by Homy Invest
Most people will feel down at these difficult times and there is no doubt that nowadays are more difficult than the great rescission on 1920s which had happened after Spanish flu pandemic. However, humankind is a survival species with a very high capabilities to adopt new conditions easily which was proven over our existence on this earth.
In this article we suggest and propose from our viewpoint which can be either wrong or right, but at least you can consider it sort of another opinion. In addition, we have used a very simple language to avoid complicated terms or expression, so it would be a very light material to read and digest…
Currently, it’s the best time to start a small business identity that can grow slowly with the current slow economic recovery rate, so you need to keep the following in-mind:
- Start small with the minimum investment
- Penetrate the market on slow rate and gradually revise your directions
- Be patients and expect big competitors
- Ensure about the new added value from your small business that fulfill people needs
- Increase your investment or scale up by 20% lower than the economy recovery rate to avoid set-backs on the way (the percentage is your call – it’s a suggestion from HomyFinder.com)
- Always make the cash flow your priority and control spending as possible
- If you want to buy a business, make sure it’s not a died end business
- Online and Delivery options are now major components in any business module you must consider
On the other hand, some people are not into business and they will prefer safe investment like buying assets or realestate properties where you need to keep the following in-mind:
- The relastate bubble will burst very soon predicted to happen either end of 2020 or early 2021
- Don’t rush to buy now as the pandemic side waves are still to come
- Study your options carefully and try to plan for future not for the current situation
- Don’t use installments or bank loans unless you are sure of your monthly income
- Don’t pay the full amount and plan installment over couple of years to avoid cash drained-out
- Evaluate the rental income or the value of possible re-sale where it wouldn’t be easy at all
- If you own a property, think to develop it or refresh it by the minimum amount of cash to energize your tenants
As a matter of fact, the most important factors you should have in-mind are:
- Never surrender and keep trying
- Don’t follow the entrepreneurs/Influencers fantasy as it’s a scam and not real (mostly)…
- Find your own way that suits your values and principles
- Take your time as long as you need to find your passion into business (No need to rush as it will show itself)
- Plan your forward moves
- Think and analyze your stakeholders
- Increase your ability to response not to react
- Control your emotions either high ones or down ones
- Don’t take a decision while you feel panic, fear, sad, or even happy
Eventually, as we stated above it’s just another opinion or viewpoint to consider in your way and not a definite facts supported by some kind of studies…
Be smart, and Act wisely…
