12/7/21 by Jackson Lagerway
The COVID pandemic spared virtually no lives. We have lost jobs, experienced confinement within our own homes, watched as sickness affected those around us, and much more. Since COVID-19 swept the world, life has been completely different.
Businesses were one of the groups that were struck the hardest, and of this group, small businesses have been the ones suffering the most. This is because most of them lack the size and capital to adequately cope with the challenges posed by the pandemic.
With 99.9% of all the businesses in the United States qualifying as small businesses, they are an immensely important part of this nation, especially considering that they employ just under half of the national workforce and contribute significantly to the US economy.
For these businesses, the pandemic made it extremely difficult to avoid losing customers and revenue. Some of the primary reasons included consumers staying home during lockdowns, reduced capacity in stores because of new measures such as social distancing, temporary closure of businesses due to regulations, and just a general decrease in the desire to spend due to the uncertainty for future income situations.
During the peak of the pandemic, survey results released by Business Wire in October 2020 revealed that 51% of businesses had a significant decrease in their sales that year. Additionally, of the smaller businesses comprised of 1 to 4 people, 48% have experienced severe problems from the pandemic while 37% of businesses with 20 to 49 people have reported the same.
These businesses are still not entirely recovered from this damage as it will take some time until they are fully back on their feet again. A recent survey conducted by the Federal Reserve Bank found that 3 out of every 10 small businesses in the U.S. said they likely won’t survive 2021 without additional government assistance, CBS News reported. That amounts to nearly 9 million businesses at risk of closing.
How They Coped
Many businesses had to rely on technology to find success during these treacherous times. The transition to a more digital society was imminent, but the pandemic served as a catalyst for this shift as people depended more heavily on online resources during this period.
I am sure almost all of us have worked over a Zoom call and experienced the convenience of working online from home. Platforms such as Zoom allowed for a smooth transition to the digital space so incorporating these into businesses was practically necessary as these applications and services made this conversion to the online world much easier.
The numbers were huge, as 76% of small business owners in the US reported relying on online tools more during the COVID pandemic, and close to ⅓ of these businesses also stated that without these platforms, they would have had to close their business completely or partially.
One thing we have learned is that using these services online is actually very convenient. It can allow for tasks to be conducted more efficiently and effectively and consumers are preferring to shop online rather than going to a physical store. This transition appears to be here to stay and forcing businesses to convert to this medium may have actually benefited them in the long run.
It was very common to see businesses use digital tools more to gain new customers with 40% of small businesses across the US reporting that they had used an online platform for this purpose during the pandemic. One area that has seen some notable growth is SaaS services and other similar businesses. They have grown in popularity as people have begun to rely on them to increase their customers and receive the support needed to succeed in the online world.
Collaborate and Elevate was one solution that was birthed during these times and they have really been able to take advantage of their resources. This networking platform supports businesses by helping them make connections and find new customers online. Additionally, they also offer other services aimed at helping the business grow.
Collaborate and Elevate currently provides four subscription plans that start at $4.95 a month or $47.95 a year and go up to $180.00 a month or $1945.00 a year. They also have a partner model for advanced businesses that are interested in a deeper engagement.
Although businesses were hurt badly during this time, there have been many support structures available for use. It was very important to develop an online presence for the future and now businesses have these things set up years in advance. These steps will pay dividends as time passes by.
12/6/21 by Jackson Lagerway
The NCAA has recently announced new policies that allow student-athletes to now legally earn money from their name and image in college sports. This is a major transition from previously strict rules and it is important that college athletes capitalize on this opportunity to monetize themselves.
Debates over this have been going on for years and the NCAA has finally decided to change its stance on this topic in 2021. This rule change came into effect on July 1, 2021, and will apply to all three NCAA divisions across all states.
These new rules have granted athletes the ability to receive endorsements from brands, monetize their social media content, enter agreements with agents, and gain many other opportunities. This will support these student-athletes immensely as they will receive monetary benefits that can be crucial for some. Larry Mann, executive vice president of sports marketing agency Revolution Marketing, stated that the NIL policy shift is especially important for athletes that don’t have many opportunities to pursue professional sports after college.
Many are already experiencing the advantages of this new rule change. For example, Alabama quarterback, Bryce Young, was able to raise seven figures a few months ago. Others have been able to profit from endorsements as well, with Hanna and Haley Cavinder, twins playing on the Fresno State basketball team, maximizing the use of their millions of followers on social media by agreeing to sponsorship deals.
It is essential for these athletes to seek out all of their opportunities now, so they need to market themselves more effectively than ever. Platforms such as Collaborate and Elevate are the ideal resources that these young students need to utilize as it provides them with affordable services that can pay huge dividends in the future.
Collaborate and Elevate is a subscription-based service that offers a variety of features that student-athletes can greatly benefit from. They currently provide four subscription plans that start at $4.95 a month or $47.95 a year and go up to $180.00 a month or $1945.00 a year. Their plans include benefits such as 24-minute strategy calls with an expert, professional match-making services to connect you with growth partners, advertising and exposure opportunities, and other guidance that will support your brand.
Now, more than ever, is the time for these college students to take advantage of external resources to help grow themselves and earn the money that is rightfully theirs.