4 Business Ideas Amid the Pandemic for Persistent Entrepreneurs
The pandemic continues to provide businesses with a harrowing ordeal as social distancing and health threats shut down their doors. It remains a challenging process for entrepreneurs to adjust, with some small business owners even reaching a point where they have to give up or pause their ventures for a while. It can be an unforgiving situation, but you will find it possible to maintain the entrepreneurial mindset.
Adjusting to the pandemic made way for a new target audience: people who are stuck at home. If you still have the entrepreneurial spirit, you can develop business ideas that will be profitable amid all the world’s chaos. Other business owners are already providing different paths to follow if you want to pursue a business amid the pandemic.
Cleaning Services
Homeowners are responsible for keeping their house clean, but they might no longer have the time and energy to perform them. Work is starting to become a part of household activities. Work supplies and equipment will also take up a lot of space inside the property, making it frustrating for homeowners to organize and clean. Fortunately, the opportunity allows you to profit by creating a cleaning services company.
Cleanliness is essential for every home during the pandemic. Families have to secure a safe space to prevent the virus from inhabiting their homes, which requires daily sanitation. You can provide professional services, but you will have to invest in safety equipment and tools to ensure that you are not bringing the virus inside your customers’ properties. Your offers can range from sanitation and cleaning to home organizing and renovation. Homes are becoming more valuable for families, so cleaning services are starting to increase in demand.
Delivery Services
Home quarantine is necessary for homeowners because it is the only safe space to feel comfortable during the pandemic. Every time you go outside, you might be suspicious if you have contracted the virus despite practicing social distancing and wearing safety equipment. Because of the potential health complications that you might bring into your home, it will not be worth the risk of going out.
However, you must buy essential goods like food and medication. Starting a business based on delivery services allow you to prevent homeowners from risking their lives by dropping by the grocery store or the pharmacy. Hire a few delivery personnel and promote the services online to make it a profitable venture. You will find that your business idea can be beneficial, as well as life-saving.
App Development
People stuck at home will be working, which means that the property evolved from a place for relaxation to a location for productivity. However, most people feel burned out if they focus on working without creating distractions for themselves. Some of the usual activities involve going out with friends and playing sports, but it will not be achievable during home quarantine.
People can distract themselves through entertainment, so video game companies are starting to increase in profit. It might be challenging to compete with the established video game ventures, making it critical to focus on mobile apps instead. You will find plenty of opportunities in app development. The range goes from games and recreation to budgeting and social connection.
If you are struggling to come up with ideas, try to find your area of expertise. You can also try to collaborate with other people to develop an app that will translate to profits. If you are making a mobile game, you can find a company that provides 2D game art outsourcing servicesfor the characters and design. App development might not have a definitive guide, but you will find that it can be worth it since people will be using their mobile phones more often.
Mental and Physical Wellness Programs
The virus continues to be a threat to people, which is why they will stay at home. However, the four walls can be restrictive enough that their health will still deteriorate. They do not have access to fitness centers and restaurants, which could affect their mental health. It will be challenging for people to focus on at-home exercise if they do not have a good guide.
Fortunately, you can provide them with the necessary assistance by selling mental and physical wellness programs. Your efforts can help people struggling in their homes, especially those who require the essential push. Hire a few coaches and therapists to support customers through mobile apps or online platforms, allowing you to create a stable business.
Entrepreneurs need to innovate as the pandemic shows no signs of slowing down. However, it might take a while before creating a profitable venture because of the unfamiliar situation. Even if you encounter multiple failed attempts, it is critical to avoid giving up on your entrepreneurial mindset. People need someone like you to make life easier for them, starting with engaging in these profitable business ideas.
As the saying goes, it’s never smart to put all your eggs in one basket, and the smart investor would always look to other places that can generate profit like a successful tech startup, investing in indexes, understanding cryptocurrency, and many other financial instruments. Of course, there’s no denying that it can be a hassle to manage all of these at the same time, but we also can’t deny that grasping all facets of the market gives you an edge as well.
So, today we’ll be going over the real estate market and why small and medium business owners should look into investing in housing and properties. Specifically, we’ll be going over the target house-selling criteria to help newbie investors find the perfect properties to purchase and sell in under three weeks.
My Business Is Doing Fine, So Why Do Real Estate?
Of course, we wouldn’t blame you for being skeptical. If your business is doing fine as it is and steadily growing despite the adverse effects of the pandemic, it’s only natural to think that you’d stimulate and continue to reinvest capital back into your business. However, there are distinct benefits to owning real estate, features that you won’t necessarily get to enjoy with a business alone.
Diversification And Appreciation Of Investments: Firstly, buying properties and owning real estate investments is one of the most accessible ways to diversify your investment portfolio. Furthermore, these tangible assets also appreciate over time. So, unlike your business that is bounded by performance, homes typically increase in value regardless of what you do.
Passive Rental Income: Secondly, there’s no telling when we’ll face another economic event that causes instability in the market, and just because your business survived now won’t mean it will have the same fortune later. With real estate investments, you can create more revenue streams through a passive rental income and even house-flipping, which can net you extra money in case something were to happen.
So, What Should I Look Out For?
Lucky for us, creating a target house-selling criteria is fairly simple and doesn’t require as much technical knowledge as you’d expect. Of course, you could get by much easier if you had the help of a real estate agent or expert, but a lot of the analytical tools used in business still translate into the real estate market.
#1 Focus On A Neighborhood Close By
While there’s merit in penetrating new markets, we strongly recommend focusing on neighborhoods that are nearby and in proximity. The last thing you want to happen is the off-chance of overlooking something important and having to go out of your way just to get to the property. Sure, later on in your investment strategy, it’s perfectly fine to expand your horizon, but starting out must also start somewhere close to home.
Accessible And Easier To Manage: Fixing up a property to sell or rent out can go by as quickly as a couple of weeks or last upwards of a couple of months, depending on how long it will take to make the place liveable and get the right price. So, you’ll want to be close by so that it’s more accessible and easier to manage.
Strong Grasp On Local Housing Market: Choosing a local neighborhood also gives you the advantage of a strong grasp on the local housing market. You know the lay of the land and can easily compare how well the property stands in comparison to others. Plus, you can isolate your search on house-selling apps to that specific area.
#2 Sales Activity In The Area
Just like how you would analyze the saleability of a product by its sales performance and engagement numbers, you will also want to be critical of the sales activity in the area. Poor sales performance and sale signs that have been put up for quite a long time mean that the neighborhood isn’t as desirable as it would seem. So, stick to neighborhoods that indicate otherwise.
Comparing Selling Price: In terms of sales activity, another important factor consider is the selling price of homes. Low-end and more affordable homes are much easier to find and sell, but you run into the difficulty of turning in a profit at times. On the opposite end, high-end and luxury homes have great appeal but require a substantial amount of cash as a downpayment. So, we recommend sticking to the median price where most people will buy.
#3 Overall Appeal Of The Home
Last but not least, you want to gauge the overall appeal of the home, considering all aspects such as comfort, aesthetics, and everything that a homebuyer would think important. For example, a home that’s reminiscent of Mediterranean architecture is sure to catch more eyes than ones that are more plain-looking. So, look for homes that offer a distinct advantage or unique touch.
Expand And Grow Your Personal Portfolio
As a business owner, you should know firsthand the importance of positive cash flow and how your personal portfolio directly ties in with earning potential. So, expand and grow toward real estate investments, and let the streams of income do the talking.
How to Prepare Your Affairs In Case the Worst Happens
The coronavirus pandemic has brought a death toll in the millions from all around the world. The best way to protect people from contracting the illness remains distancing yourself from other people and staying indoors as much as possible. But people still need to go to work, especially if they’re frontline workers.
However, although the definition of frontline workers needs to be agreed upon by authorities, you may already be returning to your regular workplace. This is particularly hazardous. For example, even if your wellness resort adjusts to the pandemic, you still face an increased risk of contracting the illness and getting hospitalized.
Worse, you may have a preexisting condition and fall mortally ill. The mortality risk of the illness depends on largely on your age, but you never know how it can affect you and your capacity to earn. Although it is a very sensitive and grim topic, you need to learn how to set your affairs in order in case you are hospitalized for a prolonged time or in case the worst happens.
Here are five steps you can take to ensure your affairs won’t be a mess if you fall ill and that your loved ones are take care of.
Locate all Personal Records
You need to set your affairs in order long before you put yourself at risk. Locate and collate all important personal records your family or loved ones may need to check you into a hospital or to access your finances. These will generally fall into three categories: personal information, financial data and medical information
Medical information includes your insurance policy and documents on the coverage of your health insurance. Your previous medical history will also be necessary to guide doctor’s treatments.
Your personal information includes all documents that will help your loved prove that you are who you say you are. Birth certificates, certificates of employment and marriage licenses belong in this category.
Finally, you must collate your financial records. The passwords to your bank accounts, lists of assets like real estate property and investments should all be easily accessible by your family in case the worst happens.
Create a Reference for Important Documents
Naturally, all your documents will be incredibly difficult to parse. This is why you need to make it easier for your loved ones to reference and find them. For example, you can sort out all your files into different clearly marked folders with tabs indicating the contents. You can print out a page identifying which document is which and where they can be found. This will make the process significantly easier if you do succumb to an illness.
Prepare Advanced Directives
If you do catch the virus, you’re more likely to be incapacitated for a long period or even rendered uncommunicative. You may be too delirious to manage your healthcare and finances or unable to speak due to medical devices. This makes arranging advanced directives essential prior to the events. Advanced directives generally fall into two types. A living will instructs people on how you want to be cared or in your illness. The other type is assigning someone who will have durable power of attorney for health care. This designated person will be in charge of making medical decisions for you.
If you own a business or have a lot of enterprises, you may also want to assign someone with durable power of attorney, which will empower them to make decisions for you in any legal task should you be unable to make them on your own.
Come Up with Financial Strategies
Whether you’re running your own business or simply working on the front lines, you and the important people in your life need to come up with financial strategies should you fall ill. This can include where you’re going to get the money to pay for your health care. Which assets are you all willing to part with to fund prolonged hospitalization? Should you sell the car first or take out a second mortgage on your house? Setting these protocols up long before they become necessary makes it less hard for your loved ones and reduces the stress from an already stressful situation.
Contact a Legal Professional
Finally, it wouldn’t hurt to get the advice of a legal professional. Have a lawyer go over your affairs such as your will and check if everything is in order. This can help you spot any issue that could reduce legal entanglements if you’re unresponsive or worse in a hospital. Their help will also be necessary if you plan on changing your will.
Yes, it’s not pleasant to discuss what could happen when the worst happens. But bad things, like serious illness, can and regularly do happen, especially in these uncertain times. Not discussing the probability and how to handle such events helps no one. Learning how to set your affairs in order will give you and your loved ones some peace of mind in these troubled times.
Purchasing a house can be a long and arduous task, especially for first-time homebuyers. Unless you have help from wealthy parents or are making big bucks yourself, chances are that the process won’t be as smooth sailing as you’d like it to be.
Home sellers, for instance, may say no to your offer or give you an unfair deal. Another scenario is a mortgage loan provider not giving you the interest rate you need.
When the home buying process gets tough, how do tough homebuyers keep going? Here are a few tips you can follow to stay motivated, disciplined and focused during the entire home purchasing journey:
If your friends or family members aren’t supportive of your decision to purchase a home in the current market, hear their reasons and arguments. Then, check if the facts they’re providing are true.
Also, don’t get discouraged when people warn you with home buying horror stories. If you find out some buyers delaying or changing their home buying timeline because of a specific problem, this doesn’t mean that their situation will automatically apply to you. Every home purchase is different, so don’t assume that things will end up badly when you see one or two aspiring buyers not doing well on their journey.
Although you need to be realistic with the house you can afford to buy, this doesn’t mean that you should settle for the next cheap house you see on the market. When people become exhausted or frustrated from their house-hunting efforts, they often begin to lower their standards. This way, they don’t have to experience the hassle of searching anymore.
If you’re getting annoyed about not finding the home you want, never settle for less. Take your time and be patient.
House hunting in a demanding real estate market can be a challenge for a lot of homebuyers. Once you’ve found an ideal property, chances are that someone else thinks that it’s ideal, too. This results in bidding wars, increased prices and raised stress due to competition.
Instead of getting annoyed at other homebuyers for wanting the same house, take steps to stand out from the crowd. Make offers that property sellers can’t refuse. Also, see if you could submit an offer that’s slightly above the listing price. This is helpful if you want to purchase a home that’s in demand.
The real estate market isn’t always constant or balanced. Sometimes, it favors sellers. Other times, the market favors buyers. Get familiar with how the housing market works in your area. This way, you’ll face fewer surprises and disappointments during the home purchasing process. What’s more, you’ll know the ideal time to proceed with your buying transactions.
Placing your best financial foot at the start of the home purchasing process is an effective way to infuse positive energy into the entire buying journey. Start by coming up with a realistic budget for a new home. Make sure that you take into account the following expenses:
Having a sound budget will give you a good grasp of the range of houses you should be viewing.
As you’re getting ready to buy, you’ll want to work on your financial health. A few measures you can do include:
Many dream of having a house of their own. Unfortunately, not everyone knows exactly what to look for in a house. When they can’t find what they want, they may likely settle for a residential property that isn’t ticking off all the boxes. Eventually, they’ll end up hating their new home before they even get to unpack.
So save yourself from frustration and disappointment by knowing exactly what you want in your dream home.
A good way to do this is to create a vision board. Start by pasting a picture of a dream home on the board.
Alternatively, you could put photos of the various parts of your dream house, such as the bathroom, bedroom and kitchen. Then, add specific details to these areas. You could, for instance, write down that you want a sofa, a coffee table and hardwood flooring in your ideal living room.
By creating a vision board and putting up pictures of your dream home, you’re training your mind to stay focused on what you want to achieve.
A positive mindset makes a lot of difference when finding and buying a great home. When you need further motivation, get someone to guide you through this life-changing journey.
If you are looking to sell your home, you are obviously going to want to make sure that you get it right the first time. There is a lot that you might need to consider there, but one of the main things that most people want to do is to save a lot of money in the process. There are many places in the process that you find yourself having to pay out. Of course, you will always make it back with a good sale. But that doesn’t mean that you shouldn’t want to try and reduce your costs in the meantime, so that you can make even more from the sale. Let’s look at how you might be able to do that.
Most people will automatically go to a standard real estate agent when they are selling their home. While that might seem like the obvious move to make, you should bear in mind that there are other options for listing your home, and going for the first local real estate agent you see is not necessarily always going to be the most economica, way of going about things. If you want to try and save money on commission, look for a listing agent who will carry out a flat fee listing for you. That way, you know that the fee is not going to rise over time.
Think Like A Buyer
Part of the problem that many people go through in this process is that it is hard to detach emotionally from the home and see it as what it truly is, which is a product that you are trying to sell. If you are not detaching emotionally from the house, then it can mean that you struggle to put yourself in the buyer’s shoes, which precludes you from presenting the property in the way that will produce the most interest. This apparently simple change is likely to make a huge difference to how much you can sell the home for, so it’s an important thing to consider.
An important part of the process of selling a home is when you have to clean up the property to get it ready for others to move in. This is clearly something you can’t avoid, but it is generally the kind of thing that most people like to outsource to a professional team. While there are benefits of doing that, it is obviously pricier than simply doing the cleaning yourself. If you don’t mind a bit of cleaning, you might want to think about taking it on board yourself. You could save some considerable cash that way.
As long as you consider these essentials, you should find that you can save some considerable amount of money on selling your home. That will make the whole venture much more profitable, and will mean that you are going to get a lot more out of it in general. Be sure to consider these options.
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