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What business would you launch, If you got laid off due to COVID-19?

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Val Okafor

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I am just wondering aloud .. If you got laid off due to the economic downturn resulting from Corona Virus (Covid-19) what small/solo business would you launch with $1000 or less, seeing that no one would be hiring in the current climate?

For me, I would launch a mobile app development agency, because that is what I know. Wondering what other ventures would be the default for other people.
 

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jdm667

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I like the app development idea - you can do it from home, and no amount of Covid can really slow down your development efforts (unless you get sick yourself :duh:).

If I needed quick cash, was healthy, and didn't have anyone at home to worry about infecting, then I would start a biz helping companies to deliver groceries or restaurant takeout.

There's no way that stores and restaurants are able to keep up with the current demand with only their usual gig workers (here in Massachusetts, Whole Foods & other stores were taking orders on Tuesday/Wednesday this week and are unable to deliver until Sunday at earliest).

I would also look into starting a company that cleans & disinfects homes, hospitals, apartments, college dorms, etc. - they are probably unable to handle demand right now.

The demand for online tutoring may go up, in response to schools & colleges closing & students at home for weeks or longer & needing 1-on-1 help.

Also, auction/estate clean outs (hire a retired auctioneer if you are not one, and hire some strong guys to help you clean out homes - I am not trying to be morbid, but this business will always be needed, and more so if Covid is worse than imagined).
 
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Val Okafor

Val Okafor

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A psychological investigation service, to investigate out why I laid myself off. :playful:
You maybe laid off, because apparently companies needed loans to make payroll and banks are closed because employee distancing themselves from people
 

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If I was an office worker and got laid off then I’d try to provide the exact same services to other businesses, but from home.
 

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Launch a pharmaceutical company and make a Covid-19 vaccine. :rofl:

There are lots of ways to get started , learn a freelance skill you can sell over the internet. Look at different commercial machines/equipment you can buy and see what products you can make and sell from home. Learn how to market it and boom you got yourself a little business.
 

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You maybe laid off, because apparently companies needed loans to make payroll and banks are closed because employee distancing themselves from people
Possible, though I would hang on longer than many, I suspect. By the way, my comment was playful, and not intended to offend. I hope you take it that way.

Companies are already letting people go, which is awful to see. In some cases they have no choice. In others, I think bigger companies could have planned for better resilience. It's a bit early to have the unemployment numbers we're seeing. Presently my employees are unaffected (at least in terms of their employment), and I have no plans to lay them off or reduce their pay.

I don't employ hundreds of people or anything, but I do have a certain ethic about this sort of thing. In the event that I did fail to make my businesses resilient, I would want my employees to have a fighting chance without being dependent on me for income. Truth is, I think almost everyone should have a source of income in their back pocket at the very least, even if they plan to work a job forever. That makes you less dependent on the whims of one person, or the fate of one industry. So there's no reason you should wait to get laid off just to start something. My Company #2 even has a specific policy about this; it's a mandate that we provide financial education to our employees, including entrepreneurship, and that we allow for and support employees who are building their personal assets.

No plans to lay myself off either, although I would give myself a pay cut before I would let any of this affect my employees.
 

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it's a mandate that we provide financial education to our employees, including entrepreneurship, and that we allow for and support employees who are building their personal assets.
Nice. I work with a small team of freelancers. They’re pretty much full-time with me, but I try to structure things so I’m a client of their business and so they can take on other clients later.
 

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Nice. I work with a small team of freelancers. They’re pretty much full-time with me, but I try to structure things so I’m a client of their business and so they can take on other clients later.
It only makes sense, because if we get tired of all this business stuff we might wanna work for them ;) Really, it's just treating people right.
 

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Launch a pharmaceutical company and make a Covid-19 vaccine. :rofl:

There are lots of ways to get started , learn a freelance skill you can sell over the internet. Look at different commercial machines/equipment you can buy and see what products you can make and sell from home. Learn how to market it and boom you got yourself a little business.
Reminds me of some "business advice' that I read on r/Redpill.

They said to start an oil company to become rich. Like yeah ok I've got a rig in my backyard and a few tankers in my bathtub. Just need a small credit line of $30 billion.
 

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With a Amazon account I would import garlic presses and wrenches from China and learn to sell them.

Real:

Yesterday i went to a tool factory nearby and asked for a sellers account.
I got really bad conditions, but maybe I ll try to sell akku lawn mowers and aditional rent them out to elderly people, who dont want to buy one and have time to mow themselves.

Maybe, when I sell more, I get better conditions.

And maybe there is someone asking for mowing, too. Than I could look for another unemployed working/mowing for me.

But I still have my job. But maybe thats no barrier.
 

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If I was an office worker and got laid off then I’d try to provide the exact same services to other businesses, but from home.
I fear people will skip over this suggestion so let me elaborate.

Imagine you’ve been working in accounts payable for the past 20 years.

You get laid off and start Googling for “work from home” or “make money online”. (God help you if you do as there’s many trip-wires lying in wait.)

After a lot of research you decide to create a course on how to teach Irish dancing because you’ve been giving evening classes for the last 10 years.

Or maybe you decide to dropship, “do affiliate marketing”, start a digital marketing agency, a blog, podcast, an “Amazon business” (whatever that is), or become a life coach.

Huh?

You’ve a skill that’s put food on the table and paid your mortgage for the last 20 years.

Why are you throwing all that skill and experience in the bin?

You’ll need to make sales and get customers and this may be new to you.

Newsflash... you’ll need to make sales and get customers whichever of the above options you pick.

So why not explore starting with what’s already paying your bills?

I’m taking my own medicine here. I’ve looked at other business models and have had some revenue from them. But if I lost my business this weekend then come Monday I’d do exactly what’s been bringing in the money these past few years.



These threads may be helpful:
> "Build Your High Ground" & "Grow What You Know"
> (Audio) Freedom, Motivation, & Grow What You Know
> Don't worry about selling your skill or time
> Are you *already* employed to solve problems?
 

reedracer

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I'd keep up my side gigs with Door Dash and Field Nation. One on there is full time at twice my current pay for 3-6 months.
I'm still hatching on ideas to get started but it feels like I'm stepping on thin ice whenever I try. Winter funk starting to recede, so I'll be able to resume action faking as well soon.
 
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Val Okafor

Val Okafor

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Possible, though I would hang on longer than many, I suspect. By the way, my comment was playful, and not intended to offend. I hope you take it that way.

Companies are already letting people go, which is awful to see. In some cases they have no choice. In others, I think bigger companies could have planned for better resilience. It's a bit early to have the unemployment numbers we're seeing. Presently my employees are unaffected (at least in terms of their employment), and I have no plans to lay them off or reduce their pay.

I don't employ hundreds of people or anything, but I do have a certain ethic about this sort of thing. In the event that I did fail to make my businesses resilient, I would want my employees to have a fighting chance without being dependent on me for income. Truth is, I think almost everyone should have a source of income in their back pocket at the very least, even if they plan to work a job forever. That makes you less dependent on the whims of one person, or the fate of one industry. So there's no reason you should wait to get laid off just to start something. My Company #2 even has a specific policy about this; it's a mandate that we provide financial education to our employees, including entrepreneurship, and that we allow for and support employees who are building their personal assets.

No plans to lay myself off either, although I would give myself a pay cut before I would let any of this affect my employees.
No offense at all, I really appreciate your thoughts and consideration to your employees and wish you well. The initial news report is that employers will not lay off workers because it would be hard to hire back and train once the economy gets back to normal, but apparently some employers are not waiting..
 
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Val Okafor

Val Okafor

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I fear people will skip over this suggestion so let me elaborate.

Imagine you’ve been working in accounts payable for the past 20 years.

You get laid off and start Googling for “work from home” or “make money online”. (God help you if you do as there’s many trip-wires lying in wait.)

After a lot of research you decide to create a course on how to teach Irish dancing because you’ve been giving evening classes for the last 10 years.

Or maybe you decide to dropship, “do affiliate marketing”, start a digital marketing agency, a blog, podcast, an “Amazon business” (whatever that is), or become a life coach.

Huh?

You’ve a skill that’s put food on the table and paid your mortgage for the last 20 years.

Why are you throwing all that skill and experience in the bin?

You’ll need to make sales and get customers and this may be new to you.

Newsflash... you’ll need to make sales and get customers whichever of the above options you pick.

So why not explore starting with what’s already paying your bills?

I’m taking my own medicine here. I’ve looked at other business models and have had some revenue from them. But if I lost my business this weekend then come Monday I’d do exactly what’s been bringing in the money these past few years.



These thread may be helpful:
> "Build Your High Ground" & "Grow What You Know"
> (Audio) Freedom, Motivation, & Grow What You Know
>
@Andy Black while I agree with you, I just want to add that there are exceptions. For example, my wife has been working in Human Resources (HR) for bigger organizations for over 20 years. There is a possibility that anyone could get laid off in this climate and if that happens, that is not the kind of services that you can offer as a freelance service but I agree with your point in principle.
 

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Andy Black

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EPerceptions

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I'm curious. Why not?
Regulations maybe? My sister was in the same boat and tried to transition to freelance headhunter, but the mindset is so completely different from corporate to freelance. She was in way over her head and way past her comfort zone. Jumped on another corporate job as soon as she could and is now off again due to the virus changes.

Your level of hunger and taste for hustle makes a difference too. My "day job" is part time freelance editing but I've been a writer 80% of the last 20ish years (sales/web/books/technical/etc.) and it's constantly being requested of me still, even though I've tried to move away from it for years now. I'm good and thus always asked for services, but the pay levels and expectations aren't worth it in most cases anymore.

My "side gig" is options trading, and I've had residual income from books and photography for the last 15ish years.
 

Andy Black

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Entre Eyes

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Mindset, the "hustle" lifestyle is not for everyone, especially if you have spent over 2 decades in corporate environment.
I agree. Not impossible but for some it's hard.

That is why I liked Rich Dad Poor Dad whether they were real or not. :)

As Entrepreneurs our strength is ability to pivot and quickly.

Fitness Trainers can now create Videos instead of in person training.
Coal Miners? Hmmm.

I like this article you would be surprised what some businesses started out doing and what they ended up doing...

 
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Andy Black

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Mindset, the "hustle" lifestyle is not for everyone, especially if you have spent over 2 decades in corporate environment.
OK, so it's not that HR services can't be offered as a freelancer. That's the part that confused me.

Yes, absolutely agreed that many people will not have the mindset, confidence, or desire to be self-employed. For many it won't be on their radar. For many others they'll think they need to take a course first. It's a shame.
 

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@Andy Black while I agree with you, I just want to add that there are exceptions. For example, my wife has been working in Human Resources (HR) for bigger organizations for over 20 years. There is a possibility that anyone could get laid off in this climate and if that happens, that is not the kind of services that you can offer as a freelance service but I agree with your point in principle.
We do have at least one person I know of on this forum who works as an HR outsourcing consultant. There are whole industries organized around this too, at least in the US. We have employment and payroll services, recruiters, and professional employer organizations (PEOs). It can be big business, depending on which part of it you're in.
 

reedracer

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OK, so it's not that HR services can't be offered as a freelancer. That's the part that confused me.

Yes, absolutely agreed that many people will not have the mindset, confidence, or desire to be self-employed. For many it won't be on their radar. For many others they'll think they need to take a course first. It's a bit of a shame.
The wife of a friend of mine was laid off from her H.R. position at Monsanto in the late 80's. She set herself up as sort of a corporate hitman for hire. She would evaluate a site or whole corporation and help them figure out who to lay off while maintaining continuity and maximizing savings. She worked for a cut of the salary the company saved the first year. She did this work for 7 years and made enough to retire. From then on she would help victims of discrimination in the workplace make their case and other philanthropic causes.
 

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