Welcome to the business, post-Covid. The world will not be the same for a long time.  Things have radically changed and are not going back to normal.

As you keep reading on the Internet and hearing in conversation... there is a new normal. 

I’m sad to say that we are in a depression, and even after we emerge from this depression (likely not for at least a few years), it will be years before people get back to “normal”.

Maybe even generations!

If you have ever known anyone who lived through the Great Depression, they were a different breed of person. 

Mentally tougher.  More willing to let people deal with the consequences of their actions. More self-reliant.

As the song goes, “Grandaddy was a hillbilly scholar, blue collar of a man.  He came from the school where you didn’t need nothing if you couldn’t make it with your own two hands.”

That kind of mentality is going to be more common.  Specialization is going to diminish, and the society is going to be far less disposable.  People will be keeping things far longer and be far less interested in buying to show off as opposed to being able to show off because they are stable and secure in their home and property. 

In short, when we come out of this, people will be more traumatized than we might think right now.

But don’t worry because there is tremendous opportunity for forward thinking and proactive entrepreneurs, like the readers of this blog. 

Of course, it will require you to make some changes in your approach to business, and some changes in who you are targeting.

Your systems will need to change.

But if you are willing to do the work, you can become very rich.  Remember, more millionaires were made during the Great Depression than during any other equivalent time in the history of the world. 

We are in a similar spot, only the opportunity is magnified thanks to technology and our ability to communicate across vast distances instantly. 

We’ll talk more in the next blog about how you need to ensure your business survives in these times.

Parthiv

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