Businesses that are fluid last through the many changes in the economy and lifestyles of their customer by being flexible and reinventing themselves when needed.
When I was younger my mother told me she wanted to be a Mortician – because she would always have work. However, after working in a funeral home for a year, she realized that it wasn’t something she would want to do for her emotional wellbeing.
Even so, that was one business, that no matter what, people would always need.
Evaluate your environment for needs
The first step is to observe and research needs of customers that aren’t necessarily based on an economic abundance, but something that people will get done or a service they would need, regardless of the financial state of the country.
Some to consider are:
Car Services, plumbing, electrical services, home care services, micro-businesses, moving company, handyman business, nursing home, midwife, doula for births or deaths and other business services with very little overhead cost.
Time is money
Sometimes, as business owners, you find you may be giving away a lot of your services and products for free in order to lure customers in. Find ways to avoid having to downplay your products and services, but draw in and retain your customers.
Make your business virtual
If your business is an in-person business, find ways to capitalize off of your knowledge by writing a book on the area of your business, creating a course on your business form or doing a subscription box service. As long as you can mail someone your product, communicate with them online, on the phone, or in person – you can create a virtual compliment to your businesses.
Expand in ways that don’t cost much, but compliment
When you are building your business, troubleshoot and brainstorm how many ways you can offer the same services. Then list the compliments to your business services. After you know numerous ways you can branch your business into other areas, research the price of expansion.
Scaling up and down
Have a plan to scale your business to what your customer base needs. Hiring consultants, or contract workers for specific task can provide quality as well as allow an easy scale back or scale up for certain surges in your business.
Content courtesy of LM Preston, author of Building Your Empowered Steps and Homeschooling While Raising Amazing Learners, www.empoweredsteps.com
CONTRIBUTING AUTHOR, LM PRESTON
LM Preston, is an author, business owner, wife and mother who has written both fiction and non-fiction books that have reached best-seller status. Her passion for writing and helping others to see their potential through her stories and encouragement has been her life’s greatest adventures. She also is a personal coach who supports clients in writing, publishing, goal realization, career imagination, parenting, homeschooling while working and much more.