Economic suffering from jobs lost to automation and the COVID-19 pandemic accelerate the need for multiple income streams from family members and businesses. The earlier post, "Rebirth of Self Worth," suggests ways children even can help generate income by adding lemonade and hot dog stands and entertainment to family yard sales. The following examples show how some businesses find new market segments eager to try their products.
Hard to mow hilly parks overgrown with invasive buckthorn bushes and honeysuckle inspired the formation of the HaakHagen Goat Grazing farm run by a couple of friends in Wisconsin. Their 88 agile goats, rented out to private landowners and government land, also help preserve prairies by nibbling invasive species and shrubs that block the sun needed by shorter native plants. The goats are gentler on the land than heavy mowing machinery, what they leave behind eliminates the need for some fertilizer and adults and children find the goats fun to watch.
Renting out RVs during the pandemic has become a new business catering to both vacationing families and virtual employees looking for office space while sheltering at home. When pleasure and business travelers return to the skies, they are likely to receive airline-branded Honeywell Safety Packs containing single-use gloves, hand wipes and face masks. Trendwatching.com reports Honeywell offers airline crews reusable packs of safety glasses and face masks with interchangeable filters.
What is obvious from these three businesses is the way they each seized opportunities to serve multiple market segments. Clothing manufacturers now have an opportunity to produce double-duty items for home and business wear. Educational suppliers can think in terms of the home and school markets. Online retailers might gain multiple incomes from pop-up holiday shops, and more and more similar ideas will create new jobs and economic growth.
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