I have 7 criteria that I use to decide if a specific industry or business model is worth getting involved with. If you can hit all 7 criteria then you have big potential on your hands, but even hitting just 5 or 6 can make a big difference to your success.
Recessions impact all kinds of businesses, large and small, due to increased legislation rules, emergency laws, slower demand, and general fear and uncertainty.
When things change quickly, it tends to create a lot of opportunity for how you can target and reach your audience online.
Now let’s look beyond the initial crisis and the coming economic troubles, and see what niches are set to be okay or even prosper during these tough times.
Now let’s dive a little deeper into specific business models that are continuing to prosper during the outbreak and why…
Matt and Noah Colvin. Amazon. Hand sanitizer. You wouldn’t think those three together would make for an interesting story, but they do.
Firstly let’s take a look at how the virus impacted traffic of various industries…
There are opportunities for online freelancers, people new to online businesses, any business with a website, and existing online businesses.
But now quarantines, lockdowns and social distancing have become the new normal. While many are waiting for things to go back to how they are, we can’t be certain that can happen.
Ultimately crisis or no crisis I use the 7 factors of a winning industry to decide the bigger picture direction of where I want to go.
