Business Opportunities From COVID-19

With the COVID 19 pandemic now affecting the entire world, we need to be prepared for the upcoming changes that it will bring to those who don't get sick. This implies huge shifts in the way we work and how we make a living.  Unfortunately, with businesses being closed down, many people are going to be without pay or worse without jobs.

The good news is that there are other jobs that are going to be created in other industries and will most likely thrive throughout this crisis. Here are a few things to watch out for.

Remote work will finally become more widespread.
In order to reduce the spread of COVID-19, many companies around the world have either had to close their doors, or have made it mandatory for their employees to do their work from home.

Businesses will realize after a couple of months of this that they can trust their office-dwelling employees to be just as productive when working from home.  The existing technologies for video conferencing, IP telephony, IT security and cloud computing will allow employees to do that.  So it's very likely that most companies will end up wanting to save on real estate costs, commute times, and absenteeism by no longer limiting "work from home" to specific roles (sales, consultants, virtual assistants, web developers, IT support, podcasting, etc.).

What might be interesting here is that many more jobs will be created by large businesses who won't need to hire locally because the job can be done using the right technology.

The rise of Virtual Training / Learning

This kinda relates to the point above about remote work, but with the same technologies being used for leisure. With gyms, yoga and dance studios, martial arts schools and other activities with big groups of people being shut down temporarily, it won't be long before virtual classes rise in popularity. Sure some people can follow YouTube videos for instruction, but having an instructor who can see you and correct what you're doing in real time without the risk of catching a virus is the next best thing.

The same goes for other education. With schools and universities closed down, lectures and homework are now being made available online. Again, with the technologies now available, expect to see more and more flexible, web-based, academic programs.

While these virtual classes might not replace the real person training when these locations are finally allowed to re-open, they will make for great supplementary material and additional income streams later on.

Delivery services will become more streamlined
The risks of spreading viruses by going into crowded spaces to shop will create new jobs in delivery services. Whether it's groceries, restaurant food, toilet paper, soap, alcohol, cannabis, or any other necessity, the fact that most people will need to stay home will create an even greater demand for delivery services. Yes, companies like Amazon, Uber, FedEx, UPS and of course the post office already have massive networks to deliver to your door.

However, with demand rapidly increasing, other companies will invest and innovate to further improve these delivery methods making it much easier for customers to get something sent to their door. With summer coming, we should also expect more and more local niche entrepreneurs offering delivery services that can promise faster delivery times than the logistical behemoths.

Streaming Services and Podcasts

Entertainment is going to be incredibly important with people staying indoors. Whether it's bored kids or adults needing escapist entertainment from the doom and gloom news stories, we're going to need something to distract us.

Getting easy access to Internet-based entertainment is going to be crucial.  We've already seen huge jumps in subscription numbers for Netflix, Amazon Prime video and Disney plus.  YouTube had to reduce their video quality to save bandwidth, expecting a higher volume of streaming.

So if you're a vlogger, a podcaster, a YouTuber or any kind of web content creator, the opportunities to build an audience and eventually monetize is bigger than ever.

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I am very thankful for being one of the lucky ones who has the ability to work from home. Yes the current pandemic has caused the loss of plenty of jobs. Instability and uncertainty seem to be the norm.  Despite all the economic doom and gloom news, there are going to be new opportunities for small businesses and entrepreneurs to pivot.  It's going to be possible for many of us to thrive during a crisis and come out of it stronger than before.

Are you a cheater? It's never so cut and dry.

"Cheaters never prosper".
"Cheaters never win.  Winners never cheat."

We've been told this since we were kids. Competition is important, but what's more important is to compete honestly and fairly.  We were taught that cheating is wrong and that even if we benefit in the short term, in the long run we lose.

That's debatable.

What's more fundamental really is defining what actually constitutes cheating?  Where do we draw the line between cheating and simply being creative within the confines of the rules?

Let's take sports as an example. In most high-level competitions, athletes are not allowed to take certain substances that modify their bodies' chemistry and allow them to enhance their performance. However, athletes are allowed to do resistance training and cardiovascular exercises.  Those activities will result in changes in their bodies' chemistry, composition, strength and endurance. This will eventually enhance their performance. The latter's not considered cheating, but the mechanism is pretty similar (albeit slower).

What if an athlete drinks a couple of cups of coffee or takes a "pre-workout supplement" filled with stimulants right before starting a resistance training work out?  Their body chemistry's changed.  They're more stimulated and able to lift more weight, for more repetitions, and for a longer period of time.  Being able to work out that way will of course have the result of enhancing future performance. Is that cheating?

Let's take it a step further.  When it was finally proven that Lance Armstrong was on PEDs when he won multiple back-to-back Tour de France races, they cycling association tried to award the win to the cyclist who came in second place.  Except that guy was also on PEDs.  So they tried to give it to guy in third place, who they found was also on PEDs.  They had to go all the way down to the person in 17th place or something similar to find someone who wasn't "cheating".  But in that case, if almost everyone is on PEDs, can we still say that it's cheating if someone gets caught using prohibited substances?

Or what about in business?  Sure, there are rules and laws to prevent quid pro quo practices and ensure that no bribery or corruption happens to ensure that competition between companies are fair when interacting with clients.  But ask anyone working in a sales job about "relationship building activities".

Can you consider having a meal or even a coffee with clients a quid pro quo practice?  What about organizing and sponsoring special events for clients?  Or inviting them to your company's special private box at major sporting events and concerts? Or how about paying for a round of golf with a client? Can we honestly say that businesses aren't engaging in these activities to get something in return from their clients?  If so, is that really cheating or just improving business relationships?

It is possible to set rules to ensure that specific behaviours are discouraged and cheating is well-defined. Sure, you could work perfectly by the book all the time to ensure that you're not cheating. The problem is, when you're trying to win at such a high level, no matter what the field, your competitors are going to be operating within the gray areas between the strict application of the rules and cheating. So if you decide to stay away from that area, you're putting yourself at a disadvantage.

The Best Type of Exercise to Lose Weight and Stay in Shape

If you've managed to keep your resolution and you're still on the "I'll exercise more" train, good for you.  If you've been able to create a habit of exercising, you're probably wondering now how to kick it up a notch. You're now in the stage of "researching" the benefits and advantages that some types of exercise have over the one that you're doing now. You want to see if there are other ways to get to your fitness goals faster.

A lot of research in exercise science has been published over the last couple of years on the types of training modalities that might be the most effective at causing fat loss, building muscle, improving cardiovascular health, preventing injuries, increasing joint mobility and flexibility, etc.

Some will tell you that training for long endurance events like marathons, triathlons or obstacle course races is the best for overall fitness.  Some will say that you just need to take daily walks and you'll be fine.

Some studies will say that it's more efficient to use different versions of high-intensity interval training (HIIT) where you go all out for short periods of time followed by rest or active rest periods. Other studies will say that resistance training using barbells, dumbbells, kettlebells, resistance bands, or calisthenics makes the most sense.

Many will loudly advocate that a specific combination of resistance training and high-intensity training by going to Crossfit, Orange Theory, or a similar type of box gym is the best way.

Others will say that picking up a sport, a martial art, a dance class, ultimate frisbee, pole dancing, yoga, or any other activity that "tricks you" into doing physical activity works the best.

All of these activities can be beneficial and can contribute to your overall fitness and health.  But which is really the best?

Ready for the secret?  Here goes:

The best form, modality and type of physical exercise is the one that you actually ENJOY doing.

You could have the most meticulously-written training program composed of exercise modalities backed by multiple scientific studies along with the most motivating trainer money can buy.  If you don't actually enjoy that exercise program, you will never do it consistently and you will give up after a few weeks.

Even if the exercise program is not perfect, if you enjoy the physical activity that you're doing, you are more likely to consistently do it for a very long time.  That means that in the long run, you will reap the benefits of physical activity, which includes improved general fitness, longevity and health.

If you're practicing a specific sport and you want to improve performance for a competition, then yes some training modalities will make more sense than others. There are even modalities that will get you in great shape after 12 weeks, but you won't be able to physically sustain them for the next 12 years or more.  So after those 12 weeks, you're very likely to yo-yo between being in great shape and being unhealthy or injured.

For general health and fitness, if you don't enjoy the activity in question, you won't do it.  I love practicing martial arts.  Riding my bicycle daily during the spring and summer months is fun for me.  I enjoy using heavy kettlebells and calisthenics to build physical strength.  I've very recently discovered that ballroom dancing with my spouse is a lot of fun.

For some people, all these activities sound like a nightmare.  So while they can be beneficial, they'll never do it.  Because I enjoy all of these things, I am more likely to do them for a very long time.

Will I look like a fitness model with 2% body fat on the cover of Men's Health magazine?  Possible, but not probable.  Will I keep my body healthy, strong and hopefully free from serious injuries until I'm in my 70s or 80s? Very likely.

The point is this: if you're looking for the "best" way to be in good physical condition for the rest of your life, there really isn't one.  There is such a thing as the "best one" for you.

Excellence Means You Can't Live a "Balanced Life"

In a previous post, I outlined the simple, 2-step formula to become good at anything:

1) Practice a lot
2) Put in a lot of conscious effort to what you're practicing

Here's a revised version of the formula, if you want to become THE BEST at anything:

1) Practice exponentially more than before
2) Practice with conscious effort and nearly singular focus

3) Be lucky

Assuming you have the luck required, you will also need to drastically increase the amount of practice you do.  Because of the increased amount of practice required, you'll have to sacrifice time for other things: social life, sleep, time with family, leisure activities, etc.  You are focused almost entirely on whatever it is you're trying to be the best at.

This is true no matter what profession or field you want to become the best at.  Whether you want to become the most renowned neurosurgeon, the funniest stand-up comedian, an Olympic gold medalist, the most successful CEO, an elite professional hockey player, the most published and cited academic, or a world-champion MMA fighter, you will have terrible "work-life balance".  You'll need to sacrifice a lot of time not only to reach the pinnacle of your field but also to stay at the elite level.

This goes beyond the level of a hobby. You can't clock out at 5pm. Having the goal of being the best at something for a certain amount of time will come at the expense of other things in your life. If the concept of "work-life balance" is important to you, you will never become part of the elite in your field.  The truth is, at one point or another, we all wanted to be excellent something.  Becoming excellent requires an unbalanced lifestyle. For most of us, living that way for a long time is unsustainable.