The current situation is a challenge for all business owners; some more than others. The question is: What can we do to make the best of this crisis and come out stronger in the end?
Step 1: Immediate
The immediate issue is keeping your business going today. The situation that we have today was unthinkable for many businesses in January: A need to keep customers at a physical distance.
The first question is: Does your business really rely on physical contact with your customer or client? I have seen a good many business close their doors who, to be honest, could be doing a large part of their business another way. Some have grasped the opportunity to experiment with digitalizing their business methods and others have simply closed their doors.
The same is true of with products. Some businesses found new delivery or collection solutions that bring the product to the customer.
The advantage of the current situation, is that everyone accepts that new delivery or collection solutions may not work smoothly. Customers understand (and admire) business that are experimenting with new ways to keep delivering their service or product to their customers.
Avoid experimenting with anything that you no longer want to be doing after the crisis is over. In particular: do not create a new product or service that doesn’t fit your portfolio and needs a new customer base that you don’t want.
Instead, focus on finding new ways to serve your current market(s).
Some people have been saying “But people are not spending money now”. This is not really true. Closer to the truth would be “People don’t have the opportunity to spend money now”. Give customers the opportunity and they are just as ready and willing to spend money with you as they ever were…
If you are interested in working together to identify some ways to help your business overcome the Corona crisis, please schedule a first free meeting here…
I look forward to talking to you…