This is how your work, spending, and life changes from this point forward
From this point forward, you are discovering new ways to work, new ways to spend and new ways to live your life. For some, this means realizing opportunities long held dormant. For others, it’s recognizing you never really wanted to do those things you said you never had time for.
“Necessity is the mother of invention,” says Michael Gerstman, CEO of the Dallas-based financial planning firm, Gerstman Financial Group, LLC. “Video conference related businesses will see massive growth as Americans are forced to find a new way to do business.” Do you know what you need to do to work from home most effectively? Does your company know what kind of employees it needs to hire in order to maintain a productive remote workforce? Who will take the lead in answering these questions?
“Video conferencing will grow exponentially as a result of mandatory adoption during this lockdown,” says Jeff Mount, President of Real Intelligence LLC in Fairfield, Connecticut. “Although it has been available to all of us for some time, the adoption rate will grow out of necessity, and many people will recognize how easy it is to use, and the efficiencies that can contribute to daily work life even during normal times.
If you have school-age children, you may have just become a teacher. It’s not a big deal. Parents have played the role for centuries. Only recently have most parents off-loaded that task to third parties. “Distance learning will gain more traction and even more new companies will spring up in this sector,” says Katharine Earhart, Partner & Co-Founder of Fairlight Advisors in San Francisco. “Online fundraising event companies, online conference developers and unique content creators & marketers will gain traction for nonprofits as more organizations realize they can reach more people and lower costs through these types of experiences.
Dr. Guy Baker, founder of Wealth Teams Alliance in Irvine, California, sees a renewed interest in home delivery food service. “There is nothing to say this won’t happen again. If food delivery can be made efficient and cost effective, the aging population and two income families could gravitate towards a better food delivery model.”When it comes to spending, people will pay anything for their health.
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