What is your new Business Model?
Across the globe, the way we do business has changed because of the pandemic. Some businesses are completely shut down. Based on our conversations with leaders around the globe, it appears most of us are coming up with a modified way to do business, to operate, and to make money, that accommodates and serves our customers and stakeholders.
The good news, for many, is that you already have an infrastructure that worked before the pandemic. For those just launching a business, there is also good news: You are starting from scratch with a new way of doing business! Make sure you address how your customers needs have changed, and your own new way of operating.
What are you doing today to generate revenue, and how will this new revenue stream move your business forward? Think about whether you want to continue with this modified business model over the next few years.
It looks like we’re going to be living this way for a while — we’re hearing projections of anywhere from three months to three years — so you might want to think about how you can make money now.
What are you doing to make sure that your customers, employees, stakeholders, partners, and community are feeling good about you doing business the new way?
Are you able to modify how you do business? Does your workplace need to be modified to accommodate the new model?
BEFORE YOU GO We see our blogs as opportunities for dialogue. Please share your thoughts as comments.
Think on these things:
- What is your current revenue?
- What modifications do you need in order to operate with safety and security for your customers, employees, stakeholders?
- What else have you learned about your business as we’ve gone through this pandemic?
_____
Published By
Faris Alami is Founder and CEO of International Strategic Management, Inc. (ISM). He works internationally, presenting Exploring Entrepreneurship Workshops and other entrepreneurial ecosystem — related ventures.
#businessmodel #COVID19 #entrepreneurship #farisalami
Originally published at https://www.linkedin.com.
