Decline (and closures) in pandemic induced new businesses

Every generation needs a revolution - an entrepreneurial revolution

This post has observed decline and closures in businesses that flourished during the pandemic:

        1,  Coffee shops

        2.  Eateries

        3.  On line shops

        4.  Courier delivery services

        5.  Bicycles

Some industries flourish because of crisis.  When crisis is gone, the opportunity and the opportunity, and hence the business disappears.  

What is an economy?

Every generation needs a revolution - an entrepreneurial revolution

The word economy is a big word.   We go back to Adam Smith.  and many other Economy guru.  

We talk about macro and micro economy

This post would tend to favor micro.  It is about a buyer and seller changing goods and currency, from producer to consumer    The activities could  be less or more. or plentiful

Growth means more transactions, stagnation means same number of transactions.   Decline or recession means less transaction

Sales activities have something to do with economy.

Sales makes the economic world go round.  

Marketing and sales experiences are important for starting a business

Every generation needs a revolution - an entrepreneurial revolution

I was a pharma promotion rep (a detailman) for 5 years before venturing on new businesses.  I was assigned to two specialty hospitals  One was a teaching hospital operated by the religious which I covered 4x a month.  And they were difficult to cover with odd hours available for visit:   after  1 pm, or 6 pm.  The other was a govt run orthopedic hospital

The experience gave you persistence, self initiative, self discipline, and being goal oriented.  There were sales targets and lot of planning and itinerary.   

Many detailmen I knew went into business, and many were successful 

I too knew that I would be successful if I went on my own. 

The first venture we had was starting a savings and loan association   I did not have much banking experience but I used my pharma experience:   1.  to recruit and organize my team   2.  to set goals and plan   3   market the bank to the public,   4.  expand the offerings to the public:    new loan products 

and thinking of how to make the residents wealthy by saving more and giving them more income 

opportunities:   like going abroad, the govt agri projects