The Digital Pivot
Supply chains are adjusting to a massive shift online to expand their offering or creating new opportunities to interact with their target audiences to keep afloat. These are unprecedented times, where inevitably some business models will thrive and others may close. Problems are opportunities however and there are hundreds of thousands of SME’s in Australia alone looking to pivot to stay in or optimise their business.
“I felt very lost”
When the federal government announced restaurants would have to close their doors to dine-in customers, Atlas owner and head chef Charlie Carrington made something of snap decision to start selling meal kits, allowing would-be diners to cook up their own feast at home.
The story of Atlas provides a glimmer of light in an otherwise bleak business landscape. Within the first two weeks, the business had seen two of its most lucrative days on record. Customers receive ingredients for three meals, and follow an online masterclass from Carrington himself, via either YouTube or Instagram.
‘SmartCompany E-Newsletter 14.04.2020
Examples like this provide us with insights into how business owners are tackling distancing challenges and innovating to create new business models. They key in many of these new success stories is often the speed in which they choose to innovate or utilise existing opportunities to make the most of their situation. ‘Prioritise those with the highest margins; be prepared to shelve poor performing products or services that are unlikely to benefit from the expected post-COVID ‘bounce’.
‘Joanne Painter, Icon Agency’
As developers of digital solutions, Little Rocket see’s the best way to devise a plan is to develop a simple strategy and test it. Is it being used anywhere else, is their learning’s you can graft from others in your space, what conversations could you be having with clients about offering your services in other capacities. Once you can assess the viability of the solution then it’s about engaging with people who can make it happen.
The other important part to developing a successful solution during this time is to listen to your customers, pick up the phone and see what they are dealing with and problems they need solving. Often possibilities can be workshopped together even if they are interim solutions they may give your business greater viability in the long term.
From Mercedes F1 Team using their know how to make ventilators, LVMH now making hand sanitiser and local superstars Kyron Audio, a South Australian business now producing face shields instead of high quality speakers, opportunities exist every where and can minimise the pain and in some cases actually improve your opportunities.
Great resource to sign up to for interesting insights and opportunities – https://www.smartcompany.com.au/coronavirus/
Gurindji/English Australian, Owner of Marketing, Communications & Creative Agency; Little Rocket.