With over 20M people out of work and unemployment approaching 15%, we have not seen anything like this since the Great Depression. Small businesses are shutting down by the millions. Now is the time to reimagine and pivot your small business.
I interviewed Tracy Thirion, founder of Bamboo Worldwide, a brand and innovation strategy firm for some of the largest companies in the world. She talks about the steps you need to take right now to pivot your small business in the coronavirus economy:
1. Create complete inventory of real assets: skills, data, relationships, access, and people.
2. Ask about your current customers need now, and retrofit your assets or create new ones to fit their new needs.
3. Think about new customers or partners who can use current or retrofitted assets, even if in a totally different industry (i.e. bowling alley selling space to hospital or govt., event rental company renting stuff to create temp hospitals, or in home offices).
Tracy reminds to remember this is not a forever set of offerings, just a “now” series.
