Business Survival during and after COVID-19

~ By Funke Olushola

It is a sensitive season and people are going into or already in survival mode globally.

It will take a while for the economy to bounce back after all of this because most money-making avenues are on lockdown.

A lot of people have lost their jobs and more will still lose their jobs.

Presently, the food sector is booming because we must eat to survive but there are certain foods that people won’t consider.

Now, most people will go for those food items that can fill them faster and keep them full for long.

More often than not, these are starchy foods which is not so healthy but because we are currently trying to survive, it will suffice.The patronage for healthy drinks or vegetables may reduce or better still, people will start trying out recipes themselves.

Healthy food vendors can sell great recipes to people now even though there are some healthy foods that cannot be easily substituted so people will buy them rationally.

So if you want to stay active in business as a healthy food vendor after COVID 19, create recipes that cannot be easily found on Google, YouTube or replicated.

The Health sector will boom during and after COVID 19.

Telecommunication services will make money because people want to hear the latest news and happenings, keep in touch with people they can’t visit and also kill boredom.

Currently, YouTube is experiencing an enormous amount of views daily.
People are looking for the easiest way to survive by learning how to do loads of stuff themselves and trying to curb their spending habits.

After COVID 19, a lot of luxury businesses will experience serious drought in customer’s patronage because people will buy only the essentials.

People will be trying to save money thereby cutting off the middle man, going to get things themselves because they may get better and cheaper deals and may also find cheaper alternatives.As a smart business owner/entrepreneur, this is the time to start thinking on how to start creating packages for the lowest of the supply chain on your customer chain pyramid because most buyers at the premium stage will move down in order to survive.

You don’t need to reduce your quality, you can repackage and reduce the quantity.

You can also give them good options or alternatives so you don’t lose most of your customers.
If you are into manufacturing, now is the time to seek a place where you can sort your materials locally.
This will be the goldmine after this period because the cost of foreign exchange is skyrocketing and it’s taking a long time for goods to be shipped in or delivered.

After all said and done, be safe, wash your hands regularly with soap and water, use sanitizer and stay indoors for now.I know we will survive because the bouncing-back ability of an average Nigerian is amazing.

I love you all and I can’t wait to hear your testimonies after this phase.

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