2020 surprised everyone - financial investors, microbusinesses, the largest players in the aviation, travel and hotel industries. It is difficult to find industries that were not hit by the sudden attack of the epidemic. Of course, there are such industries - paradoxically, this unique situation turned out to be a great opportunity for business development. Interested?
Read on! We have prepared for you some examples of investments in industries that are stable and safe in these difficult times.
How to invest during the COVID-19 epidemic
In the era of social distancing, wearing face masks, all people care about their health for most of the day.
1. The year 2020 turned out to be a breakthrough in the field of telemedicine. Huge amounts of software and features have been developed, which allowed for the simplification of the entire procedure related to an online visit to the doctor.
2. Another world case where an epidemic has contributed to the development of some industry is video conferencing. This industry has almost exploded, all existing solutions have been expanded or redesigned. It means something.
Another case that turned out to be quite popular in most countries of Central and Western Europe, Scandinavian countries as well as the US and Canada - food for delivery and parcel delivery.
Not everyone has suffered more, some have built powerful businesses, so there are specific industries that are worth investing in. Okay, but how to invest in what?
Invest indirectly in human resources in the IT industry
Probably the first idea that came to your mind is to build a mobile application that will allow you to deliver parcels, facilitate telemedicine or be associated with e-commerce. It's a great idea, but not entirely. Note that building a business based on one product or one service can be very difficult these days. Often, the competition, depending on the market, is flexible and can quickly implement your "unique value proposition" in the form of a new feature.
It sounds brutal, but it doesn't have to be. Because of one thing that can't be "yet" copied. Highly specialized developers and engineers. Investing in a team of people who would be able to create solutions for you in mobile or web form - this is a song of the future.
Is creating a development team difficult? No.
Is it expensive? It depends.
Does it take a long time to create? No.
Do I need technical knowledge to build a development team? No.
Invest in your business, it's simple.
Do you want to close the year with a great financial result, but have no idea how to continue this idea in 2021? The fact is that the market is extremely volatile, but the ability to adapt to its volatility is still an underestimated feature.
What else can you do besides invest in a human resource? Invest in your business, analyze processes and automate them. How about an RPA (Robotic Process Automation) or AI (Artificial Intelligence) implementation? It was the concepts that stopped being buzzwords and started a real race. Automating activities, giving up manual work and replacing them with machine learning is a real breakthrough that has been going on for many years.
As long as you stay informed, existing customers will stay with you. Reach out to future customers - implement chat bots, automate the activities of your employees, simplify processes. This is the best investment opportunity.
Secure your business
You probably remember 2019 and the huge data leaks, conferences that lasted for days on Facebook and how it protects data. Today, the eyes of all Internet users are focused on the GDPR and almost related to security. Companies that care about the security of data storage receive a huge plus from their clients.
Extend your remote work
In countries such as Switzerland, the number of employees who started working remotely has doubled. The statistics speak for themselves. Remote work will become standard. This is the right time to invest resources in creating a completely new ecosystem for your employees and clients, so that they can work remotely, exchange knowledge and benefit from it both.
If, as an employer, you additionally take care of the possibility of employee education via a remote platform - you set yourself up for a winning position and stay ahead of the competition.
Increase transparency, react to changes
As long as all the actions you take while you run your business are transparent, clear and informal, you'll be able to keep your business in check and grow even in situations like COVID-19. By improving your visibility on the Internet and showing your transparency - you build trust and a sense of security. Thanks to this, you will build a great foundation for a business that will be very difficult to destroy. Reacting to changes, i.e. making any nod to the client, is making an investment.