What is an essential business?
We hear a lot about essential businesses these days.
But what does that mean?
Exactly everyone from Hobby Lobby to GameStop have been pushing
their local governments to be labeled and essential business.
That's because during this coronavirus pandemic the only
businesses that are being allowed to stay open in a lot of
u.s. States are essential businesses.
So what does that mean?
Are you an essential business?
Am I an essential business are we allowed to even be operating?
What's happening?
I want to talk about that in this video Let's dig in and
figure out.
Exactly what they mean when they say essential businesses.
I've done a lot of research on this every state is different
and actually even cities are different Portland.
Oregon has some laws the other states have other laws.
Everyone's got different laws, but essential businesses across
States fall into these four categories groceries Health financial
services and utilities.
If you're in any of those businesses, you're safe.
You're essential go for it the rest.
Rest of us as long as we don't interface with the public
are also safe including a lot of restaurants as long as they
switch to take out or curbside pickup or delivery only that
also means that digital agencies or software businesses.
Like we run are totally safe because we're remote we don't
have an office.
We don't have people in close proximity to each other so
we don't have to close.
We're not an essential business, but we also do not have
to close everyone else.
You might have to close your door.
If you're a comic book shop or your a hotel, you're going
to have to take a break and figure out what to do and there's
not really good government assistance right now in the United
States. So that's got to be infuriating you have to be so
mad right now.
There's not much to do honestly just kind of ride it out.
That's that's it.
If you're not in the central business, but let's move on
to the next point in this video.
What does that teach us?
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All right back to the video.
Future you want to one try to be an essential business and
the questions to ask yourself and what I'm thinking about
for new businesses the fact that some businesses aren't closed
and they're so needed means that their demand is so high
or there.
So consistent regardless of market conditions that these
are the businesses to try to be in right if you're looking
for business ideas anything regarding groceries Health financial
services or utilities are extraordinarily safe.
I'm surprised they didn't mention real estate here because
landlords are also still ranking in the rent for the time
being Mmmmm.
So the first thing is you want to try to be an essential
service. Meaning you need to ask is your business needed
by the core of society all the time.
If it is you're probably pretty safe regardless of market
conditions. And if not, you're not as safe.
That's it.
If you're in services like we are you're not as safe.
We in business services are actually one of the top 10 most
affected Industries.
According to McKinsey.
One of the largest Consulting companies.
The second thing to ask is are you stuck in one location
businesses that are on the Annette are easier to move if
economic situations change for instance, if the worst happens
and America stops being a good place to do business.
We could sell to Europe or India or Australia or Asia without
a hiccup focus on being hard to kill and you'll survive these
future pandemics and that means not having an office.
That means being remote being lean following the recommendations
in the rest of our Pandemic series.
We made so many videos now about the pandemic how to get through
it how to set your business up.
Up, if your business failed how to set it up the next time
so that you don't get hit by something like this.
This is a really good opportunity for all of us to learn.
Even if your business fell apart.
You have to go get a job.
Now you can use that time spent at the job to work on your
new business.
You can be out of that job within three months and running
your own company again, it's not that hard to begin again.
Maybe watch the movie Begin Again.
Honestly that always gets me going to Mark Ruffalo gets thrown
right out hasn't found a pop star in years thrown out of
his own company and guess That night he finds his star and
he begins again.
Just like you can begin again after this coronavirus pandemic
focus on being hard to kill and you will survive any pandemic
in the present or in the future.
If you want to get more clients and or start your online
business check out e-mail 10K.com.
It'll show you either if you have to get a new job.
It'll show you how to escape that job quickly or if you want
to start getting clients, even right now during the pandemic
it'll show you how to find a business idea and find people
that are paying right now how to approach them and how to
close Them check that out at email 10K.com make sure to give
this video a like to encourage the YouTube algorithm.
Thanks for watching.
I'm Alex Bradley.