Small Business Strategies in COVID-19
Warren Buffet has been known to take advantage of stock prices in Bear markets and then selling them in Bull markets. The same way, Mr. Buffet uses difficult times to profit. The savvy entrepreneur should be pivoting their business model to fit these times.
If you offer a product, now is the time to clean up your online store. If you have not set up a online store do so as soon as time allows, which should be immediately. Service providers should be offering online opportunities to there markets. Like online in-home consultation for individuals or groups. As entrepreneurs, we typically think outside the box so now its just a matter of stretching your thought process a little further.
Businesses should be examining the current inventory and looking at every unit in stock as potential dollars. Service providers should be checking the electronic devices to make sure cameras are functional and are WIFI ready to conduct any online service. Also, preparing or staging a comfortable make shift Set somewhere in your home would be ideal. If you are gym owner or trainer, Maybe your Set would contain some workout equipment or something remind your audience what service you provide. This Set idea can be applied to multiple businesses from, Mortgages, Coaching, Psychiatric, Financial consultant, Advisors, Electronic techs and more. Obviously everything cannot be done via the internet, but certainly many things can be achieved. Online services like Zoom, Go to meeting, Freeconferencecall.com , Google hangouts, Microsoft teams and more are great and free or very inexpensive tools for you to use. Most are user friendly and easy to learn. We believe Business Owners that adapt will emerge on the other side of this Pandemic stronger and ready to grow larger then ever before.