One of my favourite classic scenes from the tv series Friends, involves Ross and Chandler trying to get a sofa up a winding staircase. Ross keeps screaming, “PIVOT!” at poor Chandler who is forced to navigate. I keep coming back to that word time and again these days in the context of my business and all of the small businesses that I am helping to launch. The world is different and business owners are forced to pivot to survive. If you are wanting to start your own business now, you have a distinct advantage as gaping holes and needs are visible in the market. You can pivot your business plan now without too much consequence and maybe even discover a plan that will thrive going into the future.
I know as someone who works with clients to make their business dreams a reality – these current times are making future NEW small business owners and current small business owners feel uncertain and overwhelmed about what’s to come. I’m here to tell you as a thriving small business owner for over 20 years – You are not alone! I’m doing my best to stay positive and give myself time to adjust to the new normal – you can too.
Let’s consider what many small businesses are doing now to survive…
Restaurants and chefs have moved to takeout and many have begun offering cooking classes online. Personal trainers and gyms have moved their classes online too so people working from home can still get their workouts in and gyms can maintain their gym memberships. Artists and musicians are having online lessons. Tourist based businesses like Haute Goat are offering to bring their animals to the public via Zoom and Google Meet. Basically, think about your business and think about how you can offer it remotely. This could lead to a larger business for you as you won’t be geographically tied to a single location.
Take a deep dive into your business plan. Does your business have a future? What can you change to make it work in what could be our reality for a while to come? Research similar businesses in your industry to see what they have done to keep running.
Time to revisit funding too. The government is offering support and new low or no-interest loans. These could be just the boost you need to get to launch.
Get Social. You have time now to really build and plan a social media presence. More people are spending time scrolling through their social channels than ever. This also means a crowded marketplace so you need to take this time to get your branding and marketing in place so that you stand out.
Talk to people. Find out what they want. How can your business provide what they are missing?
Need help with the pivot? Get in touch! I offer a free one on one session and can answer all of your questions.