Closed stores, empty warehouses, bars that are closing ... there is no doubt that COVID-19 has taken a strong toll on the world´s economies putting businesses on the limit and forcing them to take drastic measures to survive. 2020 is a year that we all want to forget, but if we flip this situation, we may realize that it is also a year for inspiration and creativity, an opportunity to reinvent ourselves. In today's article, we will review how the covid-19 crisis has changed the business world as we knew it, and we will analyze some real-life examples of companies and entrepreneurs that reinvented themselves to turn this crisis into an opportunity.
According to Luis Buzzi, Head of the Tourism and Innovation department at KPMG in Spain, “Business models will change and those that provide an added value will remain”. In the future, there will be an increase in personalized experiences and events. Those unique moments will gain weight when searching for time to relax from the stress that the quarantine has generated. No question that price will continue to be the main customer driver, but security will take the key lead consideration. The digital world, artificial intelligence, and analytical models will be the top priority when identifying specific customers’ needs. In addition, and according to The Good Rebels, digital marketing will be the main acquisition and sale channels for up to 83% of the market companies. Brands are also expected to explore new lines of product innovation, new channels of digital awareness, reinforce investment in fidelity programs, and promote aggressive recruitment strategies.
In order to understand better how businesses have been forced to reinvent themselves in order to survive in times of COVID-19, we want to present some real-life examples of successful ventures during the pandemic.
1- A Nightclub (online).
Can you imagine a dancing party with over 500 people, a DJ, dancers and entertainers? It seems a thing of the past, but the Colombian Sebastián González had the idea of reinventing the world of party entertainment through the Zoom video-calling platform. The “promise of value” they offered was that you would be able to meet new people and make new friends with the security that the system offers. At the beginning they offered free entrance but now they charge $ 5 to men and it´s free for women. This idea has caught the attention of several liquor stores that have already begun to develop strategies to promote the sale of their products in this peculiar nightclub.
2- Online Karate Academy.
We are talking about Antonio Diaz's new venture, a Venezuelan karate fighter and twice world champion. Due to the quarantine, Mr. Diaz was forced to close the dojo where he offered his lessons. He became aware that the situation was not a temporary condition, and he decided to turn his business into an online dojo. He began teaching through the dojo's Instagram account, and he realized the great impact of his classes with many students attending, even international students following his broadcast- Now he has turned to an online format giving his business a second life, he now has greater visibility and new opportunities unfolding.
3- Copper Masks.
Both Chilean Luz Briceño, and commercial engineer Soledad Silva, had been researching textiles with antibacterial properties for years. With the arrival of the pandemic, they founded The Copper Company and began to manufacture masks with fabrics made from nanoparticles of copper. While doing their research they concluded that the COVID virus had a life span of 4 hours in copper while in other materials such as plastic or stainless steel, the lifespan will expand up to 3 days. In less than a month they managed to sell 60,000 masks and create more than 70 jobs.
4- Breads through an App.
The “Quiero Pannet” App is saving Antonio Bertasio´s business today. Mr. Bertasio used to regret the technological investment he made 5 years ago in this App. At the time the app was not successful, but now it the one keeping the business alive. During the pandemic, Antonio went from supplying bread to institutions, restaurants, and canteens to private consumers. During the quarantine, his team with the help of argentine media focused on publicizing the App and this turned out to be a great and successful idea.
5- Study abroad online.
Our new international virtual classroom (NIVC) offers an innovative experience for study abroad offering the opportunity to share the virtual classroom space with students from other countries from the safety of your home. This is our response to the lack of mobility in the times of COVID. When the world went under lockdown, we had two options, close our HQ in Spain or find an alternative fulfilling experience for our students. We decided to go for a new virtual education model, based on six fundamental premises; offer small private virtual courses, include a diversity of international students in the class, hold daily synchronous classes via Zoom, offer workshops and round tables discussions with professionals, integrate the working on an international digital collaborative project and include a virtual cultural activities program.
The theme of our courses focuses on student´s demands, and we offer virtual language learning courses (English and Spanish), digital humanities, fashion, marketing, or entrepreneurship courses. According to Dr. Marta Walliser, this innovative international virtual classroom model offers a real, technological, and economic way to maintain international virtual programs in times of pandemic and still to offer students a meaningful opportunity to study abroad from home. A great opportunity to start working on your future now.
Do you need inspiration? Would you like to move forward in your career o your studies in times of COVID 19? Infinite Spur is right by you offering international, virtual courses to help you prepare for the new world market. Take a look at our online Leadership for the Future program and make this your head start! In this course, you will learn to focus on the future, empower your different leadership styles, develop a feasible action plan, and follow through with it. This will take you or your business to the next level. We also want to invite you to enjoy our 1st International Fashion and Design Conference that took place last week with institutions from Mexico, the USA, Perú, and Spain.
These sessions feature successful entrepreneurs from different countries that are making it through in the world of fashion during times of covid-19. If you want to know more, visit our website www.infinitespur.com, or follow us on our social networks. You can also contact us directly at email@example.com.