New opportunities

 COVID crisis has changed our lifestyle, manners and consumption patterns in unprecedented manner. However, every crisis also offers an opportunity. An opportunity to rethink, redesign, reinvent and reposition yourselves. This article explores some of those opportunities by reimagining how the work culture and lifestyle would change in near future.

Education: “Online education is new norm of education”. The trend had started long before Covid Crisis but now it has picked serious pace. People have greater acceptance of online means of education now. For universities and private tutors, this means greater reach to masses. For students, it means better access to world class content. For a new business seeker, online education counselling to help students in selecting the right content and help in designing their course content as per their caliber could be a good business proposition. Similarly, people often lose steam in following online courses hence a business can offer Motivational Assistant Services under which a personal coach could keep track of your progress and guide you appropriately. Similarly, preparation of Interactive Multi-lingual Content Creation could be a new arena for people in the field of education. The vacated space in the universities can be utilized to convert them into research institution and industry workshops.

Corporates: “Work from home is new norm of white-collar corporate life”. Just look at the benefits like reduced rent rates in cities, decongestion of big cities, reduced expenditure on fuel, saving of travel time are big plus.  Companies can save the huge rental cost and employees can end up saving more. This is a great opportunity for furniture and interior designers. Setting up a cost-effective custom office in the house itself could help companies in saving huge money and can also allow people to work from the comfort of his house. Internet provider companies can also make huge money in such set up. In sync with the vision of our PM, I-ways will become new high ways of economy. For those who miss the office gossip, companies can use the money to host small events, get together and help people meet once in a while in person by planning tour trips. Rental income as a business may suffer but it will also bring down the cost of real estate and allow middle class to afford a house. Thus, in long term, it is expected to balance out.

Manufacturing: “Made in India is the new norm in manufacturing”. The crisis has made us realize that self-reliance is the best growth strategy. The crisis has created a shortage of Chinese goods in the market hence there is an opportunity for manufacturing and assembling in India. For example, in a large country like ours there is not a single prominent Indian brand in TV, Fridge, AC, Microwave, Security surveillance cameras, hydraulic chairs. This would drive our businesses to take plunge in these unchartered territories and grow big.

Services industry: “Restart and reorientation around technology is the new norm in service-based industry”. Services industry is among the hardest hit from the disruption in economic activities. The need of hour for a service provider is to find a new job-market fit. For example, if tourism and marriage economy stand busted, the security camera installation services, healthcare services, corona care services like fumigation, food packaging services, data center services, home shopping services, resale of goods, Indoor sports training services etc. are likely to get a boost.

Restaurants/Retail stores/Street vendors: “Home delivery is the new norm of the restaurant business”. Restaurants should retrain their waiters to become delivery boys. Slowly the food economy around health conscious and hygienic diets would gain traction among people and even when things will normalize, the home delivery would be a preferred option among people. People can operate restaurants from their home. The crisis has opened a huge economic opportunity around food hygiene. All the street food vendors could be mandated to follow hygiene norms and they could sale their food through branding, packaging, online/telephonic sale and delivery. Same is the case of e-commerce of retail shops.   

Administration: “Faceless is the new norm”. Corona has provided a huge motivation for offices to adopt technology. For example, Income Tax Department is at the forefront of the process and adopted a faceless system. Under this a majority of department can operate from their home. Similarly, adoption of e-office, installation of firewall, VPN setups can allow many government officers to work in invisible manner. Just imagine, if police department and district administration also become faceless. People won’t have to go to headquarter office to get a signature. Entrepreneurs can provide an Administration Connect Service, just like we had PCOs and Cybercafé. Private vendors can open the last mile end points and these points should help people to connect with district administration to file complaint, get digital signature on a document etc.

There is no doubt that income corrections would happen due to Covid crisis but possibly it will make our country more equal. There are endless possibilities lying unexplored in our nation. Whatever was considered hitherto impossible has now become possible.  A change which was happening very slowly earlier, has now picked pace be it education, e-commerce, manufacturing etc. The first step to recover from Covid shock is to innovate and reimagine our lives in covid and post-covid economic system at all levels be it government, business, employee, student or a general citizen.