INNOVATION and creativity booms in the year 2020! The greatest number ever of new services and products - we didn’t even realise we needed. These will have become part of “normal” life. We will also see a spike in birth rates this coming summer.

I am not talking just about developments in the area of health and virus prevention. I am talking about flexibility of supply chains, diversity of services to the home, and ubiquitous communication for social interaction, engagement of customers and suppliers and virtual workplaces. I am talking about creative ways to continue and grow business in times of adversity. We have sampled just the tip of the iceberg of these developments and changes.

As an example the interaction with customers has changed. Personal service was once valued and is now shunned (at least for a while). Some will get used to a virtual shopping experience from the comfort of their own home theatre. Many will still crave that personal interaction and will rush for a “fix” when the restrictions are lifted. Are you ready for this roller coaster? Do you have products to sell in the baby boom coming?

I am heartened to see businesses “grab the bull by the horns” so to speak and re-create themselves to continue and even grow their businesses. Even ones that have been shutdown by the mandated restrictions. Take for example a health and wellness business that specialised in workshops and physical contact through therapeutic massage. In just two weeks they have moved to on-line wellness and counselling – their business is flat out!

Haven’t done an overhaul of your business in light of the COVID-19 restrictions and opportunities? – sorry you are missing the boat. It does not matter what business you are in, even if it is temporarily booming, you will be missing out to those who are re-inventing their business.

Here are some important steps:

1. The first one you should have already done: Ensure safety of people and compliance with new regulations – self, family, staff, customers.

2. Assess the impact on your business, current customers, products & services, and overheads. Do a “stocktake” of your full assets, physical and intellectual and create new products and services to suit the times.

3. Review your whole approach to marketing, advertising and conversion of customers – customer profile, thinking & hot buttons; marketing messages; product & service differentiation; advertising medium.

4. Create a plan to keep you on track and to review as events unfold.

   Whatever you do – Do not wait – for government to fix it, for it to “blow over”, for someone else to solve the problem, or for your customers to be stolen.

For those in business who are struggling to get their heads around the business environment right now, and need to re-calibrate fast to adapt, I am offering free coaching to help you establish a plan to not only move forward, but thrive during these challenging times. You can email me on Peter@betterbusinessmoremoney.com

Peter Gamgee
+61 419 716 870
Better Business More Money
www.BetterBusinessMoreMoney.com