I’ve been reading a lot of stories about entrepreneurs and businesses closing. It’s hard not to imagine your company crumbling when sales are plummeting; you can’t get out in front of customers or get your foot traffic, or even plan and invest in the future.
For what I’ve been able to gather, the solution is to hunker down for some time. Nothing specific or definitive that can help the bleeding of our personal and savings funds.
But not all industries and businesses are seeing the same level of effect.
There is a massive spike in nearly every digital collaboration tools, home exercise equipment, telehealth, and much more. To see more examples, pay attention to the ads you see on social platforms. Odds are that those products make a whole lot of sense right now.
I even bought some dumbbells so I wouldn’t go insane in my bunker during the TP apocalypse.
So, while you probably can’t pivot your entire business model overnight, you can mitigate the risk by using what is working right now – digital tech.
Selling your product might be a challenge, but what about educating your customers more? I bet they all are sitting at home staying at their phones just like you and me. Take advantage of this.
We’re all so incredibly bored right now. What about entertaining your customers through social, video, or podcast? I see a massive boom in live social videos. People want to feel connected, especially if they’re outgoing.
All of our businesses are hurting. That’s not debatable. However, we are also given a unique opportunity to grow our reach and still provide value to people.
Consider this a time to stockpile ammunition. You’ll need it when you look to regain ground in the coming months after this blows over.