Pandemics tend to enable entirely new businesses (services and products) and acts as an accelerant to innovation versus being the direct cause of it. To quote Dr Imber “There has never been a more critical time to innovate and look at things differently than there is now, because the world has completely changed. If you stick your head in the sand and fail to innovate, probably the only thing that’s guaranteed is you won’t survive this crisis.”
Necessity has been the mother of invention in the response to the COVID-19 pandemic, triggering many an innovation, often without the luxury of time to test these makeshift solutions to pressing problems. Just look around; you can create a long list of innovations.
I don’t believe we can go back to the “old normal.” The “new normal” will require small business owners to take a risk, do some “out of the box” thinking and then take action.
There is an excitement in the air for those who believe that there are unlimited opportunities available today. John F. Kennedy once observed that the word “crisis” in Chinese is composed of two characters – one representing danger and the other opportunity. I believe that the danger is a result of small business owners not taking action.
Your challenge is to find creative ways to cater to the new types of demand created by the pandemic. It could be a new products/services or reinventing your products and services and finding new ways to deliver your promise to your customers.
Innovation has to come from within, a belief that there is a better way to do something. You may need help from a mentor or your strategic alliances, but you have to be the person that initiates the action.
No matter what business you are in, waiting for a return to the “good old days” will not happen. Don’t waste this chance to take your business to the next level. Remember the BizQuack philosophy, “Our job is to lead not follow” in our individual industries.
Tips & Advice by Nick Petra, CFP – Founder of Strategic Duck and BizQuack
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