According to my opinion are this is a Bounce Back
Way of life going forward will be:

What will change during the slow down:
1. Spend on luxury will come down drastically
2. Long-term / Capital expenditure such will be almost cut to nil
3. Lifestyle expenditure such as salary, rent, entertainment, travel will be minimised
4. Working capital will be under tremendous pressure.
5. People will shy away from taking credit/mortgages unless absolutely necessary
6. Personalised services like hotel, restaurant will take longer time to recover
7. Socialised and event based business models like malls, cinemas, event halls will be a hard hit
8. New innovative business models around tech and AI will evolve
9. Businesses around cleanliness, waste management, medicines and affordable healthcare will grow

What will NOT change during the slow down:
1. People consumption on essentials will continue
2. Rise in Investment on ideas / technology solutions that will improve efficiency
3. Businesses with healthy cash flow and minimum or no leverage will thrive
4. Rise in investment on spiritual / self-learning practices
5. Value for money products / services will shine

What you should do as an individual:
1. Hold back any luxury / high risk investments where visibility of returns is difficult to predict
2. Minimise expenditure on the routine stuff – keep a watch on your lifestyle spend – ask the question, is it really necessary!
3. Develop yourself on improving competency and skills to become more sharper and more efficient
4. Share the financial situation with your family members and educate them on the family financial position and the plans to improve
5. Invest – yes invest in right business models. Take risks based on thorough research. This is not the time to follow tips.
6. Spend more time with yourself. Yes, spend more time on things you missed during the race. Be it family, study, music, spirituality …

Nothing is constant
We are in an ever changing world and even this situation will change. Economy will shine again. Lets us get smarter by helping ourselves and be ready when economy Bounces Back.

Categories: Opinion

Bhumika Badjatya

An MBA postgraduate with specialization in HR & Marketing domain.

17 Comments

Naman Patidar · April 7, 2020 at 11:19 pm

It’s a huge pandemic.
And i agree with you Bhumika.
We support for fight against Corona Virus.
Nothing is permanent in the World and Have trust and faith in God.
God will change the situation.
Good luck Bestie??

SUSHANT SINGH · April 7, 2020 at 11:38 pm

Very nice. I appreciate your thoughts and thinking ability. This blog help to understand the affect of corona virus on economy very easily. Good job, greatly done.

Abhishek · April 8, 2020 at 12:17 am

Good think for future

Rajat Talreja · April 9, 2020 at 5:26 pm

Nice work!

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