Ep. 20 - Business Benefits of Coronavirus

How do you find opportunity for your business during turbulent times like we’re experiencing?

It’s been a crazy few months hasn’t it? People have been living in fear, getting sick, hoarding toilet paper, businesses forced to shut down, everyone on lock down and people losing jobs. Certainly there have been people that have been negatively affected by the latest pandemic but is there opportunity in the future for your business? If you research the history of depressions, recessions, wars, past pandemics and any other situation that has forced mass interruption into our daily lives and business, there has always been opportunity. But it is only those that look past the fear and adapt and innovate during those turbulent times that are able to capitalize on the opportunities. 

Key Takeaways

• Crisis exposes inherent weaknesses and forces businesses to adapt. If you don’t you will suffer

• In crisis there is opportunity

  • Solving problems

• How crisis permanently changes the way we do business

  • Gas crisis of the early 70’s made fuel efficiency a priority

  • Dot com bust paved the way for life on the internet

  • Recession created the gig economy

  • Coronavirus??

• The market demands are always shifting but most are slow to adapt or unwilling to because this is how we’ve been doing it for __ years. Now you don’t have a choice. 

• Early adopters win.

• Business situations that will change. New opportunities to start or expand your business

  • Home services (tutoring, doctor,)

  • Virtual workers. Anything you can do remotely (work at home)

  • Cleaning services

  • Emergency preparedness

  • Delivery services (any product or service)

  • Education 

• Now is the time to do it

• Prepare for the next one

  • Save/invest for the future 

• It takes 21 days to create a new habit. Your customers are going to be adapting to new habits during the lockdown. How can you be part of this new habit?