Worried about the coronavirus outbreak? You’re not alone. Many people are uncertain about what’s to come. It has led to bankruptcy and global unemployment. It is changing the way society operates. Until now, we’ve never had a pandemic this bad.
As a result, many people are gaining awareness about the imminent change taking place. You yourself may have noticed that times are changing. Opportunities for making profit are more prevalent than ever. It has gained worldwide popularity.
Video-chatting with someone in a foreign country used to take hours. Today, it takes seconds. This is due to changes in technology, which affect our daily existence.
Technology has changed the way society operates. Information is more abundant than ever. You can retrieve it with just a click of a button. As technology continues to evolve, it creates more possibilities. However, the most impactful technology-induced change is yet to come. When it does, it will change society at large.
This change will hurt workers with low-value skillsets. These are skills that can be replaced by technology. Some examples include positions such as waiters, cashiers, and even nurses. As technology advances further, these jobs will become extinct. They’ll be replaced by more efficient robots and AI.
The coronavirus outbreak has opened our eyes to a humiliating truth: the human race is not as powerful as we believe. The pandemic that shut down the world shows us just how vulnerable we truly are.
But like all things, the coronavirus outbreak will come to an end. The question is, what will happen to us once it does?
The Perfect Storm No One Saw Coming
The coronavirus outbreak has had a huge impact on the way society operates. To prevent the spread of the virus, countries around the world turned to lock downs. They put up rules to limit human contact. Without customers to give businesses money, many businesses have gone bankrupt. Even more employees have been fired.
As a result, everyone is having a tough time. Our job economy is no longer the way it used to be. Traditional 9-5 jobs are at risk due to accumulation of layoffs. Companies no longer seek employees: they seek people with the skills to solve problems. Employees only add to a company’s expenses. And during a pandemic, the first thing business owner’s do is cut costs.
Our current economy is a gig economy. A gig economy is one where businesses seek out individuals with wanted skills. These are skills that provide value to the marketplace in exchange for money. Some examples of desirable skills are closing, speaking, and copywriting. Those who have these skills are in high demand. They can use these skills to help others.
Most of these people work online. Because they work from home, they are not at risk of the coronavirus outbreak and have a stable source of income. They are not affected by a global recession. They can continue making money no matter what happens. As a result, they have income security. It is not like a job which you can get fired from. You cannot lose your skills.
The coronavirus added to the existing economic problems such as inflation and debt. As a result, we ended up caught in a perfect storm. For some people, however, this storm is full of opportunities.Our previous job economy has now transitioned into a gig economy. Click To Tweet
The Hidden Opportunity Within Any Danger
Whenever there is danger, there are opportunities. Successful people understand this. They know that chaos always brings new ways to prosper. As a result, they are always on the lookout. They know they will see opportunities others do not. They do not let their fears control their judgement. They think, and use their brains. This allows them to prosper while everyone else is busy worrying.
Many people are taking advantage of the pandemic. They saw the needs of the marketplace and turned them into their advantage. Some people bought all the soap from their local stores. They then sold them on Amazon. These people made a huge profit. They preyed on other people’s needs. This is only possible because of the coronavirus outbreak.
Many people panicked upon hearing about the coronavirus outbreak. Cleaning products, medical masks, plastic gloves, and sanitary products sold out. This created high demand, as everyone became paranoid about keeping clean. To lessen their chances at getting in contact with the virus, they used everything they could.
Others took the opportunity to open up online businesses. The lockdown led to an influx of online activity. This is because quarantined people spent more time browsing the internet. Companies began to invest in ads to drive this increase in traffic toward their products. As a result, they were able to profit from the coronavirus outbreak.
The coronavirus outbreak made many traditional 9-5 jobs unreliable. Many employees found themselves laid off as a result of the business owner’s attempt to cut expenses. With the decrease of physical interaction, many small and medium businesses went bankrupt.
A Recession Proof Business vs. A Pandemic Proof Business
Many business owners are starting to become worried. They realize how economic depression could harm their business. Many are now thinking of ways to recession-proof their businesses. But they do not realize an important fact. A recession-proof business or skill is not pandemic proof.
Consider this popular joke about bars: When the economy is good, people will go to the bar for a drink. When the economy is bad, people will go to the bar for two drinks. This is an example of a recession-proof business. It is able to profit during good and bad economic times alike.
But, bars are not pandemic-proof. People aren’t allowed to go outside during a pandemic. Bars need physical customers inside their stores. Thus, a lack of customers will result in bad times. To become pandemic-proof, businesses need some way to connect with their customers. This is why many businesses are going online.
This is where the ability to work from home becomes an advantage. What was once seen as a luxury or privilege is now a necessity. The inability to work from home means you will likely not generate income. And during times of crisis, this is the worst position to be in.A strong business model profits in both good and bad times. Click To Tweet
The Future of Your Business Relies On Adaptation
Let’s assume the coronavirus outbreak ends tomorrow. Most people would think everything to be fine. However, they would fail to realize that the same problem could re-appear. They think there’s no need to pandemic proof their business because it’s over. But that is far from the truth. In the future, there could be another pandemic. Not taking action now means incurring the consequences later on.
As a business owner, you need to think. What are you doing in the present to prevent such issues? Otherwise, your business will remain vulnerable to future pandemic outbreaks.
Most people think that the pandemic will last a short while. And that after the pandemic, things will quickly return to normal. In reality, it will take much longer – research suggests about 2-4 years. You will want to be careful during the next 2-4 years.
There’s one way to pandemic-proof your business. That is to create your own economy. The global economy can be affected by pandemic outbreaks and similar problems. But, as a business owner, you can prevent it from affecting your business. This is possible by restructuring your business. Plan out what the future looks like to prepare for what’s coming.
The transition from a job economy to a gig economy deeply affects businesses. These are businesses such as retail stores, restaurants and shops inside of malls. These kinds of businesses are at the highest risk of failure. If their shops close down, they are gone for good. There is a little possibility they will be able to re-open. Once they disappear, job opportunities will disappear as well. Jobs that rely on physical interactions will slowly vanish as well.
Making It Through The Coronavirus Outbreak – What’s Next?
Let’s imagine you are a lucky business owner. Your business survived the coronavirus outbreak. You have undergone a hellish time, but you’re still around. Do you think you will make changes in the future, or will your business continue to operate the same way? You will most likely change in order to prevent the similar from occurring in the future.
This means you will need a different type of employee. You will no longer seek someone for a relatively simple task. Tasks such as watching your shop or collecting money. Instead, you will need people who are knowledgeable about the online world. You will need skilled employees.
This will widen the gap in the marketplace. If you do not have technical skills, you will not be needed. You will be replaced by people who do have them. What’s important to note is that this gap has always existed. There has always been a need for people with technical skills in the marketplace. But due to the coronavirus outbreak, this need has increased.
For example, Uber realized that human drivers can carry diseases and viruses. So, they spent $1.4 billion on AI for self-driving cars. Uber realized that automated robots won’t make a pandemic worse. But humans will.
People with high-value skill sets are in high demand. They have the skills to service these industries. They are in the best position to take advantage of the current marketplace. If business owners want to stay in business, they’ll need to know how to use technology.
Low Value Skill Sets Are At The Highest Risk
People with low-value skill sets are at the highest risk of getting fired. As a result, many of them are worried about the future. They realize that businesses are making the shift toward automation, robots, and technology. Unless they’re able to adapt to this change, they won’t be able to find work.
But, not knowing anything about the online business world is okay. It doesn’t mean you will die. There are certain skills that will be relevant even after the coronavirus outbreak. These are known as high-value skill sets, which cannot be replaced by technology.
Take, for example, an interesting scenario Sifu witnessed while he was visiting a casino in Vegas. On one side of the room, there was a bartender serving customers their drinks. There were only two customers. On the other side of the room, there was a robotic arm serving a crowd of 30 people. Many of them had their phones out, and were taking selfies.
As the owner of this casino, who would you prefer to have in a crisis? Who doesn’t need tips? Who doesn’t call in sick? Who will get your order right every single time? Who can work 24/7 without a break? And who is more popular to the audience? This point illustrates how fast robots are taking over the job industry. People with low-value skill sets are at a great risk of being replaced by a machine. Unaware of this fact, they will have difficulty finding a job after the pandemic.
Employees beware: If a robot can do your job, you will not have a job for much longer. Click To Tweet
How To Create A Pandemic-Proof Business Model
A pandemic-proof business model is one that does not rely on human workers. Humans can contract diseases and infect one another. But robots cannot. As a result, using robots in your business gives you an advantage. To create a pandemic-proof business model, automate your business process.
For example, Alibaba’s “hotel of the future” runs almost entirely off robots. Nearly everything is run by robots. Guests check into the hotel using their phone. Rooms use face scanners to let people in and out. Robots serve food, toiletries and sundries. As a result, there is no risk of a pandemic impacting their business.
The coronavirus outbreak has made business owners worried about cleanliness. In the future, it is very likely that many other businesses will follow Alibaba’s example. Franchises such as McDonald’s are shifting toward an automated business model. Replacing human workers with robots will benefit their businesses. This will cut costs and increase efficiency.
Automating your business is one way to create your own ‘economy’. Even if things look bad externally, your business won’t be affected. This is because you have a pandemic-proof business model. As there is no risk of infection, your business is not affected by a coronavirus outbreak. This is because all your employees are robots.
A pandemic-proof business model can continue operations even during a pandemic. By automating your business model, you can keep prospering during a crisis.
The Future After The Coronavirus Outbreak
The coronavirus outbreak will change careers and lives for the foreseeable future. More business owners see the advantages of having an automated business model. Compared to humans, robots are more effective in every way. They do not contract diseases. They can work without a break. And will work to pandemic-proof your business.
People with low-value skill sets will find themselves replaced by technology. More businesses are shifting toward an online presence. This means the current marketplace will become divided. The need for individuals with technological skills will increase. People with low-value skill sets will find it difficult to get a job. And this need will further support the fact that we are in a gig economy.
Most people want to achieve financial freedom. For many, financial freedom means sitting on a beach, sipping a cocktail, and relaxing. In reality, financial freedom is nothing more than an illusion. It does not exist.
What most people actually want is financial confidence. Financial confidence is knowing you can generate an income no matter what happens. You can keep accumulating wealth regardless of a pandemic, virus, or disease.
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People start businesses because they know they cannot rely on having money in the bank. Current economic issues such as debt and inflation lower the value of money. Having a lot of cash does not make you rich. It makes you susceptible to inflation. Instead, possessing the skills to create a lot of wealth is what makes you rich.
This is why successful people invest in themselves. They don’t mind spending money to learn valuable skills. For example, a book on finance may cost $20. But, the lessons you learn can generate much more in return. If the strategies in the book generate you $1,000, you make money from purchasing the book.
Poor people do not think this way. They save money and reduce spending as much as possible. But, this is counter-intuitive to achieving wealth. To make money, you must spend money. You cannot get rich by saving pennies and dimes. Saving will never make you rich, it will only make you miserable.
Successful people understand that knowledge is more valuable than money. When you have the knowledge, you never have to worry about going hungry. You can create wealth regardless of whatever situation you find yourself in. If you want to learn how to become financially confident, get our best-selling book Unlock It now.