No matter what the situation is, there is always a business angle., COVID-19 is no exception. I think it goes without saying that it has been a Winfall for the pharmaceutical companies that have raced to provide a vaccine. We can say the same for PPE manufacturers. There are even some brand new businesses based solely on the production of PPE.
Of course, there have been unscrupulous people who tried to create shortages by hoarding, trying to artificially inflate prices. Driven by pure greed and poor moral judgement. There have been some unexpected winners who have made a small fortune providing services for the housebound public. As well as the expected winners, those with the capital to, shall I say, capitalize on this situation.
We all need to use our moral compass, but there is no shame in finding a business opportunity in an otherwise bleak situation. It is, after all, the very foundation of most businesses, to provide a solution for a serious problem the public perceives to have. The debate on just how serious the situation is does not change the ever present idea that there is money to be made.
As a businessperson, you essentially have two choices to deal with cOVID-19 and social distancing, well three if you count defying the law and remaining with a business as usual attitude. The other two choices are to close your business and try to survive the storm waiting for a sunny day. Or, you can look at your business and figure out how it can adapt to the new situation and not only survive but thrive, dare I say accel, taking your business to new heights, more profits, and a new life of success.
If you’re an event planner, think about the kinds of events people may have under the new rules and how you can provide services for them? Or how to become a planner for virtual events for businesses. If you are a yoga instructor, find new ways to get yoga to shut-ins. Or find new ways to educate people about the other aspects of yoga that they may not be aware of.
If you had the presence of mind to come up with the first business model before cOVID-19, you should be able to call on those same mental faculties to come up with a new business model that can perform under the new rules. If you get thrown a curveball by changing rules, think on your feet. They Zig you Zag.
You can take a beating and lay down waiting for someone else to help you back up, someone who may never come! Or, you can wake up to the challenge, make the changes needed to make your business viable again!
The Choice is YOURS!