Since the threat of the COVID-19 pandemic started early this year, we have been forced to adjust to new routines, or as they say, the “new normal.” Everything that we were so used to doing has been dramatically affected, our ability to report to our offices and earn a living especially. News reports show that in the US alone, 20.6 million people have lost their jobs. The unemployment rate is now at 14.7%, which is a significant rise that we have not seen for a very long time.
These are indeed trying times, and everyone’s doing their best to adjust. Many people, in order to regain a source of income, have looked for new ways to earn money. If you noticed, there has been a surge of “quarantine entrepreneurs” lately, which refer to people who have started their own business at home while on isolation.
Thanks to the advent of technology and the Internet, there are a lot of business opportunities we can tap into during this time. If you’re thinking about starting your own business amidst the new normal, here are some ideas.
The e-commerce industry, namely buying and selling in online platforms, has seen tremendous growth over the years. Statistics tell us to expect a 265% growth rate in 2021. Those numbers are proof that there is a viable opportunity in the industry that we can explore.
The easiest way to go about it is by buying in bulk and selling these products individually in e-commerce platforms. All you need is a supplier and a courier service to send your products to buyers. This is a great business concept that you can start and manage in the comfort of your home.
Sell DIY crafts
If you’re fond of DIY projects and consider handicrafts as a hobby, you are presented with the opportunity to turn your hobby into a money-making business. Especially with the increased awareness of local talents and manufacturers, more and more people are choosing to purchase home-made products rather than commercial ones.
But it’s still important to figure out what the market wants. Indoor plants seem to be a trending topic nowadays, so creating DIY pots might be a good idea. Other options are candles, jewelry, artworks, food, clothing, etc. The possibilities are almost limitless and there are tons of DIY tutorials you can access online to learn how to create these crafts.
Sell your services
Almost any profession now can be practiced online. It’s easy to communicate with people and coordinate on tasks even if you’re miles apart. That’s proven by the prevalence of freelancers and remote employees. A lot of employers are looking for talents who can work on projects with them purely through online communication.
The best part about this is that you don’t need to store any products or manage an inventory. You already possess everything you need to start a personal service business. Whether you’re a writer, creative designer, marketing expert, etc., there are remote job opportunities available for you.
Do you want to make money taking photos or videos and posting them on social media sites? Well, thanks to influencer marketing, you can. Content creators like social media influencers, bloggers, and YouTube celebrities can monetize their content as long as they have a sizable online audience. You can reach out to businesses and offer to market their products for a fee. Or you can try out affiliate marketing where you get a percentage for every product sold through your content.
Technology has introduced a lot of opportunities for businesses and individuals alike. Thanks to several online platforms, we are now able to stay at home and make money at the same time. It’s definitely something that can be of benefit to us in the new normal.