When COVID-19 started to hit in full force in early to mid-March of this year, I had a wave of panic wash over me. I found myself thinking…
“Will our client’s businesses get through this shutdown?”
“Will our clients have customers who can still afford their products?”
“Will Evolved Finance have to prepare to downsize?”
Luckily, those doubts didn’t last long.
Corey and I had always speculated that online businesses would be particularly recession-proof (at least compared to other businesses), and we are so happy to see that hypothesis has proven to be mostly correct.
Although we have seen some of our clients’ businesses struggle over the last 3 months ( a couple fell apart after only a month), most of our clients have quickly stabilized, with many of them even thriving during these tumultuous times.
This roller coaster we’ve been on as business owners over the last 3 months has made me think a lot about not just the “pros” of operating in the online space, but also made me aware of the “cons” that I think we have to keep in mind as we continue to move through an ever-changing economic landscape this year.
So for this episode, we discuss:
Why online businesses have done so well during COVID-19
How online businesses are uniquely suited to changing working conditions
Why Silicone Valley is taking notice of the profit margins in online businesses
The “pros” of running an online business that make it so lucrative and fulfilling
The “cons” of running an online business that we all need to be aware of and manage