Embracing challenges and finding new success
This isn’t the first time there has been an economic shift. The 2008 financial crisis was the largest since the great depression, and businesses were forced to adjust to the change in economic climate. There are success stories of businesses that weathered the storm and came out even stronger.
Moving to a web-based model
Pepito’s Ice cream was opened in 2007 by Nancy Rosales and her sister, and with the 2008 economic crash, they went from $1,000 per day to $100 per day and were forced to close in 2010. Even after closing, they were still getting phone calls requesting their paletas (Mexican popsicles) so Nancy decided to go into manufacturing at a commercial kitchen using her grandparent’s recipes and moved to a completely web-based model to deliver her products directly to the customers. She went from needing to close her business to her business reaching 5,000 paletas a month. Her shift in the way she reached her customers brought her business to huge success.
Altering your product format
There’s a classy little cocktail bar in Orlando, Florida that has readjusted their products to suit the demand. Orlando is a tight nit community, especially the Mills 50 local bar community. People want to stay loyal to their local bars and not shop at the larger format liquor stores. Sunroom is taking their most popular drinks and selling batched cocktails so customers can enjoy them at home. This has become so popular that they limit 4 bottles per customer. They’re also selling merch like pins and shirts with all of the sales to go towards their employee fund.
Making your product accessible
Emma Jory at epilatesonline.com is a pro when it comes to online fitness classes and has been utilizing this resource all along with extensive and personalized programs for her clients. There has always been a need for remote classes. She’s great in her specialization and her workouts don’t need any equipment, they can be done virtually anywhere. Now everyone is following suit. Health and fitness are important to maintain, and most people need to stick to their normal routines because it helps hold them accountable. With the need for virtual classes, studios all over are offering online fitness classes.
These changes should be embraced and looked at as exciting new challenges. Dive into your creativity, and find your new success. After all, facing challenges is how we grow.