Should I start a business during a pandemic?
Updated: Nov 23, 2021
The Coronavirus (COVID-19) has shown us just how vulnerable the American economy can be, but are there steps that you can take to sure up your own economy? And is this a good time to begin taking those steps? Those are important questions that you need to be asking during times like these.
Listen, nobody knows for certain exactly how hard the economy will be hit, but we do know, it’s certainly going to be hit. The stock market has experienced an historic drop, mass layoffs are happening because businesses are being forced to close, and worst of all, people are scared. Fear is the worst of all of the things that are happening to this country. Fear is a powerful emotion that can lead to people making knee-jerk reactions and emotional decisions. I don’t know about you, but every time I’ve made a decision out of fear, I’ve made the wrong one.
What’s the best course of action?
No matter what the answer is, it’s clear that the best way to approach the situation is with logic. Staying logical when most are being emotional is what separates the people that fail in a situation like this from the people that grow and advance (and understand – people WILL advance and grow). Whether you use logic or fear to guide your decision making is a choice that you make. Choosing logic is the only logical choice, wouldn’t you agree?
How do you stay logical?
1. Look at the facts – Facts are a great tool to help you stay logical. The media has an objective – No matter which side of the political isle you sit on, you can agree that the media has an objective. Knowing that will help you in your quest to weed out the garbage and fear that the media is dispensing and find the facts. They’re out there, you just need to look.
2. Set long term goals – Setting goals will help pull you through a time of uncertainty. The best way to approach a quest toward a goal is to view it as inevitable. Goals will help you stay logical because they give you steps to take to achieve them. This will help you view each obstacle in your way as nothing more than a hurdle that you need to jump.
3. Stay positive – Having a positive attitude is a lot easier when the economy is good. It’s a lot more difficult to be optimistic with the media constantly talking about a pandemic, and every graph you see of the stock market looks like the backside of a mountain biking trail. Even though it’s harder, it’s not impossible to be positive in the midst of this. Staying positive will make staying logical easier. Negativity leads to fear, positivity leads to logic. Read this article for more tips on improving your attitude:
4. Stay in control – Feeling out of control is only natural during a pandemic or when the economy is failing. But, controlling your own life is paramount to helping you advance during an economic contraction. If you want to win, you need to adopt this attitude: Nothing happens to you, things happen because of you.
How do I gain more control over my circumstances?
During these times it’s important to look inward to see what you’re made of. One question you need to ask yourself during an economic downturn is “Do you want to be in control, or under control”? If you said in control, then you may want to consider becoming a business owner. But not just an owner of any business – Just ask the owners of restaurants and retail stores. That’s not control. That’s letting the nature of the economy control you. If you truly want to be in control, you’ll want to own a business that provides a service that is a “need”. Preferably one in a recession resistant industry. Especially one that’s listed as an “essential service”, which will be important if the pandemic doesn’t subside.
The home services industry is the perfect place to look. Particularly, the roofing sector. A roof will fail regardless of the economy, regardless of if there’s a pandemic. And those homeowners will need the services of a professional roofing company.
You may be thinking, “Well, that’s a cute idea, but I’m not a roofer”. That’s where a franchise can help. With a solid training program and a model built on marketing and sales, even a novice can own a successful roofing business.
Is it risky to invest in a franchise? Of course it is! But just look around you. It’s risky to be employed by someone else too! At least if you own your own business, you’re taking the risk on your terms!
When this is behind us, and the proverbial storm has passed, Homeowners will NEED to have their roof repaired or replaced. Are you going to be there for them? Will you take this opportunity to take market share in a HUGE industry? Or will you sit idly by and let someone else do it?
The choice is yours. But remember the ancient Latin proverb, “Fortune favors the bold”. Do yourself a favor… Be bold, and let fortune favor you!
Visit RoofingFranchise.com to learn more about how you can take control of your future and advance while others contract.