The impact of Coronavirus(CoV) on affected areas is significant. The city of Wuhan is now a ghost town. As of today, 6th February 2020, the total number of deaths in China is at least 636 and the total number of confirmed cases rose to 31,161. (Read this for more information on Coronavirus and you)
The economies of cities where there is infection suffers and slows down as people stay home. People stay away from large public places and events. A sneeze or cough will be looked upon with suspicion. If you have voluntary self-quarantine practices of 14 days, that would mean 1/2 month of worker availability gone and may add to business costs if you need to hire a temporary worker. Therefore an increase in cost with a corresponding decrease in revenue opportunity just to keep your business going.
I worked for a company who owns a cruise business when SARS hit in 2002 – 2004. The business lost money for 3 years as nobody wants to be trapped in a cruise ship with risks of getting infected. As I was writing this, a total of 61 people on board a cruise ship quarantined off the coast of Yokohama have tested positive for the coronavirus, as the Japanese health ministry announced 41 more cases on Friday (Feb 7).
The company I used to work for managed to turnaround their business but I am telling you they will face the same scenario with Coronavirus (CoV) for the next 12 months at least. Many businesses will face similar business challenges. The Financial Times reported that Yum China, which runs food franchises says the Coronavirus could wipe out 2020 operating profits, as they temporary close 30% of their restaurants. Comparable sales since Chinese New Year for the stores that remained open, sales slid 40-50% compared to last year due to weaker foot traffic and shortened hours.
Many businesses that need to pay rental and wages will be out of business if there is no income. It is not sustainable.
Every year, all of us must deal with all types of influenza ‘flu’ viruses regardless of where we live. Catching a flu and cold is very common and we some of us take annual vaccines as a precaution to ensure we don’t catch it.
As a business person, you may want to consider an alternative to complement your brick and mortar business or build yourself an Online Business. There are many online business models but for the purpose of this article, I would refer to Affiliate Marketing as it is the easiest to setup.
An online business is free of any influenza virus infections.
Yes, build your online and never catch a cold or flu from any of your millions of business visitors from the world over.
Below are 10 benefits of building your online business. Some of the benefits goes beyond bug-free and are really a SMART business decision.
The benefits are:
- Zero Touch – There is zero touch contact so no worries about infection.
- Zero Commute – No one needs to commute to work and you work from wherever you want. therefore no worries about crowds or public infection.
- Work Anytime – You can plan your work whenever you want which gives you flexibility to attend to different priorities in life.
- Always Open – There is no standard business hours and you don’t have to close your business for any reason, even Coronavirus. It runs 24 x 7.
- No Rental – A crisis like Coronavirus will mean no little business for months while you continue to pay rental. Some businesses may not survive these costs without regular revenue if it continue for months.
- No Inventory – You don’t have to worry about logistics, stock keeping and no returns or complaints.
- No Selling – This is great for people who hate to sell. You are recommending to people by writing about your experience, who can benefit or find value from the product and helping people find solutions to their problems.
- Don’t Need Your Own Product – You don’t have to worry if you don’t have a product. There are millions of products paying commissions to people who would write about them and promote them. Sometimes the products they buy have nothing to do with what you are writing about. An example is someone add a product from your link to Amazon and buys other products. You get paid for the entire basket purchased.
- No Financial Ceiling – There is a limit to your pay and you only get an increment once a year. In the affiliate marketing business, there is no ceiling to how much you can make. If you are able scale your traffic and get many purchases, you will make a commission from all of the sales.
- Low Cost to Get Started – You can get started for $0 with a starter account. If you want to build a long term sustainable business, then you need to make some investments to host your income websites as well as acquiring the knowledge and skills to build your business. This comes at less than the price of a coffee per day.
If you are still considering about starting an online business, I hope this 10 reasons are good enough for you to consider a business model that would survive any influenza virus threat that can challenge even successful businesses.