The COVID-19 pandemic took the world by storm, and many businesses took a hit during the lockdown. When the stock market plummeted, investors were left scrambling to make the best decisions to save their investments, and many people realized that they have a lot to learn. As layoffs and remote work replaced the regular nine-to-five workday, people had more time to get involved in trading. Advancements in technology had already made it easier and less expensive than ever to get into the stock market, which made the pandemic a great opportunity for companies like OptionsSwing Inc to grow.
How the Pandemic Gave Business a Boost
Jason Lee, founder and CEO of OptionsSwing, explains how the COVID-19 pandemic turned into the perfect opportunity for the company to grow: “The pandemic gave the business an incredible boost as the drop in the stock market created a strong desire for everyone to learn how to trade and manage their personal finances. As a lot of people were stuck at home, it allowed for people to multitask during the day from their day jobs to make occasional trades. The stimulus check also helped a lot of everyday traders fund their accounts to start learning.”
The Future is Looking Bright
OptionsSwing now has 15 employees, all of whom were hired during the pandemic and belonged to the community before the lockdown hit. As the OptionsSwing community grew, they continued to reinvest into the company by hiring employees to delegate responsibilities. They also took the opportunity to reinvest into their own community with tools to enhance the customer experience. Currently, the company’s monthly recurring revenue is over $125,000. In June 2020, they reached a milestone of $1 million in annual recurring revenue. In August 2020, just one year after the OptionsSwing Instagram page had been created, it hit 100,000 followers. Of these followers, 1,800 became members, and over $1.4 million in annual recurring revenue was obtained. As of November 2020, their Instagram account hit 150,000 followers, and OptionsSwing hit 2,000 subscribed members. By taking advantage of a potential disaster to leverage their business growth, the future’s looking bright.
OptionsSwing Is a Positive Example for All
The way OptionsSwing handled the business crisis during the pandemic is a positive example for all types of businesses. By adopting an online-only business model and adapting to remote work, they were able to grow exponentially. They also reached out to potential members who had something to gain from the knowledge of investing they have to share. Now, as the economy is adjusting and life is returning to (somewhat) normal, they have the foundation they need to continue to grow their business and take it to the next level. The OptionsSwing story is a great example of how you can make lemonade when life hands you lemons.