How I have Pivoted my Business to Adapt to the New Normal
We’re living through a time like no other in history. Sure there have been pandemics and economic crisis in the past, but none to this scale, nor at this point in time with our access to technology. However, with every circumstance comes a margin of opportunity, especially when it comes to business.
So how can you pivot your business to adapt to the current changes, or what might be the new normal? We asked Alex Stalling from Tinker Art how their business has adapted to the change.
What impact has COVID-19 had on your business?
Because of Covid19 I had to close my creative studio in Toowoomba and pivot to providing online classes. My focus right now is the kids art classes as this is the demographic that needed immediate response. Parents needed assistance with education through isolation and children needed creativity for learning & mindfullness.
How difficult was it to make these changes?
It was an extremely quick turnaround to learn the skills of filming, editing and building a brand new website that would support a subscription based streaming service. Knowing that the crisis was going to impact everyone on some level and being the first was a key element of the success of the pivot.
Have you learnt anything through this process?
In going through this process it made me really look at what made my different on a global level, not just a geographical one. How could I keep the quality the of business while moving to a completely different delivery platform, and managing my physical costs such as covering my studio rent and new web hosting costs.
How is your business performing now?
At this point the pivot it doing well with a growing number of regular subscribers coming on everyday, and lots of great postitive feedback from the parents who have already utilised the course.
Where will you stand post COVID-19?
At this point the plan is to re-open at the end of this crisis, but I hope to keep both streams of the business, as it is through this process I have learnt that I can engage two very different customers. I hope to access the Government Centrelink support but making plans incase I do not qualify.
As any business owner would be aware, those who adapt to change are the ones who survive (look at Blockbuster Videos!). Now is the time to aim high and make lasting changes for your business to succeed.
Caragh has been an advocate of small business since making the switch working for multi-nationals to independent, Australian owned businesses (like Bsale). With a passion for online marketing and being inspired by the ever-changing business world, Caragh enjoys sharing her thoughts with our Bsale audience. (FYI, it's pronounced Kara!)
You can find Caragh on Linkedin