Oh, these wicked times. Businesses are folding like gymnasts: coffee shops, restaurants, travel agents, co-working spaces, wedding planners, and thousands more.
Your business might have failed, but you are not a failure!
Nobody anticipated a complete shutdown of the world economy. Who would? There no longer is a robust travel, cruise, convention, or wedding industry.
A virtual wedding is not a celebration; on-line meetings overlook the creativity, connection, and collaboration that an office provides; Zoom conferences may educate, but they take away the informal opportunities for networking. In short, not all businesses can simply “pivot to online.” After seeing dog training on Zoom, I knew we had gone too far.
Not all businesses can simply pivot to online. SO, what are your next steps?
Of course, you’re asking yourself, what’s next? How do you pivot for survival?
As so many of these business closures were my friends and clients, here is real-world advice:
1) Try a Different Location
I have friends moving to states that are more business friendly and less densely populated. South Dakota Governor Kristi Noem pleads with businesses to grow in her state with very few COVID restrictions. Cheryl and Larry Appel of Pianissimo are saying goodbye to Nevada and hello to Arizona.
2) Leverage Your Core Competency
If college admissions are no longer what they were, turn your exceptional understanding of college kids into resume writing and job coaching. Yes, Erika is open for business and career coaching at www.rockstaracademics.com
3) Change Your Model
Given the collapse of the $300 billion worldwide wedding industry, savvy entrepreneurs know that the business will come back… eventually. Candi of Right Hearted Weddings switched to a freemium model so that vendors publicize their services now to capitalize on the market later.
4) Shift Your Target
With the convention business virtually stalled with travel and large gathering prohibited, the need for speakers has plummeted. Of course, there are Zoom conferences, but I’ve shifted to market directly to entrepreneurs with sizzling content. Who else can benefit from your expertise?
5) Get a Job
Oh, working for “the man” is blasphemy, but it remains an option. I’ll tell you that virtually no company will consider your resume and application; HR leaders believe entrepreneurs and corporations are arch enemies – you’ll leave once you can. Caydie McCumber pleaded on LinkedIn to give us a second shot. “Freelancers have 100x more experience in their field than any lifelong staffer.” Your only route is to connect via colleagues who know and adore you.
How are you making work work? I’m all ears.