COVID-19

A three part series

How are businesses doing in he wake of COVID-19?  Some are struggling, others are thriving and many others are trying to ADAPT.

In this three part series we focus on business responses to the changing environment we're finding ourselves in with the effect of COVID-19. There are changes and challenges of the world itself, specifically the CoronaVirus (known as COVID-19) and all of its effects. Then there is a human reaction to these events.  And, of course, a human reaction.

We will focus on the reactions and responses. We will talk about some possible solutions to help you think differently and to take action in terms of economic security during this time. What does this mean for your side hustle, for your business, for what it is that you are working on. Should you change, how would you adapt, how would you respond? What does this mean going forward?

We are going to do three posts one on each Saturday over the next three weeks.

Our hope is that this will be helpful in making some decisions.

Next week we will talking about spotting opportunities during this time including a list of specific ideas. In the following week we will talk about what comes next. What happens after COVID-19?

Get in touch to discuss your business or side hustle requirements >>

 

Part One

Adapt or find something new

Saturday 2 May 2020
During today's challenging times some industries advance while others decline. In fact, this is always the case, has always been, will always be. The world is unpredictable, like we have seen with the Black Swan (COVID-19). Other events impacting industries include Presidential Elections, weather conditions, and so on. Businesses and industries advance or decline based on the outcome of events.

A lot of focus right now is on industries that have declined. We don't mean to make light of this in any way. The struggle is real! Let's also consider the opposite. Let's focus on businesses or industries that are thriving? Then there is a third category. The first two being business that decline (or failing) and businesses that thrive (or advance). The third category? Businesses or industries that are adapting. They recognise that their core business model is at risk or simply unable to be profitable during this time so they respond to the changing environment and do something different.

Here are some examples in each category.
1. Business and industries that are in sharp decline or are at risk to fail.
You opened up a new restaurant. Not a business to be in right now. Or a travel agent. Travel agents might be busy right now but perhaps mostly issuing refunds.
2. Business and industries that are thriving. [We will focus on this more next week when we talk about spotting opportunities]. If you are an at-home fitness instructor. Are if you sell at-home exercise equipment then you can do pretty well. Or some online education then you can do very well. Or perhaps promoting remote work. [Follow our posts on remote work - search for "remote work" in our blog]. (link to blog)
3. What are the business and industries that are adapting and changing recognising what is not going to work right now. Realising that if they want to be profitable that they are going to have to do something different.

We will focus on category three.
Instead of saying "Yeah this sucks!" rather say "What is it that we can do?" Let's connect to discuss opportunities for you.

Let's look at some examples.
Grind365: NutriGo Smoothies, G365 Fitness Box, Live video sessions training with a personal trainer.
When you order any of Grind365's products order services, not only are you supporting all the small businesses that supply Grind365 but you also support Grind365's business. A key take away here is not only does Anthony support his own business but he also stays in front of peoples' minds. He doesn't just disappear for three months or six months and become forgotten. Some very creative thinking there.

There are many more examples. Perhaps you have noticed someone that has applied some creative thinking or has adapted their business in a smart way. Please let us know.

So if you're asking "What can i do to strengthen my business or to create more security for myself?" both now in this uncertain time but also in the future then have a look at a few adaptation strategies.

Side note: if there is an option to apply for funding, not investment but a grant or a program from your government and you are eligible for some assistance or funding then you might as well accept free money. Just don't base or your hopes on it.

Then, have a back-up plan for your back-up plan. If plan A fails, there are 25 more characters in the alphabet! Consider various side hustles or business so if the one is not doing very well then perhaps the others will.

Consider if you can provide the service you are providing now but just virtually. Use apps like zoom, bluejean, skype and so on. People are doing online ballet (like Caroline Kotze's Dance School), online exercises (like Grind365), online yoga, online education, online cooking classes, online Old School Games. Online everything! These times proof to us what is possible. No such a thing as "it doesn't work online"! Maybe it is not as ideal but it can be done! We think that once things go back to how they used to be that people might just continue doing many things online. They might even realise that in some ways it's even better!

Or, you can of course do something entirely different. Use this time to return to your core strengths. Consider what else you might do. Sort of re-write everything. There are lots of things you can do. It might be a better choice for you to move into a different direction. En example? We started DNA Cleaning Products selling natural cleaning products and with this offering we help others earn an income with our affiliate program.

There is of course the option to just wait it out. And wait until times change.

Our conclusion? We suggest why just wait it out? Why not use this time for something good? Consider what possibility you can unlock. Adapt your current business/side hustle or start something completely new.

Part Two

Opportunities and ideas

Saturday 9 May 2020

As a reminder, we're looking at how people are responding in this ever changing environment businesses find themselves in.  We have the challenges of the world itself and then we have people's reactions to those events.  This is a three part series.  Ultimately we want to help people learn to analyse challenging times and make decisions for themselves.
 

The power of observation is an extremely important skill to develop.  No matter what you end up doing with your business or side hustle if you develop this skill it will serve you well.  Use this time to live it out! Ask yourself what you can do during this time.  Ask yourself what opportunities there are.  Start by thinking about the obvious. Learn from watching others - learn, improve and customise on the great business examples around you.  Also be reminded of what not to do when you see bad examples and use this as inspiration to do things better. 

People need safety and security and good health during this time.  In fact, they always need it.  These areas of business are opportune at this time but try think differently as there are many sheep doing the obvious (face masks are as easy to find as finding a reseller or maker a few doors down the road - everyone is doing it!).  

The question is "what else do people need?".  What else are they struggling with?  Apart from feeling unsafe they are also feeling disconnected, frustrated, uncertain.  What comes to your mind when you think about those feelings?

Well people long for being connected, for community, for other people.  You long for something that you can identify with.  Something to make you feel that you are not alone in this.  Opportunity lies in bringing people together - not easy when thinking literally but there are new ways to bring people together. Many have recognised the need to extend their business virtually so setting up a Youtube channel or an Instagram channel.  Present sessions on something you know and something you enjoy talking about.  If you know what you're doing in this space, remember many don't, so there is room to extend your services to training or facilitation in this regard. How about showing others how to setup a Youtube channel and help with the editing, copywriting and so on.  Or a guide to virtual events.  Inform people about online events and provide the info and how to connect to the event and so on.  You can become an online zoom consultant or an online meeting consultant (or any similar software).  Many don't know what software to use or how to use it.  So you can show them how to use it, how to set it up and even arrange the online sessions for them.  You can facilitate these sessions for them especially for groups and larger organisations.  Then there is live streaming too! 

The takeaway is for us to think about what it is people need and want right now and respond to that.  And also realise that even after the challenging events they currently face their needs and wants might continue or the solution to those needs and wants doesn't change and you can continue providing those services.

The takeaway is for us to think about what it is people need and want right now and respond to that.  And also realise that even after the challenging events they currently face their needs and wants might continue or the solution to those needs and wants doesn't change and you can continue providing those services.

Use this time as motivation and a positive thinking time to get going on a side hustle or a business that you always dreamt of.  Now more than ever, having alternative sources of income is even more important than ever.  Don't just wait out this time.  Use it to unlock possibilities and the surprise might well be that you can use it in the future as well.

Footnote: we post ideas on our website from time to time and members receive Featured Opportunities via our Business Community section.  Join us!

 

Part Three

hat happens after COVID-19?

Saturday 16 May 2020

We're a bit early with the release of part 3.  And we're excited to share!
In parts 1 and 2 we talked about "Adapt or find something new" and "Opportunities and Ideas".  In part 3 we'll be talking about "What happens after COVID-19?".

This is the final part of the three part series.  We hope this series will be helpful in making some decisions.
 

What's coming next?  If you're only looking at what is coming now, you will always be playing catchup.  You need to be looking at what will be relevant 3 to 6 months from now.  Think about this in general, not just during COVID-19.  What is "in" now, what will be "in"?   What is declining? What is on the rise?  Consider trends and consumer sentiment.  Anything that relates to your industry or market.  Don't look too far ahead, not for the next five years, just ask "What's next?".

Let's look at some things that are here to stay.

Remote work.  It's nothing new.  People just never paid attention to it.  We spoke a little about being a Zoom consultant last week or helping people setting up a home office.  It is a good opportunity now but we think it is here to stay.  Organisations realise realities.  And a lot of people will say "Hey, it's working, we need to change!".  They might turn turn to their employer and say "You said it doesn't work, it's impossible, but we just proved it works." They might be thinking "If my company doesn't offer that option then i will find one that does."  What we're saying is that a lot of people won't be willing to go back to work, to the way things used to be. It may, in fact, set the future facing companies apart from the rest, and a red flag to those stuck in the past.

A lot of people will be coming out of a state of limbo.  Their lives changed.  It was unusual.  And after all this has passed, people will have to come back on track.  There will be a big market for people that have been inactive during this time so there will be a huge opportunity for the lifestyle and wellness world just as there has been now for at-home classes and at-home trainers and such.

We will find that a lot of people have made major decisions during this time.  Relational and family structures might have changed.  Changes in household and lifestyle structures.  What people's goals are, and so on.  Basically how we live our lives, what really matters, and decisions on how we want to live life. We think we will see a new and different form of digital nomads.  We will find people still working on their own but forming collectives and they stay in one place.  They long for a sense of community and desire for feeling less isolated.  Have a look at DNA's Community for business and side hustles.

On the notion of community, supporting your community comes to the fore.  As a business, and in our business community, we challenge ourselves and our members (and you!) to put together a "recovery tour of small businesses".  Go and visit small businesses that managed to hang on during this time.  Like restaurants that kept serving people through delivery or take-away or ones that had to close down completely but now strive to come back.  The mindset should be "let's go visit these businesses and see how we can support them."

Alternative views during times like these will continue.  These are just some ideas for after this time.  Or any other situation that might come your way.  The question remains "What will be relevant in the near future?"  That's where the opportunities lie.

Remember to use this time as motivation.  Use this time for the good!  Let's connect and discuss ideas, opportunities and figure out how we can help other businesses in need.

We hope you have enjoyed this series and that there is something in here you can use.  Let us know how it goes.

We continuously update our blog with ideas and lessons we and others have learnt so come have a look (often)!

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