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  • #1222866
    MH08
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    Theres two ways you can essentially look at it I think personally. Massive opportunity or exceptional failure. Just depends which side of the coin you looking at.

    But from experience, people in business who were you friends are most likely aren’t anymore. From what I remember everyone to slowly feel for each other, and slowly the cannibalising starts against one another.

    Look at it one of the best learning curves to date because this won’t happen all the time, recessions come and dips and gains come and go but true mettle will be tested this time round.

    The most realistic factor of all this is cashed by buyers looking to by businesses on the cheap and you don’t really have to be that cashed up either, I mean I’m staring at some old competitors that are running the gauntlet but bones won’t be left behind this time, the entire carcass will be there for the taking.

    I’d allocate as much capital as possible to acquire dead competitors out and keep moving forward and business plans would essentially have to change dramatically.

    There is so much opportunity but people are looking hard enough really think outside of the square.

    A friend of mine has a huge restaurant, died, literally rang me crying. I said it’s fine divide up the space to create a hub for people with online businesses and charge $50 a week per person. Managed to bring in around 25-30 people renting out space because it was cheaper then what they were getting at larger incubators and closer to home for them.

    Another turned his business into a grocery store, filling his own fridges with pre made meals for local community.

    Offer what’s in demand now to survive it regardless of the ego.

    #1222867
    Paul – FS Concierge
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    Nice post [USER=37395]@MH08[/USER] !

    #1222868
    Tom ISW
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    A lot of my business has dried up, even before the pandemic hit our shores. Today my largest client has deferred all new work until at least June.

    Serendipitously, I’ve been reading a book called The Obstacle is the Way by Ryan Holiday. It explores the Stoic philosophy and how we can change our perception of a crisis to overcome the crisis.

    To use an analogy closer to home, in a video game, we only know we’re going in the right direction because we’re facing enemies, solving puzzles, and encountering locked doors.

    For business owners in this pandemic, we’re facing enemies (economic downturn), solving puzzles (how do we keep our cash flow up), and encountering (literal) locked doors.

    I started plying my trade to resume and tender writing, opening up a mini-site for it. I figured demand for this will be higher than ever over the next two quarters or so.

    I’ve also set up a new online support group for men dealing with anxiety and depression issues, as our usual meetups are no longer tenable.

    If things get especially dire, I can use my car to deliver supplies or food.

    As [USER=37395]@MH08[/USER] says “Offer what’s in demand now to survive it regardless of the ego.” No job is beneath us. Not now, not ever.

    #1222869
    Henri K
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    Tom ISW, post: 269277, member: 54379 wrote:
    in a video game, we only know we’re going in the right direction because we’re facing enemies, solving puzzles, and encountering locked doors.

    Yeah, but that is only because the video game programmers don’t waste time in designing a long track of enemies, puzzles and locked doors in the direction where you are not supposed to go…

    Unfortunately, the real world is not designed by video game programmers, so even if you’re going in the wrong direction, you still face a long track of enemies, puzzles and locked doors, without a clear end or external reward.

    #1222870
    Tom ISW
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    Henri K, post: 269279, member: 115510 wrote:
    Yeah, but that is only because the video game programmers don’t waste time in designing a long track of enemies, puzzles and locked doors in the direction where you are not supposed to go…

    Unfortunately, the real world is not designed by video game programmers, so even if you’re going in the wrong direction, you still face a long track of enemies, puzzles and locked doors, without a clear end or external reward.

    Sure, if you take what I said literally.

    #1222871
    Paul – FS Concierge
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    Thanks for sharing [USER=54379]@Tom ISW[/USER]

    It has always struck me that there are golden opportunities but also big risks in having one or more major clients.

    Good luck with the mini-pivot and I agree with the sentiment about work – working in employment services, we had a client – a doctor in another country, point out about his new job in Housekeeping, “There is dignity in all work”.

    Cheers

    #1222872
    Tom ISW
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    Thanks [USER=78928]@Paul – FS Concierge[/USER]!

    Also a friend of mine has set up a new community website while in self-isolation: crisisheroes.com.

    It’s sort of like Uber for connecting volunteers to those who need help during this pandemic (or any other crisis for that matter!) I hope you’ll all take a look.

    #1222873
    Paul – FS Concierge
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    Tom ISW, post: 269310, member: 54379 wrote:
    Thanks [USER=78928]@Paul – FS Concierge[/USER]!

    Also a friend of mine has set up a new community website while in self-isolation: crisisheroes.com.

    It’s sort of like Uber for connecting volunteers to those who need help during this pandemic (or any other crisis for that matter!) I hope you’ll all take a look.

    Hi Tom – That is such a great idea – I signed up and offered to help in my local area. Thanks for letting me know about it!

    #1222874
    Paul – FS Concierge
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    Tom, I worked employment services and had a successful US based recruitment website for a few years.

    I have some ideas around resumes that might be worthwhile discussing – basically, “New Features”. If you want to discuss them, PM me.

    In case it is not clear, I am not looking for money.

    #1222875
    Paul – FS Concierge
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    I have an update about my business.

    Most days for the past week and a half, I have received notifications of cancellations.

    To date, we have lost 21 customers from a pool of slightly more than 100.

    Preparing for the day when normal programming is continued, I can’t stress enough the advantages of aiming for a very broad and deep base of customers if that is something you can control.

    I have also banged on for years about the advantages of having more cash in the bank than you think you need. In normal times, if nothing else, it cuts down on the stress level of running a business. In times like these, it can be a saviour.

    All lost customers have said they will be coming back to us when they re-open and so many are so apologetic when letting us know.

    We have some amazing customers – one gave us extra work solely on the basis that they wanted to help us! Incredible.

    One supplier didn’t know how he was going to pay his rent and other bills. He was devastated having run his business on low margins, for over a decade and was now facing a financial meltdown.

    I let him know about the QLD Government Loans scheme – was he happy! Hope and optimism are traits that a lot of business owners have and my supplier allowed his to peek out from the virtual doona he was hiding under.

    It fills the heart.

    #1222876
    Dash Freight
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    Rowan@quaotic, post: 269039, member: 28171 wrote:
    After just starting a little tour business which has barely got off the ground I am in the poo now. I am having to consider pulling all the seats out of my minibus and try to get work doing deliveries. At least it will save on insurance.

    If that doesn’t work I don’t know what I am going to do as I am about out of money and no-one is hiring.
    Hi Rowan, that’s a really tough place to be. When I was short of cash I signed up to Zoom2U – it’s an uber format for parcels, courier work. Give it a go. They are well organised

    Rob Dash E: [email protected] M: 61 423 136 053 Quotes: https://tinyurl.com/yae7tbj6 S: live:rd2221
    #1222877
    Rowan@quaotic
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    Thanks Rob, but I live in a small country town in the middle of nowhere. I will have a look though. I am starting to get a few local deliveries now and I hope it will grow.

    #1222878
    Rowan@quaotic
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    I just messaged them and they are not taking any more couriers due to the virus. I find that a bit odd as the small amount of work I am picking up is because of the virus.

    #1222879
    Greg_M
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    Somewhat ironic for an old bloke that was considering full retirement, but it seems I’m going to be busier than I have been for a very long time.

    I was going to spend the winter travelling parts of the outback, ha ha.

    Seeing I’m stuck, and assuming the virus doesn’t get me, (68th birthday coming up) an old mate and I have decided we can’t resist having a dip (we see opportunity everywhere we look) and have entered a loose joint venture agreement that benefits both of us.

    He has a business of 30 years standing, profitable with at least a 4 month forward order book, and in the box seat when the government starts chucking money at getting the economy moving again. The business is well managed but stuck in the stone age when it comes to digital innovation.

    So, we’re going to use his business as a type of case study…renovate it from top to bottom as a model of low cost information systems with a focus on mobile tools connecting to everything in the back office (his work force is out in the field, currently using costly paper admin systems).

    If we pull it off, he gets a more saleable business in a year or two. I get the systems/methodology to sell as I please.

    Our rationale is that many micro businesses are crap at the digital world, but are going to be in deep shit without low cost systems moving forward…and that a lot of them are going to back away from paying for ad hoc apps that quickly add up to big $…that we don’t believe anyone will be able to afford.

    As old hands, we believe the world will move on (as it always has) but cost will be a HUGE issue.

    At the very least I won’t get bored this winter :)

    #1222880
    Paul – FS Concierge
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    Good on you [USER=38207]@Greg_M[/USER] – there is nothing like a live business to work on to work out what the real life outcomes can be,

    I hope you will document your work and the subsequent benefits every step of the way – this will be invaluable for future marketing opportunities.

    Judging from living through previous recessions, I agree that many will fall by the wayside and many will thrive post the pandemic.

    Good luck young fella!

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