As a business owner, my heart goes out to all the entrepreneurs out there who are seriously hurting because of the COVID-19 pandemic. As an accountant, my business is easy to transition to 100% online. In fact, I’ve always had an online, “Green” mentality around building my tax practice ever since I started a decade ago. But not all businesses can be so lucky. I feel for the photographers, masseuses, and wedding planners of the world who rely on making sales in-person. Unfortunately, the old way of doing business won’t be possible for an unknown amount of time.
But passion doesn’t stop cold turkey and sadly, bills don’t either. If you’re stuck scrambling to figure out how to adjust your business model in the age of COVID-19, then continue on reading.
Begin offering online consulting services
You put thousands of hours in your craft to run a business. Now, you can share that knowledge with others through online conference calls, PDF worksheets, or YouTube videos. Whatever the medium, you can sell your expertise for extra cash. Like Kelis said “I can teach you…but I have to charge.” If you’re a well-known wedding photographer who’s been killing the game for years, imagine how popular your consulting will be to other photographers who are using their extra time to level up their skills.
Transitioning into consulting will free up your time, allow you to raise your prices and introduce a new form of income that doesn’t take nearly as much work as your original hustle.
Sell digital products
Got some good prints or design layouts to sell? Can you take consulting a step further and build a mini course? You can build a mini-course for business owners who need a little bit of your creative flare or for folks who are interested in entering your business. What are things you wish you knew before you started your business? What do you do to remain inspired when things get tough?Start asking yourself these questions, because you have the answers and ultimately, those answers will be the money makers.
Sell future bookings or package deals now
Just because we can’t go outside now doesn’t mean you put everything on pause. Because in case you have doubt, let me clearly remind you: OUR CURRENT SITUATION WON”T BE LIKE THIS FOREVER. Is it possible to postpone your current client appointments to a later date without having to offer a refund? I know it’s hard because we don’t have an exact date for when things will go back to normal, but scheduling things now will allow you to come out of quarantine strong. It will also help establish a sense of normalcy again…I know we all could use some right now. You may be surprised that some folks have the financial means to pay now even though service won’t be delivered until much later. If they’ve been a long-term loyal client, ask the question as you may be pleasantly surprised by their answer. Because the truth of the matter is, you can assume and overthink the outcome but you will never know their answer until you ask.
Right now times are hard, but if you refocus your energy on these other efforts, you can maximize your earning potential for now and beyond. I know it feels fruitless because of all the roadblocks and there are a million other things going on that may be stressing you out or taking up your time. Remember to take things day by day. One day you may be feeling energetic and positive. The next day you may barely feel like getting out of the bed. It’s normal, acknowledge it, and just be.
We can do this. We WILL do this. We can make it through this!
Wishing you peace and joy,
P.S. In these uncertain times, I have become certain that having a warm community of like minded people who we can talk to about regular life happenings especially as it affects our business is a priceless tool. If you are a business owner, entrepreneur who can use the support of 800+ business owners, then join my free FB group called #theBLT – we dish Business & Life Tips on the daily. What’s popping right now includes working from home stories, eating all the snacks, what to watch next on netflix, and the new IRS tax deadline. See you in the group!!