In previous episodes in this series, we've discussed what you can do on a personal level to thrive in the current crisis, as how strategic thinking has to change in times of great uncertainty. In this episode, we take a clear-eyed look at opportunities that will arise from the crisis.
Every crisis and every recession causes all kinds of damage, but they also give rise to new opportunities. And since keeping economic activity going is in the interest of everyone, as entrepreneurs, we should be on the lookout for such opportunities. Ideally, we can add value to the world while maintaining or growing income for ourselves.
In this episode, we discuss:
- How and where to look for en-masse behavior changes that will give rise to new business opportunities.
- The two filters to apply to any potential opportunity you find.
- Why friction is one of the most important things to pay attention to, right now.
- Short runway and long runway solutions for capitalizing on new opportunities. (more on the runway stuff here)
- Why I believe that "piggyback businesses" are one of the best business models out there.
Plus, we run through many practical examples of existing and potential businesses you can model.
I hope you find this content useful. As always, if you have questions or ideas to share, please leave a comment!