Getting real about this “new economy”

Ok, this is going to be a different sort of blog for me. I think it’s time to be vulnerable and having spoken with many colleagues we are all feeling the same, but afraid to talk about it. So, let’s talk about it.

We are scared. We are overwhelmed. We are exhausted.

BUT

We are determined. We are strong. We are surviving.

Being a solopreneur can be isolating at the best of times but during a mandated lockdown, it can be downright mentally debilitating. I hadn’t realized how much not being able to go work at my local coffee shop or having lunch with a friend had affected my mental health until I started to cry driving past Starbucks. I mean…this is where we are, people.

The sob fest happened at week two of self-isolation and since that time I have been much better at creating structure in my days and having more Zoom happy hours (which will be the name of my quarantine band.) We are now into day 50, as I write this and I don’t imagine anyone anticipated being in this state of flux for this length of time. And this state hasn’t just affected me personally, it has been a blow to my business.

I work mainly in tourism and culture, two of the major sectors decimated by COVID, so no big deal, right? My clients are closed, projects postponed, full layoffs and most uncertain future. I mean, who will want to be sitting in an enclosed theatre any time in the foreseeable future? It will be weeks until even local travel will be allowed and months to any national or international travel. Therefore, I have to re-think my business plan.

So, here we are. I know I am not alone in having to pivot (oh lord, I hate this word) their business in the wake of COVID but business owners need to start talking about what their future holds. And be honest about it. Were you happy with the state of your business before COVID? Were you already seeing cracks in your market share? Was the changing behaviour of consumers already having an impact? If the answer is yes to any of these questions, perhaps it’s time to reshape what your business looks like.

For myself, ABC will continue to provide consulting services in areas of marketing and communications, but my ideal client has shifted. No longer am I going to be targeting tourism-based clients, but focusing more on non-profit social sector-based organizations that will be requiring extensive assistance after this crisis. I am looking to collaborate more with other entrepreneurs on larger projects as I feel it’s important to be working together rather than competing.

And I am introducing more coaching based services. I noticed through this crisis that many businesses and organizations were confused about how to operationalize this situation and are concerned about the ramifications of the “re-opening” phases. Therefore, from May 13-29, I am offering free 30-minute Zoom sessions to answer questions and provide advice to businesses and organizations navigating the phased opening. It’s my way of giving back to the community during this time.

The “new economy” is here. Grocery stores will be continuing with social distancing measures, probably forever and people-watching at your local coffee shop will be limited for many months. Our world is going to become much smaller and slower, as we focus on hyper-local support. As solopreneurs and microbusinesses, we are in the best position to adapt to this “new economy” as we have low operational overhead and extensive intellectual capital.

We are innovative. Let’s start thinking outside the box as to what we want this “new economy” to look like and help shape its implementation. The days of the status quo are over. We cannot go back. And if we want to assert ourselves as leaders in this “new economy” it’s time to step up and take it.

Let’s start the conversation amongst ourselves to create a network of connected businesses and individuals willing to provide services for the greater good. “People over profit” is going to be heard over and over again, now let’s determine what that means to us.