Welcome to my new IGTV / YouTube collaboration. This is a very difficult time. Every country is struggling to control the spread of Covid-19, and many families have lost their loved ones as a result of the pandemic. And for those who make it, there is a very difficult road to recovery ahead.
Every world economy has taken a huge hit, and governments are basically printing money just to keep things going. Every country is going to be in debt to the tune of trillions of dollars. Many thousands of jobs have been lost, and even the biggest companies are on the brink of bankruptcy. What about small businesses? With most forced to close as a result of the lockdowns, many are likely to not make it through to the other side. On a positive note, I believe that there are going to be a lot of opportunities that arise for those that are savvy enough to survive the pandemic. I believe that the playing field will be much more level than it has been for years- if you're prepared to put in the work in the coming months.
What sort of work are we talking about? Marketing and branding. Not trying to get folks to buy stuff right now, because nobody is (buying). We are all protecting out cash as much as we can because the rainy day is here. Nobody is buying extravagantly at the moment, and to try to go against the tide, is a quick way to self-destruction.
One must develop efficiency to weather this storm, and at the same time, develop strategies to take advantage of the rebound which may come at the end of the pandemic. I feel that the rebound will not be immediate, because of two factors. Firstly, it will take the average family a long time to regain confidence in the world (eg. flying, going to restaurants safely, without the fear of catching corona every time someone coughs), and second, it will take time for us to rebuild our savings that will be lost during this time as we have no income during the lockdown.
In this episode, I talk specifically about the difficulties of keeping a fitness instruction business alive, and what could be done to prepare for the influx of potential clients when it is safe for everybody to return to the gym. I hope you find this informative and helpful, and I look forward to bringing you new episodes in the near future.
In the meantime, stay safe. It's still important to work hard and hustle during this tough time.