What creative business ideas have you implemented to ride out the COVID-19 crisis?
Have you pivoted your products, services or business model? What strategies have you developed to keep your business running and thriving throughout these uncertain times?
I have done more SEO courses, built a website for a friend (not my field), and am looking to give away three free uniquely-written headlines to businesses in Queensland. My husband is in recruitment and he has had built an entirely new way to recruit someone in data, by looking at their skills, their test, and shortlisting right on the website. It's anonymous so it's also a good way to rule out bias.
The e-learning platform, absolutely! We are also using this time to re-do our website, our marketing collateral and we've changed our lead gen ads to focus on what potential clients might need now that the situation has changed from 6 months ago. That is, grant writing and services for successful applicants, website, branding and graphic/asset design - we're finding a lot of SMB's are using this time similarly to us and wanting to re-jig their online presence, their content plans, their websites and marketing collateral.
@Nikki Williams - certainly an opportune time to revamp the website. I'm creating my first website at the moment and have been thankful recently to have the spare time to do so...
I've also been stuck into online learning. Social media and other areas that I've been neglecting in terms of business.
I also did a pivot during the height of the crisis into a more B2C focused offering, namely writing resumes and cover letters.
I'm also finding, much like @Nikki Williams, that businesses are using this as an opportunity to rebrand or re-tool their presence to be more online-focused. I think there are many opportunities out there for businesses to use their websites and online presence as a business card. I don't think in-person networking will return for some time yet.
My clients have revamped their online offerings and I have helped them pivot their content as we have progressed through the year to suit the business climate at the time
Personally revamped my digital marketing strategy, updated website and started a whole new brand (unrelated to my day to day business)
Always opportunities if you look for them
Rather than (the dreaded) 'Pivot', instead use this time to condense down what you offer. Ask yourself instead:
What do I do better than absolutely any of my competitors?
What distracts me from delivering on that?
It may feel like going backwards, but it is instead adjusting your focus to be a more efficient business. Now is the time to ram home with your best customers, why they should be talking to you to solve their problems.
Warren Buffett's 'Two List' strategy is a great example of how to use your time to focus on what will improve your business in the long term.
Buffett's technique is geared towards career goals but can be easily adjusted to focus on business goals:
I've been encouraging clients to start either preparing or applying for the myriad of local, state and federal grants that are available now or will be available in the coming year. Think about where there will opportunities based on the year we've just gone through.
The ones that come to my mind are mental health, job creation (including recruitinment and training), buisiness resilliance. and digital services.
If you are in one of these industries already, then position yourself to be more visible, so that when grant applicants are seeking proposals, you'll be at the forefront.
To get started, visit the Australian government's grant finder website and find out the type of criteria they look for https://business.gov.au/Grants-and-Programs