Adapt, Adopt or Pivot in the Corona Virus Economy
With major restrictions placed on business by the COVID-19 outbreak, we go long (46 mins) and very deep into what small businesses need to do RIGHT NOW to survive. #Adapt #Adopt or #Pivot. This episode includes a massive amount of actionable content for businesses in all stages or Coronavirus reaction. Here's the outline.
- Adapt & Adopt Before Pivot
- During, After and the future of business
- Minor To Major, Big To Small
- Creating Ethical Opportunity From Struggle
Hit the Hardest: Concert Artist and Production / Trade Shows and Industry Events / Events Planning - wedding, fundraisers, professional orgs. / Non-Profit / Hospitality (bars, clubs) / Sports / Movie Theaters / Gyms / Arts and Entertainment
Those Already Adapting: Restaurants & Retail - Online, Delivery / Education - Online Classes, Distance learning / Medical - Drive-Up triage, adapting devices, etc. (long, long list)
B2B Model Adapting: Work From Home and Remote - Video Conferencing / Digital, Online, Mobile tools / Manufacturing retooling to fill needs (examples) DD Audio, Auto Makers making ventilators (Ford, GM, Musk, Dyson, MIT), Rouge Fitness, Apparel Manufacturers
Hard Hit: Support Industry such as Sales / Marketing / PR / Accounting / Legal / Insurance / Continuing Education Programs / Employee Training and Development
The T is SWOT is Threat. This is what you (should have) planned for.
Business Model: Adapt / Adopt / Pivot (but can you go back?) Public Goodwill for only so long / Meet them more than half way / Have 2-way conversation, learn from this experience / Don’t go "back to normal" as soon as possible
The Whole Market Has To Change, So Do You! What You Need: Speed / Attention / Speed / Not once, but over and over / Did we mention Speed?
Do NOT do this ALONE. Let your third-party experts (like us) help you make hard decisions to plan for an immediate response and then manage into the future. This isn't just an economic decision, it's personal for most business owners and entrepreneurs.
Be Smart / Be Strategic / Be Flexible / Be Fast and Decisive / Brand over SALES (if you can)
If your business is secure or barely affected, do your part while focusing on: GOING LONG (Attitude and Planning) / BRAND BUILDING / PUBLIC RELATIONS / CORPORATE CULTURE Note: ALL CAPS for a reason, it's that important.
You are NOT taking advantage (being unethical) by doing business/sales if you are providing value with intent. Let your ethics guide the process. Protect your family, your employees, your vendors, your subcontractors, your community and your country. Fight like hell! Good luck!
On every #NeoMarketing podcast, we discuss best practices, latest trends and modern techniques for professional business communications including advertising, marketing, digital channels, social media, public relations and alternative options. Listen, Watch, Subscribe or Stream: http://bit.ly/NeoMarketingSubscribe