Post-Coronavirus Business and Career thread

I hope this thread won't be taken to be in bad taste, but I feel like we as a forum, should try to be ahead of the curve.

With this thread, I hope that we can have a discussion about what the impact of coronavirus will be on the future job and businessmarket, so that forum members can plan accordingly.

This thread is dedicated to discussion and analysis of the impact on sectors of business and larger discussions of job and careers, that will see a change after the crisis.
 

ilostabet

Kingfisher
I'm starting to think threads about coronavirus pop up at an even faster rate than cases :D

Now, seriously, this is a good thread idea.

I think everyone should now be thinking about growing their own food as much as possible, as we'll probably see further disruption to supplies and price increases for stuff you can easily grow at home. Some stuff it's already insane to not grow given the relatively high prices, like herbs - these ensure that even if your supply is low, your food won't be bland, they are easy to grow and they don't take a lot of space.

The site I buy my seeds from is currently shutdown for two days because of the huge increase in demand, so I think at least a few people are already taking it seriously.
 

monsquid

Woodpecker
Thanks for starting this thread. Something I've been thinking about for a while actually. I want to escape the West post Covid, America specifically.

I know I'm going to take a massive hit in income but willing to accept it if I can start a family and a live a healthier life. Question, is Asia out of the picture?
 
ilostabet said:
I think everyone should now be thinking about growing their own food as much as possible, as we'll probably see further disruption to supplies and price increases for stuff you can easily grow at home. Some stuff it's already insane to not grow given the relatively high prices, like herbs - these ensure that even if your supply is low, your food won't be bland, they are easy to grow and they don't take a lot of space.

The site I buy my seeds from is currently shutdown for two days because of the huge increase in demand, so I think at least a few people are already taking it seriously.
I think that's a great idea, for personal reasons and financial reasons. Home gardening and rooftop gardening and balcony gardening is definitely going to be a big thing. I also think such a career move would be very satisfying for the soul. Making things grow and helping others make things grow.

Youtube channels, webshops, courses irl that teach people to farm etc. There are tons of spinoffs as well, making various homecooked, fermented, salted products. The "mommy bloggers" are going to have a golden era.

I agree with you, this is a niche that is going to explode. I am sure it will be huge and now is the time to act on it.
 
monsquid said:
Thanks for starting this thread. Something I've been thinking about for a while actually. I want to escape the West post Covid, America specifically.

I know I'm going to take a massive hit in income but willing to accept it if I can start a family and a live a healthier life. Question, is Asia out of the picture?
I don't want to negative, but I think anti-western sentiment will explode in Asia.

What we can hope for, is that we can make our own countries more like Asia. This could be the shock that changes things. At least that's what I hope for.
 

rainy

Woodpecker
Study who still has a job when everything non essential is shut down. Study whose companies are not effected by this crisis. Study which industries will get hammered, such as those dependent on importing from China. Then attempt to adjust to a different climate going forward.

A few industries who will still do well are in skilled trade. Plumbers and electricians will still be getting a lot of service calls. As someone who deals with a lot of skilled subcontractors, it's a hidden gem in regards to stability. Bullet point which types of services homes absolutely need.

Case and point. I know someone who once slaved away on Wall St as an analyst. Was miserable. Quit and started an irrigation company, an industry he had spent some time in as a teen. Fast forward a number of years and he has a client base of 1,400 and clears 500K+ net income himself per year. His management now handles day to day operations while he mostly just looks and closes on new business.

Outdoor lighting and irrigation. Homes and commercial businesses will always need his services. Commercial businesses sign 20-30K/yr contracts with him like clockwork. He is exempt from the stay at home order currently in place as a skilled trade.

In my opinion too many have tried to gravitate towards the comfort of working at home. It's the easy way out and carries more risk much of the time. If you learn a skilled trade and build up a client list which is dependent on you year after year, as long as you deliver you have guaranteed income.

And another bonus is he has trained his sons to take over the company when he retires, while his friends battle the outlook of paying 100-200K for their children's college tuition.
 

monsquid

Woodpecker
@rainy nice story of success

One thing I've been realizing lately is that I don't need to make as much money as possible. Beyond meeting certain minimum needs and wants, any extra $$$ I earn has to be justified against the stress and headache.
 
Industries to pay attention to:

  • Anything cloud-based. Cloud infrastructure will continue to grow, especially as more workers are currently working from home. Even after the China Virus dies down, many workers will moan and protest about going back to work with long commutes and crowded offices. Working from home will need to be supported by the cloud, VPN, cybersecurity, low-voltage networking, ISP service techs, etc. A career in one of those fields, or something auxiliary that supports them will be a good long-term choice.
  • Small plot farming. Think about the size of a large backyard. People will need instruction on how to grow their own veggies, they'll need seeds to stock them and other assorted gear. It is recession-proof because people need to eat, and the China Virus will be waking them up from the fragile nature of the food supply. Starting a community garden or co-op would also be a good option to keep costs down via economies of scale. Just don't do it in an urban area where civil unrest will most likely make you an easy target for food/equipment theft if SHTF.
  • Truck drivers. People still need stuff delivered. That includes the fed and state govs, the businesses that drive the economy and also the general consumer. While robot trucks are on the horizon, you can certainly cash in now and start investing for another career with more long-term potential. The demand isn't going away right away.
  • E-Commerce: People buying stuff online isn't going anywhere. Starting your own store with essentials that are recession-proof (sorry, $29.99 per lb fair-trade soybeans don't count) is a great long-term play. You need to source local/United States suppliers to hedge against further China Virus fallout which will lead to more supply chain issues as the heat is ratcheted up on the commies. Focus on what people need, not on what you think is a hobby. Side note: There's consulting money to be had in helping small businesses in your area setup online web stores. This shutdown has affection small biz retailers hardest who HAVE NOT ALREADY MADE THE JUMP. You can use that as a selling point as to how to prepare against the next China Virus, not to mention the Amazon Onslaught. Evolve or die. Literally.
  • Disaster Planning for High Net Worth Individuals: Wealthy families that didn't plan before are certainly going to be planning for the next big crisis. Consulting can range from a financial plan to personal security to the procurement of goods and services to make sure loved ones are safe. The most money will be made catering to the wealthy, but a general subscription service for the DIY would be good.
  • Online services: Any kind of service that you can provide remotely and has demand regardless of the broader economy. Telehealth, remote phone CSR's for larger companies, network admin, etc.
 

Easy_C

Crow
Worth noting that IT is a double-edged sword.

A lot of expansion/investment spending can be cut off quickly. People who are good at managing basic business software functions (like people who can keep a large ERP system running and do "firefighter" work well) will be in good shape for the foreseeable future.

Worth noting is I got a very good idea from one of my old PUA buddies. The dude's normally kind of a bum but he had an excellent idea to leverage his citizenship and security clearance combined with IT. If you have a security clearance and ERP/IT skills you are not competing with the H1Bs. The H1Bs can't get security clearances and will never be in direct competition for your job as a result.
 

NoMoreTO

Pelican
John Michael Kane said:
[*]Small plot farming. Think about the size of a large backyard. People will need instruction on how to grow their own veggies, they'll need seeds to stock them and other assorted gear. It is recession-proof because people need to eat, and the China Virus will be waking them up from the fragile nature of the food supply. Starting a community garden or co-op would also be a good option to keep costs down via economies of scale. Just don't do it in an urban area where civil unrest will most likely make you an easy target for food/equipment theft if SHTF.
I am getting into about 50 acres of workable farm land. Right now I am moving forward with the plan to have some bison on that land in 1-2 years. My family has some other farmlands that if the bison biz is successful we could operate it on family lands too.

My job is in IT and I have had an eery feeling in recent years. When things hit the fan a lot of these surplus consulting contracts are the first to get the axe.
 

Hypno

Hummingbird
Short term:

All but a small percentage of companies are imposing hiring freezes and slow-paying their vendors.

Raises, bonuses, and capital expenditures are either out the window or significantly curtailed.

Non-sales staff will face furloughs or reductions in force at a lot of companies - maybe half.

Anyone in sales is going to have a hard time making their number.
 

TigOlBitties

Kingfisher
Another thing is to learn humility. Fortunately I can still work my regular job right now, but if I couldn't I would be applying to a grocery store or something similar to stay busy. I don't like the idea of sitting around and relying on unemployment. Too many lazy people with a victim mentality.
 
TigOlBitties said:
Another thing is to learn humility. Fortunately I can still work my regular job right now, but if I couldn't I would be applying to a grocery store or something similar to stay busy. I don't like the idea of sitting around and relying on unemployment. Too many lazy people with a victim mentality.
I could see salaries for grocery store workers going up and in the US it could mean a push to unionize.
 
I've been thinking of having a little aquaculture fishing farm. We had a huge koi fish pond that hasn't been used in years. Been cleaning it up with some hired workers since last week. Looking into growing Tilapia in it on a small scale (compared to the big time farms). Thinking of selling it into local markets or restaurants. Don't care if it fails I love ocean life and eating seafood so it's a win-win regardless.

I really wanted to do shrimps or crabs, but the cost for them is tenfold. Not to mention they need more maintenance. Want to get my feet wet with the cheaper and less maintenance fish before I move into high maintenance fish.

Agreed with the other posters above. At this point in time its easy to see what products or services are essential. I'd say jump in it since we have a lot of down time due to the quarantine. It's like the economy hit the reset button and gave entrepreneurs a small window shot at competing. Do not wait until another disaster in the next decade

-Food
-Hygiene products
-Medical equipment
-Water
 

Donfitz007

Kingfisher
I've been working on a mobile game that reviewers (although small) have said could be bigger than angry birds. I was planning on launching a Kickstarter for the game with the end goal being planting seeds for trees and such across the world (primarily Australia). (you know a seed for every $1000 dollars or so.....not the real ratio)

Now i'm afraid this virus might have messed that up for me. Many of the small to medium-sized companies might not want to buy ad space anymore and people are going to pour their money to Corona relief rather than trees (which is very understandable). The Kickstarter was projected to bring in 50k worth of funding.

Any advice? Should I still try to get this game funded?
 
Go through the yellow pages, and call a couple of companies in each industry and just ask them how they're doing. Even if it's not of any interest to you, it will give you an idea of what is still in demand. Then brainstorm.
 

Donfitz007

Kingfisher
Vladimir Poontang said:
Go through the yellow pages, and call a couple of companies in each industry and just ask them how they're doing. Even if it's not of any interest to you, it will give you an idea of what is still in demand. Then brainstorm.
Although this might have not been aimed towards me, This still is a Genius Idea!
 

monsquid

Woodpecker
Vladimir Poontang said:
Go through the yellow pages, and call a couple of companies in each industry and just ask them how they're doing. Even if it's not of any interest to you, it will give you an idea of what is still in demand. Then brainstorm.
Do they still print those?
 
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