Eventually, the service you provide or the product you create reaches a price that people aren't willing to pay for and would rather live without
I agree. Those who have businesses like bars, restaurants, souvenir shops, travel agencies (like mine) etc didn't think about this, then pandemic happened.
Cryptocurrencies are thriving atm and the price of properties are low, or at least where I am. The good time to buy (if only I can tho lol). It is always good to diversify or invest in other assets and not rely on only one source of income. Because there will be no guarantees and we'll never know.
I think it is also good to increase our skill sets as we'll never know when we'll be forced to work 9-5 again.
I think all those businesses you mentioned are tough to run even in the best of times because there’s so much competition you really need to find a way to stand out
The ones that do survive now are going to kick ass for the next few years with so much of their competition gone now
I think now you have to take your bushes income and start to generate value elsewhere like you say if you had a business and you could use your cash flow to get assets like property or shares in other companies or crypto it can help you take a lot of pressure off your business income and that way you can take a bit more risk in your business and expand because you have a little more buffer
I am trying to improved my Cryptos knowledge and skill because I think it will be very handy in the future but who knows? This blog is basically me figuring things out just in a very public space lol
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Yeah it is good to have a business that provides essential products. And I think online selling / delivery apps also thrive now or at least where I am. I have to think of something else to start ..
I think you are already knowlegeable about cryptos and finance.