My brother's friend who runs a tourism company had an early inkling that the Covid was going to attack his business and in a big way. Troubled by this unbeatable threat, he used that unprecedented time to create the product people needed. Blessed by his good network, he gathered the information, raw material, workforce, money and space to manufacture Sanitizer.
His company’s sales surpassed its previous records.
He didn’t sit back and cursed the Chinese for Covid or the PM for the lockdown. He never had time for such thoughts, instead he found a product that would sell in that time.
You all must have had similar stories in your social circle of acquaintances about how this guy you knew made big money during that time. That’s because they exploited the opportunity.
An opportunity comes with a risk, and a calculated decision can bring fortunes.
Another example is the investment in stock-market during Covid time. Those who invested earned lacs of money within months. And many didn’t realize it until time slipped away from them.
I’m sure you’ve heard this-
Rich gets Richer, Poor gets Poorer.
That’s damn true, not because of government policy, but because the rich know how to make money and do business. They are always on the go, exploring, thinking broadly and creating opportunities for their business.
Every business woman and man should learn and try to grab the small opportunities that come to their doors now and then. If you are running a business, don’t wait for a bigger opportunity, take advantage of everything you get and give 100%. The learning and success will follow.
The following points will help you prepare for future opportunities and make quick decisions at such times:
1) Set aside some money to invest when such opportunities arise.
A business needs money, you cannot take everything on credit. However small, but always keep some money aside for such times. This way you can know how much risk you can take if need be.
2) Try to keep some business expansion ideas in your mind and slowly prepare for it. You never know when the right time will come. What is in your own hands is to prepare yourself for that time.
3) Know your strengths and attempt to seize the opportunity where you can use your strengths. This way, you can gain more with less efforts.
4) Keep building your network, it can be very useful in such times.
This post is a part of Blogchatter A-Z Challenge- #blogchatterA2Z. Check out my A-Z Challenge theme, or read previous posts.Find Your Business AdvisorsBuild Your BrandCyber-secure your business.Design Product for market needs.Practice Effective CommunicationKeep IT FitGo extramile for your customersInduce Halo EffectGain Competitive IntelligenceJoin Morning ClubKnow Your NumbersBe a Leader that mattersMarket Market MarketNetworking is the key to success
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