymaker now.<\/p>\n\n\n\n That’s why many people are choosing to start an online shop<\/a>. <\/p>\n\n\n\n As the world we’ve come to know was simply swept away, we’ve seen humanity reach back in time for traditions and ways of being that mirror a simpler time. <\/p>\n\n\n\nConsumers Crave Comfort in These Uncertain Times<\/h2>\n\n\n\n
Delivery Is the New Shopping<\/h2>\n\n\n\n
A Return to Things We Can Count on in Life<\/h2>\n\n\n\n