We wanted to give freely to business owners who right now are going to be struggling. While it's great to keep optimism going and look at the positive side of this. There is a dark side. The one which will have families in tears, wondering how they will pay for food, their mortgages and even how they will pay their staff. I feel their pain. I too, have had to make a very quick Pandemic Plan and forecast our Cash-flow to see if we can make it.
So many of our clients will be affected from this time in isolation that we too have to plan for the worst and hope for the best. I think as a business owner you would be naive to think this won't affect you either directly or in-directly in some way. Unless you maybe own a toilet paper factory?
Over the last week and a half, I have been putting my opportunities hat on. The one where I need to find positive opportunities for ourselves and our clients to help them at least bring some income in over the next [insert unknown timeframe]. I wanted to share some of these ideas with you.
These ideas will work for different businesses - they won't work for all businesses but rather than categorise them I have just listed them out, have a read and maybe some of them could help your business:
- Running Online Workshops rather than face-to-face
- Starting an online subscription service - people subscribe, what they get will depend what you sell/do for business
- Re-targeting a new market - think about who will be least affected throughout this economic downturn. Who needs your services: the toilet paper factory?
- Sell online workshops teaching people how to make a few of your products or some new ones made especially for this purpose if you don't want to give away your secrets
- Sell Gift Vouchers - with a discount that only expire 6 - 12 months after we are released from lock down
- Offer your services to essential businesses - those still running at full capacity
Now were not saying the above opportunities will save your business, there are some industries that are really going to struggle more than others. There really isn't a secret recipe, do what you can. Think outside the box.
There are also plenty of ways you can utilise the time that you want to spend on your business (for those that are closed):
- Update your documents - procedures and health and safety manuals, company policy documents, forms, email templates
- Keeping up to date in the software you us
- Knowledge - what can you read, watch, do to up your skill level
- Take the time to get your business online now
- Keep your brand alive by creating videos showing what you do - teaching people how to do it
- Content - social media, newsletters, whatever it is for your business
- Making a pandemic plan if you don't have one
We all have 'To Do lists' that seem to be never ending. Now is a great time to decide what is important on those lists and focus in. Whether that be on your business to do list or your personal to do list is up to you.
Time is a gift we must use wisely.
What more do you have to add to our lists? Let us know and we can add them on for people: office@varntige.co.nz
