The Covid-19 pandemic got so many people unaware. Businesses shut down and many people lost their jobs. But there are so many lessons that investors and entrepreneurs got from this pandemic. This piece highlights six of them:
It is good to invest and wait
They say it is good to invest and wait rather than to wait and invest. Those who had plans to invest but shelved them to wait on 2020 had all their dreams quashed for so many investment plans were disrupted and markets shifted. Most had to channel the cash meant for investing to cushion other ventures.
Have savings for a rainy day
The Covid-19 pandemic jolted our minds into realizing that tomorrow is a riddle. We do not know what will happen but we can always prepare for it. It might be the worst. It might be the best. But we have to hope for one as we prepare for the other.
Those who had savings managed to sail through the pandemic as most of the economies felt the heat of the pandemic. Those who did not have savings had to draw from their businesses, most of which could not sustain them for long.
In a time of crisis, do not panic
When the pandemic hit, so many investors panicked. Markets crumpled as many investors pulled out to “invest in safe heavens.” It was thought that the pandemic would just be a passing cloud that was meant to just linger around for a while. But not.
The pandemic has taught many investors that when a crisis hits, do not flow with the masses, sit, watch the spaces, think, consult the experts, and then make a decision.
Technology is king
The pandemic brought out the best in technology. It made many realize that technology is what will redefine the now and the future. Right now, it is not necessary to have physical meetings when people can hold them via tools such as Zoom and Google Meet.
The realization and the massive embrace of technology during the pandemic has helped many businesses save and cut on costs and streamline operations.
Buy and hold, then read the signs
Buy and hold couldn’t have been truer than this past year. Sometimes the best strategy in a time of a crisis is to do nothing. The pandemic made many realize that opportunities often present themselves in many ways and only those who have what people want will dictate the markets.