Until about three (3) months ago, business was booming, customers were endless, prices were high and everyone was doing better than they had in years. Kevin O’Leary, a regular on Shark Tank and self made billionaire, was quoted with a very upbeat message on MSNBC, predicting that “the post C-19 Pandemic will lead to many new business opportunities.” This is likely true, for those businesses who evolve quickly. Gone are the days where the same tried and true traditional business models succeeded and social media channels were a sure bet to bring customers in the front door.
Although it has only been a brief period of time that most businesses have been shuttered, the losses have eradicated any gains enjoyed over the last decade. The New Economy is going to be referred to as business version 2.0. Regardless of your business, if you do not have a lead generation system in place, you are assured to suffer mounting challenges.
Though many businesses are beginning to re-open, we are not out of the woods yet. A resurgence of C-19 in the fall and new mutating strains of this virus are most certainly going to return in the fall, as predicted by Center for Disease control experts like Dr. Fauci and Birx.
So, what to do?
We have all heard the old age adage…”If you keep doing what you have always done and expect different results, that is the definition of insanity.” Never has this been more true than today, where norms are shifting and there is a need to re-invent even the simplest business models. Now is the time to question every aspect of your business and brainstorm with like minds in your industry to modify existing business models and encourage out of the box thinking.
Marketing budgets post C-19
The 2019 business strategies train has left the station; so how do maximize your limited cash flow as businesses reopen under stringent social distancing rules for the foreseeable future?