by Elaine Slatter
As we are firmly in the second wave of the COVID-19 pandemic all across the world, small businesses are suffering. As a small business owner, during this pandemic do you need to pivot your business to survive? For many bricks and mortar businesses there are often plenty of restrictions.
Here are signs that you need to pivot your business to survive
- Cash flow is very tight
- Rent and fixed costs for your business cannot be reduced, even though you have been negotiating to reduce these costs
- Government relief programs have run out or don’t apply to your business
- You are in the hospitality, travel or fitness industry and your business is continually being targeted for closure
- You only have a bricks and mortar location or you are an events company catering to large groups
Ideas to pivot your business to survive
- Expand your product line to include items that you can sell online
- Get an e-commerce store up and running as quickly as possible
- Establish a Facebook business page and sell your products in your facebook store
- Look for other Facebook “buy and sell” marketplaces in your local area where you can advertise
- Up your Social media game by thinking how you can use Instagram, Etsy, Twitter, Linkedin as well as facebook to find more clients
- Create quick videos with your cell phone (they don’t have to be perfect!) to use on social media
- Hold facebook ‘live’ events
- Invite people to Zoom parties for your products
Case Study of The Travelling TeaRoom
Linda Barnett, the Founder of The Travelling TeaRoom quickly realized she need to pivot her business to survive. Offering a high tea experience in private homes, businesses, and at bespoke local events, she was faced with over 40 cancellations starting last March.
Although she has been able to offer her high teas in a very limited way, with ongoing heavier pandemic restrictions in her local trading area, she has had to turn to other products for survival.
This is what Linda Barnett changed:
- Expanded her jewellery and accessories business which was a secondary part of her offering and shipping these items worldwide
- Published a cookbook
- Used Zoom parties to demonstrate her products
- Collaborated with other vendors to have joint parties
- Upped her Social Media presence on both Instagram and Facebook
- Established a facebook store
To hear Linda’s full story of her business pivot, tune in to this podcast
The post Do You Need to Pivot Your Business to Survive During This Pandemic? by @XLConsultingGro appeared first on She Owns It.
Elaine Slatter 2020-12-04 14:00:53
The post Do You Need to Pivot Your Business to Survive During This Pandemic? by @XLConsultingGro appeared first on Market World.