Sitwat Maroof     19th May 2020
The COVID-19 has turned our established order upside down. Indeed, old’s gone and new’s unknown!
Are you worried that with the economic downturn stream of projects will dry up? In these ambiguous times, it is no wonder that we are all feeling anxious about our freelancing careers. On top of which, some of us have the additional hassle of dealing with the out-of-school kids and out-of-office spouses together with the herculean task of managing supplies and supermarket runs. Gone are the days of peace and quiet that gave structure and productivity to our workdays as freelancers.
The current crisis at the global scale has brought all human enterprise to a screeching halt! So, we are fortunate enough to be still able to run our show but most of us are already feeling the burn of economic slowdowns. Even in the face of economic meltdown, our collective health should be our topmost priority at the moment. So, please follow the new healthcare guideline. Keep hydrated, wash hands regularly, practice social distancing, etc. Remember, we can only work when are able to work.
The good thing, however, is that we can navigate this troubled period together to secure our freelance writing businesses and manage COVID-19 pandemic induced fear of going under reasonably well than most workers out there!
First off, let’s get a few facts straight:
ü The onset of the COVID-19 pandemic has more or less turned the world on its head.
ü Nearly all countries in the world have gone into voluntary closedown to prevent the spread of coronavirus.
ü Social events, crowd gatherings, protests, malls, and supermarket runs, etc., all are the things of the past.
ü Global supply chains, businesses, trade, travel, etc., have gone into a tailspin.
ü The massive disruption of life as we know it has triggered mass scale panic which is engulfing the whole world.
ü We are now being labeled as “essential” and “non-essential” businesses and workers.
All of the aforementioned aspects are contributing to the emergence of new ground realities that we all must adjust with. Thus, we must move ahead bravely with our optimism intact to formulate a new plan to turn crisis into opportunity.
In this regard, the brightest spot in all this mess is the fact the freelance industry, on the whole, is as of now looking pretty dynamic with bare minimum impact. As we work from home anyway or from some other quiet and relaxed place, we remain in a good form to continue freelancing albeit with little changes here and there.
The most important thing to keep in mind in these trying times is that the global flow of money has been majorly disturbed due to pandemic. This factor is going to have an impact on the freelancing industry. We should hedge our bets and make smart decisions about our approach to changing realities.
Another step that we can take is to steer clear of the industries and sectors that are in the eye of the COVID-19 hurricane which are likely to weaken them further as time passes.
Those hard-hit industries are:
ü Tourism industry
ü Hospitality industry
ü Airline Industry
ü Events organization and management industry
ü Manufacturing industry
ü Transport industry
ü Tech industry
ü Retail industry
ü Entertainment industry
Even though the industries mentioned above are not the only ones that are reeling with the jolts of COVID-19 pandemic, they will remain the most deeply hit economics segments for at least a couple of years. They will continue to experience spending cuts and the steep decline in profits which will seep into their capacity to hire freelance writers.
So, here are my suggestions:
ü Change Industries: If you are active in any of the above mention industries pre-COVID-19, it's time to cut potential losses and run. Break into sectors that are booming and will expand further as a direct result of the new work order that is to come.
ü Acknowledge Crisis and Accommodate: If you continue working in the said industries, make sure you revise your approach to incorporate factors related to COVID-19 and innovate your services suitably with gain maximum return. Instead of agreeing to work on lesser rates, up to your services game via new skill and creativity.
And now, we focus on the other side of the coin, which is of turning crisis into an opportunity of a new beginning. You can get into booming industries to fill the gap in the demand and supply equation and protect your freelance writing business. This way you will not only secure your existing business but will get to expand it further in terms of experience as well as better rates. A win-win to pack in more earnings, experience, and skills.
Some of the booming industries are:
ü Healthcare industry
ü E-commerce industry
ü Food industry
ü Gaming industry
ü Mortgage and lending industry
ü Beauty industry
ü Wellness industry
ü Delivery industry
ü Finance and Fin-tech industries
ü Renewable energy industry
ü Home appliance and equipment industry
ü Streaming industry
ü Fitness industry
The industries mentioned above appear to be holding their own in the face of an economic crisis as a direct result of coronavirus pandemic. So, it is a good idea as well as time to make a switch into these resilient industries at the moment.
Sitwat is a technical writer of significant expertise and experience. She has written on the subjects of futuristic technologies, web/software development, cloud computing, cyber-security, data science, amongst others. She assists clients to reach their targeted audiences successfully.