How do some Businesses Remain Successful during a Pandemic?

Witten By: Aman Reddy

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It is a common popular phrase said by many: “Small businesses run America”. In such a capitalist country, any sized business has a chance at success. Unfortunately when the Global Pandemic hit the world, the world or nonessential businesses was plagues with failure. As more people began to stay at home and participate in quarantine, many companies couldn’t keep up with the minimal to no profits made during this time and closed down. This common occurrence crippled the economy as unemployment and homelessness skyrocketed.

During the past few months, natural selection found the strongest local businesses staying operational while others had no choice but to close down. Although failures took place, specific businesses exploded and revolutionized their industries. Several industries such as: Home Improvement, Animal Products (pets), Home Beauty, Gaming, and most extreme, Fitness and health. Furthermore the fitness products industry expanded with a whopping 2,000,000% increase in customer interest. On the other hand some businesses that have boomed are ones who were able to put in the effort to move online as a business. For example, amazon had dominated the retail industry in recent times as all other competition fell due to lack of online support or were simply no able to expand quick enough to provide competition. This proves a simple theory for the future of businesses during the pandemic. It is explained by this quote by famous business magnate and investor Richard Branson:

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“Every success story is a tale of constant adaption, revision, and change.”

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This quote exemplifies the fact that for a company to be successful, they must be able to adapt to the new situation. Whether through advertising their safety precautions, merging into an essential businesses, or most effectively, moving online these businesses need change. While current business need change, the unique models and ideaS (ie. amazon, Tesla, apple) get room to grow. This is a prime example in the automotive industry as vehicles become less neccessary when people are staying home. Gas prices have diminished along with new automobile prices. On the other hand, companies such as Tesla are able to deliver unique products with a stable online market and fall of many companies in sales. In the end, when a business changes to adapt to the current situation, there is positive feedback in sales and customer reviews. In the new age what will cause the success of the business will be constant adaption to the demand. If you would like to see more information from my perspective on this topic, please listen to the Settle the Dust Podcast Season 1 Episode 1: Covid - 19.

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This is the second blog post for S1, E1: Coronavirus (COVID-19) on the Settle The Dust Podcast.