We all started on 1 January 2020 as usual 1 January in a typical year. However, here we are ending the most chaotic year in ever recorded history. We had to suffer two COVID-19 waves currently and thousands and thousands of people lost their jobs while millions lost their loved ones.
2020 taught the world a quite lot of new lessons which 2019 or so did not teach. I have summarized some of the major lessons below so that we can take these to our years to come.
01. Digitally delivered and adoptable business models won the game
The majority in the world (if not a part of essential service) spent their 2020 at home due to lockdowns. Hence, business, offices, restaurants, cinemas, hotels, villas you name it, had to close down. However, the business models which inheritably able to convert to digital platforms could be able to carry out in a limited or normal manner. This is where Work From Home (WFH) comes in place. Zoom and MS Teams took over the internet and even homes.
A remote working environment is not strange for software and all the Silicon Valley companies. However, this was a nightmare for other companies which was strange. WFH arrangements ate up the personal time of employees. The majority of the employees did not do anything other than an all-day conference call. I will write some article on this later.
The worst part was that the business which could not inherit online working and delivering environment had to dismiss employees and to exercise pay cuts and no bonuses policies. Hotels, Uber, and other driver platforms, restaurants and resorts, local stores, and other domestic shops which did not have online delivering platforms had to suffer the loss.
“Does not matter if you are a CEO or head of a big corporation unless you don’t produce essential products or provide essential services to the community. We need food and essential services to survive. Save life first, then enjoy it”
02. People had more time to stay with their families to understand each other
As a consequence of lockdowns, people had to stay at home and had more time to spend with their loved ones. However, this is a two-sided coin. The good part is, the average family spent most of the year happily even though there were some financial difficulties. the bad part is, the misfits had to stay together and spent time more than they used to be. Hence, the war began internally.
During this period, people started understanding their abilities and found lots of ways to kill their boredom. They started quite a lot of new YouTube channels, TikTok accounts, SkillShare accounts, and so forth.
03. People started leaning new skills
Since the world had time due to the long holiday, they started learning new languages, software development, video editing, and more importantly cooking.
In conclusion, there are a few important things to be noted. Firstly, it should note that either doing business or doing a so-called secured job won’t ensure pandemic survival. The world has become more complex to predict. Hence, a solid solution is required. One best solution is to ensure you are doing a job or a business that can be adopted during any situation – Netflix, Blogging, YouTube, Stock markets investments and etc.
One more solution which I would suggest is to invest in Passive income sources such as Fixed deposits and fixed-term bonds secured by Government. COVID-19 pandemic is not a Doomsday situation which leads to the belief that money has no value anymore. Hence, the most suitable way of surviving during the lockdown situation is to let money work for us.
” Let money work for you, don’t work for money” – One major lesson taught by 2020
As the final conclusion, I would recommend not to stop learning despite pandemic or not. Knowledge itself is power. Further, never trust those corporations even though you worked for them for many years. Still, you are replaceable with software or can discontinue any given time.
Always have a contingency plan with a contingency fund. This saved many lives till they settle in the normal condition. I will write an article on jobs and business ideas which is futuristic for years to come.
Wishing you a happy new year. Stay safe! Stay Creative! Never stop chasing. May this year be a financially sufficient year than 2020 alone!