Let’s rewind to the era before the covid-19 hit the world. There were more esteemed typical and more conventional business methods of being in business, for instance, the entrepreneur should have a proper office or work area for his or her business to move on smooth, and the employees needed to transfix themself in the office cabins in a fixed time, a proper, smart and decent dress code, etc. But things got really out of control when the covid-19 hit the world and 90% of business areas were pushed towards the method of digitalization.
At first, all were quite confused about how it would work, unhappy and seemingly awed, or even expressed concerns if things would be on a proper front and flow as in the old times. But as human nature, we are adapting to this new ‘New’ kind of working and the major loss for the business and the employees was drastically reduced only due to the digitalization method. But when one of the world’s biggest companies, Google’s CEO, Mr. Sundar Pichai himself took a brave decision that all his employees should work from their own homes for the next one year. The step had struck a spark of inspiration and confidence in the minds of people. If a company like Google itself can run on a work-from-home basis, then why can’t we.
Many entrepreneurs made some courageous attempts in digital business making, but the majority couldn’t succeed, only because people were somewhat not able to accept and adapt to the digital world of marketing and the vast field provided by this. But the success rate was pretty low at that time.
Even the social media platforms themselves paved the way for young businessmen to start their businesses. They don’t require a well-defined office, staff with proper dressing styles, etc.., they have created their start-ups without these conventional methodologies and we all know that the success rates are enormously high.
The other thing is that people have accepted these digital buying methods because, like literally every household thing, even from a small matchbox to the needed home furniture itself. So people are more convenient in dealing with the purchases from the home itself. These have paved a major way for the digitalization of business and the rising of young entrepreneurs.
As all these work from home and digital marketing is progressing, there is a very open environment for the young people like from the age 18-22 itself they are earning for their own needs. As we can see now, there is not a particular age group of people who are earning for their own, anyone who is willing to earn nowadays has a vast option of opportunities nowadays. As per the recent studies, the company’s nowadays are more concentrated on digital marketing and are investing more shares in the digital environment of businesses. The funding for digital initiatives has also risen enormously. The growth of the digital market was also dramatic.
As per the suggestion of recent records, the digital initiatives after the first covid situation are 4 or 5 years ahead of what we have seen or expected before the covid situation. More like a transition. Like we have said, the companies also took a drastic jump to the modern digital type of marketing rather than the conventional methods and all these happened in a short period. So the covid itself says that “you can do this in this way, but you didn’t until I came”. The situation is depicted the same here.
Also when digitalization came, the product prices went down and the rate of sales of the components rose. This happens also due to the competition given by the newly formed companies and the leverage given by them. All we can say is the after-effects of the digitalization of businesses and the major part of it is caused by the covid 19 itself. Ironic but acceptable.