GROWING YOUR BUSINESS: Out of adversity comes innovation

by Dan Beaulieu
Business consultant

What do Hewlett Packard, Disney, Hyatt, MTV, CNN, Microsoft, Burger King and GE all have in common? They all started in periods of economic recessions. The ideas for these companies came from periods of great uncertainty, times when the world, especially the economic world seemed unsafe.

Does this sound familiar? Has there ever been a time of greater uncertainty than today? If so, not many. As strange as this is going to sound, and forgive me in advance for saying it, but those of us in business should never waste a good crisis. Right now, with the world upside down and people not really knowing what path to take, this is a time when those proverbial cooler heads will prevail. This is the perfect time, yes, right now to sit down and figure out in what direction to take your business.

Whatever that business might be from a Mexican restaurant, to a plumbing and heating business, to a landscaping business, this it the time to take a look at the world around you, your customers, your market and figure out first what they are going to need and, secondly, how can you and your company meet that need.

It has almost become a cliché to say that the world will never be the same, but it’s true isn’t it? We all know for a fact that after that sunny and clear Tuesday in 2001, September 11, the world has never been the same. If you don’t believe me you have not been to an airport since then. If you don’t believe me ask our service men and women who have been fighting in wars, still are fighting in wars almost 20 years later that resulted from that one day in 2001. Think of all the industries that sprang up in the aftermath of that one day. Everything from better security devices to small clear shampoo bottles, to a rise in the number of firearms, not to mention defense and aerospace equipment that has kept our military industrial community thriving since that one day.

So, what has this to you with you, small business owner in Kennebec County, Maine? It has everything to do with you and your business. It’s time you looked around and figured out how the world is changing and how you use those changes to expand your business.

Let’s take a peek at what we are watching change as we write this:

• Germ Free Service Companies: Your customers are going to be more wary of people coming into their homes to do work. So, you’d better have a plan to assure them your company practices safe policies from now on.
• Delivery services: Deliver services are booming, if you’re in the food industry, no matter what your cuisine, you should get even more creative at take-out meals, not only while this pandemic is happening but long after as well. Speaking of home delivery, services like Instacart are thriving. People don’t want to hang out in grocery stores anymore. So, what does that mean for you? Maybe people want to support a local delivery service rather than an expensive national service.
• Medical safety products: Companies producing everything from disinfectants, to wipes, to gloves and mask and shields are thriving. This is not going to go away. Maybe you have the tools to produce some of these products.

Are you getting my point? And this is only the beginning. Look around and see what you can do to adapt to these changing times and come up with new and innovative ways to grow your business.