Business Model Design
With the COVID-19 related lockdowns & social distancing requirements, ‘ADAPT’ & ‘PIVOT’ are two buzz words that have quickly emerged, with the need for most businesses to make swift changes to their business models.
We’ve provided our top 7 tips to help businesses survive & THRIVE in the current environment!
- Re-evaluate your product or service offering. Consumer spending for non-essentials will be lower for the foreseeable future, so consider promoting products & services people need, rather than want. What is your audience requiring right now?
- Create online courses via virtual facilities, such as Zoom. Our client FitRight, FitRight Aqua & FitRight Woman have done an exceptional job of swiftly moving all their Physio-led fitness classes to online classes, & their highly engaged members are loving this!
- Add online shopping & payment facilities to your website. By making it easier for consumers to purchase from you, you will be in an improved position to weather the Coronavirus storm, plus will set your business up for future online growth.
- Consider extending your payment terms or whether your previous price points are still relevant in the current environment. Consider discounting, value adding or bundling your products or services where required.
- Continue marketing your business & grow your online marketing efforts. The businesses who maintain & grow their digital exposure are future proofing their business, whilst ensuring they maintain as much market share as possible now.
- Stay connected by networking with local business owners from the comfort of your own home. We are members of Perth business networking groups Enterprise Connections & NRG – Network Referral Group. Ask us about how to join, as networking expands your network and is FUN!
- Upskill yourself! Enrol in the courses you have been thinking about & make the most of the extra time you have.
Also, it is more important than ever to shop local & protect our local economy. Small businesses need your support, so please shop local!!
If you need assistance with your website or marketing, we are offering a 30-minute complimentary website & marketing health check. Our Director Sara Lyon also provides online coaching sessions, designed to help you to help yourself now & into the future, because we will get through this & come out the other side stronger & more resilient! Bloom baby bloom! ?