The COVID-Era has brought great challenges to entrepreneurs and the overall global economy. The governments took some tough stands like nationwide lockdown to break the chain of the virus spreading across various geographies. Yet, this scenario brought a tremendous fall to the economy.
The Necessity to Rethink & Implement Innovations:
Now, newly entering entrepreneurs and even the existing businesses need to rethink their growth strategies to cope up with the changing situation. The entrepreneurs need to adopt innovative methods and fresh business ideas to sustain this scenario. Again, tapping and engaging a customer-base, in the long run, is another great challenge for businesses too.
Most importantly, the businesses need to operate considering the restrictions for safety, hygiene, and reaching out to customers in a wide territory following the norms. Let us take a glance at how entrepreneurs can turn COVID-Era Ideas into Business Possibilities:
E-commerce for Tremendous Business Growth:
Due to the travel restrictions during the lockdown, people were desperately looking for home delivery services to get the essentials and other supplies. In this adverse situation, popular online shopping portals started delivering groceries, vegetables, medicine, and other essentials to the doorstep of the buyers. This trend would continue even in the post-pandemic era.
The big brands in this sector are already attracting the audience through their frequent announcement of the sale, and tremendous customer service. This sector has tremendous growth possibilities. Start-ups can enter collaboratively to convey essential supplies and other products at the customers’ doorsteps.
Also Read: Survival Strategies Post COVID-19 Lockdown For Businesses
Selling Safety Gear to Beat Infections:
During the COVID-Era, face masks were mandatory for all the people coming out of their homes. Supply of masks has already brought employment to tailors, fabric manufacturers, wholesale dealers, and retailers selling these products. Beyond that, the supply of many other products to beat the infections can be a great business idea.
Some of the products are high in demand, such as:
- Face Masks
- Face Protection Shields
- Kit to cover the entire body
- Hand sanitizers
- Sterilizer spraying pumps
- Disinfectant sprays and more
The entrepreneurs in different territories can think of manufacturing or reselling these products. These products are proving to be life-savers during the pandemic. The manufacturers are making the most effective use of 3D Printing Technology to make face shields and many other apparatuses. This can be a feasible business idea during and even after the COVID-Era.
Also Read: How Covid-19 Has Impacted Indian Business And Economy
Sterilizing Large Areas with Drones:
As Covid-19 started spreading, crossing the first phase, the government and other institutions took an initiative to sterilize public places. Yet, as the sterilization process is carried out manually due to lack of resources, it is time-consuming. The entrepreneurs can find the opportunity hidden in this challenge.
Disinfecting the infected areas manually can be a health challenge. It is possible to utilize special drones with disinfecting UVC lights in such areas. These drones are designed to fly indoors. This service can be an ultimate solution to save on time, without bringing any employee in dangerous infectious zones.
The service idea combines industrial drones and smaller yet powerful UVC lights for disinfecting surfaces. This can be a practical and innovative method to disinfect large areas in the shortest possible time and with minimal risk.
Also Read: Covid-19 Challenges Faced By MSME
This kind of service is already successfully implemented in many places. You can sterilize and disinfect large residential buildings, office and commercial complexes, and public places that were crowded before. Thus, this business idea would let the entrepreneurs come up with an innovative method, a feasible solution to a burning issue in society.
The Covid-19 pandemic began when most of the students around the country were either facing their exams or preparing for their exams. Now, during the unlock stages, the government is still planning to start classroom sessions. Yet, most of the schools, colleges, and universities are closed.
Online classes for primary, secondary, higher secondary, and university courses are the highlight of the critical shift in the country’s education system. Again, launching educational apps accessible on PCs and handheld devices can be another tremendous business idea.
The start-ups need to think of the competition in this sector. Yet, as most of the popular learning apps focus on CBSE and ICSE Boards and preparations for competitive exams; still there is a lot of room to grab users.
Syllabus-specific apps for different State Secondary Education Boards in a wide variety of regional languages have a huge market in the country that seems to be untouched so far.
Also Read: Top 10 Business Ideas After Lockdown
Other Interactive Learning Programs:
Apart from formal academic education and coaching for the same, there is a wide scope to other learning verticals in a virtual mode too. The entrepreneurs can think of various other kinds of e-learning alternatives like:
- Skill development programs
- Short-term Certifications in IT such as Coding, AI & ML, Data Science, App Development, and Digital Marketing
- Short-term Certification in non-IT, non-technical, and other verticals
- Coaching for competitive exams like UPSC, IIT-JEE, NEET, GATE, CAT, and so on.
- Health-related learning programs like Yoga teaching courses.
- Online personal gym training and much more.
The aspiring entrepreneurs can organize a skilled workforce to offer these kinds of learning initiatives through mobile apps. These non-academic virtual learning courses can be designed for students, working professionals, and even housewives. These innovative learning apps would help people to strengthen their Resumes and attain better health and wellbeing as well.
The overall digital consumption increased drastically during the pandemic. It is quite natural as people were at home and had ample uninterrupted time. There are many established players already offering their services in this segment. Yet, there is a lot of scope for new entrants. People need to rely on sources that entertain them without a need to go out of their homes during the COVID-Era.
The enthusiastic entrepreneurs can think of the following pockets in the virtual entertainment segment:
- Video making and sharing apps: There is a lot of talent in enthusiastic internet-users and they look for reliable sources to share it with others. It would be a tremendous business idea to provide them with an online platform to perform and be famous.
- Online streaming: On the Top, On-Demand movies, web series, and TV shows streaming services have great prospects as people are missing theatre releases of movies. Again, it is convenient and safe to watch movies at home along with the loved ones or even alone.
- Music playing apps with large libraries: Music is connected with the emotions of the people in our country. There is music for every mood, occasion, and festivity. Offering music playing apps with enormous options of segmented tracks can also be a great business idea.
- Online multiplayer games: Games are already a huge market. Yet, the pandemic has added the users and the duration they spend playing games. Developing interesting games would be another business possibility that would last in the post-pandemic stage as well.
- Online musical concerts and events: Enjoying live music performances of popular vocalists and musicians is a passion for a large part of the population. Organizing online live concerts, and other events like stand-up comedy shows, motivational speeches, and so on can be a creative and feasible business idea during and after this COVID-Era.
- Virtual Tourism:
Tourism might be the worst-hit sector during the pandemic due to the stringent travel restrictions to avoid the spread of coronavirus across the globe. People are missing the trips to the most popular and their favourite travel destination. How about taking them to the places they would love to travel along with the loved ones virtually?
This kind of tourism doesn’t require a passport, visa, and even travel tickets. The users can subscribe to the services and enjoy a virtual tour to the desired travel destination sitting in the comfort of their homes. Again, you can allow multiple people to connect to the same platform at the same time.
Also Read: How To Manage The Shortage Of Credit During Lockdown?
This innovative kind of tourism unravels various possibilities:
- A daughter can virtually take her distantly located parents to Paris to celebrate their wedding anniversary.
- College friends can take a virtual tour to Croatia to celebrate their reunion.
- Family members can visit a well-known museum in London sitting together in their home in Mumbai.
- Co-workers can virtually take a bike tour across the mountains in Spain and beaches across Hawaii.
So, aspiring entrepreneurs can offer people the best travelling experiences to spread happiness. This business idea in COVID-Era focuses on delivering something interesting that people would enjoy.
The Bottom Line:
Businesses can contribute to fighting coronavirus in many ways. They can offer their premise for the treatment of patients, the residence of Corona Warriors, and so on. The business ideas in the COVID-Era need to focus on the overall betterment and wellbeing of society. Again, businesses can also think of offering something that people need.
The technology-driven business ideas discussed in this article require technical expertise and a considerable investment as well. The COVID-Era is opening doors to new business ideas. It would be crucial for the entrepreneurs to gather all the possible resources tactfully and reach new heights in their business by wise practical implementation of new strategies.