Lessons From The Corona Virus Pandemic
On March 11th 2020, WHO declared COVID-19 a global pandemic. The virus traces its origins in China and has affected over 21 countries. According to live updates from Worldometer.info, there are 134,072 infections and 4964 deaths and rising. The world seems to be in panic mode resulting in school closures, panic buying, etc. Italy, the European country largely affected outside of China, has declared a total lock down. Like every situation, the Corona Virus brings lessons we should consider.
Stock up on disaster emergency supplies.
Financial analysts encourage emergency savings of up to eight months as cushion against events that might lead to financial stress. While planning for emergency funds, consider stocking up on non financial essentials. The Department of Homeland Security has provided a list of necessities to consider. The Corona virus has created panic buying with stores quickly running out of necessities.
Review your investments.
Stock markets around the world have seen declines triggered by the Corona Virus, but negatives create opportunities to reshape your portfolio. The virus has restricted global movements leading to increased online activity. It is wise to invest in companies focused on providing digital products and services. There is the opportunity to buy low. Financial analysts encourage a mixed portfolio to cushion against heavy losses. Speak to a financial analyst about these opportunities.
Global lock downs are forcing companies to rethink work strategies one of which is work from home. Tech companies like Amazon, Facebook, Google forced employees to work from home in an effort to limit the spread of the virus. Take advantage of telecommuting If you work for an organization flexible enough to offer such opportunities.
Plug into the online market space.
The spread of the corona virus is reshaping business and consumer behavior. Lock downs have affected brick and mortar restaurants and retailers as focus turns to online orders for clothing , food and groceries. There has never been a better time to create an online presence. Entrepreneurship is about solving problems. Research and create.