We all know it’s affecting our social lives. But we’re now starting to see how much of an impact it’s having on businesses and our economy now too. Sadly, this may be just the tip of the iceberg.
So, in difficult times, how do we survive? We need to adapt!
Here are 5 ways to help develop innovative ways to pivot your business during challenging times.
Prefer to listen, rather than read? Here’s the Podcast summary!
I understand. You’re not alone too. The majority of businesses are in the exact same position – even mine.
There are two ways to address this: adapt or keep going and hope for the best. For me, I’m all for adapting – and by reading this, I hope you are too. It’s possible!
So, here are my 5 tips on how to get inspired to shift your business model to not only survive but come out stronger during this unprecedented time.
(1) Write down the challenges your business model faces
Write down where you’re going to see the struggle. The minute you do this, it’s much easier to visualise the parts of your operation that you need to address and focus on.
For example, I was working with an Interior Designer who was panicking that all of her business was going to grind to a halt as she couldn’t go to a client’s home and work with them. We started to workshop this and came up with a solution (see the next step).
(2) Next, how can you tap into the power of digital?
Open your mind to the possibilities.
For example, with that Interior Designer (above), we started running a campaign around: “You’re now at home more than ever – what have you noticed about your interiors?”
We then got an online calendar booking software, put this onto her website and started taking 15 minute free sessions where the potential client can show her around via Zoom or Skype. She then started suggesting ideas which then began to build trust, even without meeting in person. Now, she’s doing paid project plans for them all online and scoping out all the work out remotely so that all the interior planning is done, ready for builders when restrictions lift.
(3) Is there a new customer segment that you can target?
But are there other segments that are more accessible now that you’ve never considered before? Perhaps different industries who are less affected? Or groups of people who need you?
For example, I started helping a Meditation Business. She was worried as she did all of her sessions in person and used a lot of sound healing in her classes. So, we got her an advanced microphone, set up online classes and started running them again. However, I said to her: employees are all at home, and for most, they’re struggling to adapt to get their head in the right place.
So, I suggested targeting corporate clients and launching a “working from home meditation package” where all of their employees could log in and do a “productivity meditation seminar” every morning at 8am before work to get themselves into the right mental state to work. She’s now doing this!
For more, see: 5 ways to communicate effectively during COVID-19.
(4) What back-burner project have you been putting off?
With business slowing down, now is the time to put it back on your active project list and ask yourself: could this work now during such uncertain times?
For example, I worked with a branding agency who had all of their work dry up – all clients put their projects on hold. However, we noticed that there was a trend happening with large brands where they were temporarily redesigning their logos with the “physical distancing” theme to show their support. So, we ran a campaign to help local businesses join the movement and pay to have their logo adapted in support of this too.
For more: How to survive when business is slow?
(5) Reach out for help!
Is there someone who you can reach out for help? A networking group? A professional service provider? It’s hard to think innovatively when you’re so ingrained in your own business. So – find a consultant or someone to ask to lend their fresh perspective.
Bonus Tip: Create content!
For more, read: Why content is more important than ever during COVID-19.
Is COVID-19 actually a gift for your business?
While we could crawl into a hole and see what happens, it’s actually the ideal time right now to put your thinking cap on and make changes now that will help you survive and thrive, rather than crash and burn.
For more, read: 6 predictions for businesses after the coronavirus.
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For more information or to speak to a quality copywriter to get the results your business deserves, contact me now at email@example.com.
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