Right now, it’s so important to think outside the box for ways your business can survive this challenging time. In the midst of the corona-virus pandemic, many companies, particularly small businesses, are having to reduce hours or worse, close down. Some of which will have to close down for good.
While times are tough right now, let’s try to see this as a new opportunity to diversify what products or services you offer and think of different ways to develop new streams of income.
The one thing to remember is that this pandemic does not have to break you or your business, Queen. One of the best qualities that will serve you as an entrepreneur right now is adaptability. By adapting to the way things are currently, you're more likely to survive and then thrive when all of this is over.
How to approach this situation in the way that best serves you and your business:
1. Can you provide your product or service online? Consider moving your services online. Most brick-and-mortar businesses can become great online businesses with just a few tweaks, so if you have an in-person business, this may be an opportunity for you to expand your reach or adapt your service.
2. What other skills or expertise do you have that could be offered in an online setting? Try offering online classes. Really think about what your clients love you for.
If you're a chef, instead of cooking people food, could you offer your clients a virtual cooking class?
If you're a photographer, couldn’t you teach a class and teach your audience the basics or even the advanced strategies you use to capture your unique content?
If you're a physical therapist, could you provide an online training for couples on how to effectively massage each other at home?
Remember, Queen, don't just modify your offerings; think bigger about the information you can give to people. The real question is: What do people always ask you? What seems genius to them and second nature to you? That’s what you need to package up into something new and exciting; you might have yourself a brand-new income stream.
3. How can you set your business up so that it's not affected by outbreaks or other global factors in the future? Work to develop brand loyalty. What is brand loyalty? Brand loyalty essentially means that your clients or customers are super loyal to you, even during rocky financial times. Always ask yourself how you can fill a strong need, want, or provide a much-needed result, and your customers will be loyal to you for life.
If you choose to revamp your business approach by offering something different and accessible to your customers and keep building brand loyalty, you can use this challenging time as an opportunity to expand, and your business will emerge even stronger. Stay focused, Queen!
Please share your thoughts in the comments section below. You never know, Queen, the things you say may help others. Don't forget to share this post!