What if I told you that some businesses have bloomed as a result of the COVID-19? This is a truth that entrepreneurs need to embrace now in order to psyche themselves up for action.
At first, it was almost impossible to admit this because of the pain that the pandemic brought with it but coming ‘up close and personal’ with quite a number of entrepreneurs during the lockdown made me realize that advancement can still happen amidst adversity.
The COVID-19 will expose the world to three kinds of businesses, not necessarily by any fault of theirs. First, those that were hit pretty badly economically and closed shop as a result. The second set are the survivors who pulled through and are trying to find their feet but the third are the subject of this article. They are the ones who through the trial, were able to think through their business models and do what is known today as ‘repurposing’
What does this mean? For instance, Emeka is a professional chef but because of the ban on events and public gatherings, he will not be able to cater for outdoor activities. But his skill is innate and won’t go anywhere but may be redundant if he does not seek other avenues to stay afloat. So what can he do?
Emeka can decide to sulk all day and blame the government or explore other ways to express his skill while remaining relevant to his clients. He could reach out to them and suggest food delivery services since most of us are still working remotely. He could also write a cook book, featuring some of his notable recipes. He might as well orgainize ‘cook with me’ sessions on social media as an authority building exercise and eventually host online classes for newbie event businesses and chefs, alongside some of his colleagues in the industry.
Same person, same skill, different streams of income.
Entrepreneurs need to realize that there was a reason they did not take up jobs in the corporate world in the first place. Those reasons could range from the love for freedom to a knack for risk and so on but these are tested in times of abnormality like this one. When things don’t seem to go as planned, it is business owners who do not prove themselves worthy of the CEO title that will go into extinction because like it or not, this menace is launching a new wave of innovative businesses.
The Post-Covid era will be a classic case of innovate or die.
So if you are a venture of any magnitude; small, medium or big, it’s time to repurpose your services as that is the fastest way to expand during this crisis, retain your customer base and acquire new ‘family members’. Technology has afforded us this opportunity as the world has now become a global village where resources are sold across borders.
Wake up and smell the coffee. Look at your business and think through other ways within which you can ‘style’ that particular craft that you are known for. Research what global competition have or are doing and tailor it to the market in your region. For specifics, you can start with surveys to your present clientele; there might be things they need that you can offer and because you’ve been working with them, they trust you to deliver.
Take advantage of that trust and scale.