So like many businesses around the world you have been affected by the current lockdown. It is a tricky situation and one that unfortunately doesn’t seem to have an end date to work with so it has left many businesses with no option but to close the doors.
For others who are lucky enough to have the ability to offer their product or service remotely it has meant they now have to adapt to using digital services like zoom or skype to stay connected with their co-workers and clients. While this is a great solution for consultations and conference calls, it still leaves you with no way of answering the question……
HOW CAN I GENERATE REVENUE DURING THE LOCKDOWN?
Well the answer is simple but does have its own challenges…….PIVOT.
Reconfigure your product or service and adapt it to the digital marketplace.
Take what you do and use it to create online classes, video tutorials or even host live webinars allowing your customers to do it at home.
If you’re in education or training, take what you teach and make it an e-course, support your students with video tutorials, explainers and live streamed lectures.
If you’re a gym, create online fitness courses with daily workout plans, nutrition advice and live one to one video consultations with your clients.
Are you in consultancy? Deal directly with your clients and project participants through live video software like zoom, deliver workshops by combining video consultation with interactive digital content such as animated infographics and e-learning programmes.
Apply this concept to your product or service to not just keep the lights on over the lockdown period but as a massive investment in the future of your business. The great thing about creating digital products such as e-courses is that once it is made, it will continue to generate income through the life of the business and long past the lockdown period. This means that after lockdown you could see a major jump in revenue because you are offering your product or service both digitally and physically.
Admittedly this is not a fix all approach and unfortunately it will not work for every business but it will offer a lifeline to many affected by the lockdown who are able to make the change to digital.