Business in the time of Recession (as in the novel name "Love in the time of Cholera" :) - so much for inspiration)
IT is an enabler not a business in itself – it enables other businesses to thrive – there is a good and a bad part to it. Bad part is once the actual businesses shut down this one also dies – sad :( . Good part is since it is a tool it will always be in use as long as someone capable enough knows how to use it. Meaning recession or no recession – businesses will always be there so as long as IT blends itself to newer roles it will survive. (Tools never become useless). For a company working in IT – all we have to do is stay watchful and be open to options – work will always be there.
So lets think of industries which will do good also during recession plus companies which will rise during recession. Once we start working for these type of industries we will stay in business infact if we hit on the growing ones we will do good too. Lets list the obvious ones -
Education sector – Recession or no recession colleges and schools will continue to run and in turn IT comapnies catering to their needs will be in business. Out of this the ones "selling" specialized courses might get hit like MBA colleges but basic ones – Engg ones will always be there. No parent would discontinue a child's education. We have to stretch this sector and look for all types of education 'places' – and attack aggressively.
Food and Beverages industry – Lets not include entire hospitiality sector – hotels will be badly hit and so will be the high end restaurants. Normal ones will survive.
Co-operative societies – like the ones who procure from weavers, jwellerers , farmers, etc and sell – they will cut down profit but since they cater to basic needs at affordable costs they will catch up – so will survive.
Umemployment will hit health of people – there will be more hospitalization – insurance companies will be badly hit but hospitals will survive. Might cut cost but will stay in business for good.
Government sponsored programs will do good (money is there) but this is quiet a big area – big players will be killing each other to get a pie – drop .
I can list down more but no point – optimization is the key ...that includes optimization of my grey cell usage too :) . So lets analyze more on point 1,2,3 and 4 – infact 4 is a little far fetched so 1,2 and 3 with 50 %, 30 % and 20 % focus respectively.
Education sector
Play schools – with job losses parents will have enough time to take care of kids so this is not a good area.
Elementary schools – these will be in business for sure. So we need to identify schools and try not only servicing their needs but also if we can come up with innovative products which might help schools to save cost and add value by using IT it will be great. Again we need not do the thinking, there are enough people in the system doing it – we just need to reach out to schools - they will be interested. Everyone likes a smart thing which costs less (it gives them double kick – one is they save money second is it makes them feel smarter ).
E-Learning companies – they are quite successful and will continue to be so targeting them is a must.
Universities – Too can be tried.
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Another industry I missed – Social media apps and games. Considering the fact that most people would be laid off – what best thing left for people to do than engage in social media and play games . Hard core games are not for all but social media app type games are the best. Infact games or apps like "What job is best suited for you" types will be very successful.
The ageless industry ofcourse which we wont work for (on ethical grounds) will be always hot and successful – sex industry. Post last recession a survey found that sex among couples increased a lot during recession – what else costs nothing and is entertaining :).
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Continuing with the earlier analysis :
Next ones are F&B and Co-operative society type companies. Again here too a little research and targeted campaigning will help. We would have to list down small and mid sized ones and then approach them.
