While the global pandemic has disrupted economies and industries around the world, many small businesses are fighting back by pivoting and creating disruptions in their own market. What emerges are inspirational and admirable examples of how businesses can respond to challenges that are outside of their control.
In this video, I talk about three small businesses, how they pivoted and adjusted their businesses, and how they took advantage of the changing needs in their respective markets during the Covid-19 pandemic.
The global health crisis has brought about sweeping changes in how we work, where we eat, where we go, and how we go about our daily lives. While many have been negatively impacted by the pandemic, there are some businesses who have been able to turn things around and make the best out of this situation.
This is exactly what three businesses—Single O, Walks, and Education Perfect—did. In what is now known as a #covidpivot, these businesses have been able to create a new business model, a new product, and a new market for their business, respectively.
New business model: Single O
Founded in 2003, this café based in Sydney serves customers with ethically sourced coffee. Before the global pandemic, they operated three cafes, a stall at a local farmer’s market, an overseas branch in Tokyo, and also a thriving wholesale business.
When social distancing restrictions were imposed, they immediately switched to a takeaway model. More notably, within 48 hours, they created a special blend they called “Stimulus,” which was meant to give people a “caffeine hit and a boost in productivity” because they wanted to bring something uplifting to an otherwise difficult situation.
They didn’t stop there. They added a pantry that sells like butter, eggs, and flour because they knew that supply of these essentials would become an issue. They also started making restaurant-quality ready-made meals; vacuum packed for people to enjoy at home.
They also partnered with their wholesale customers in a program they called “Kickback,” where their customers earned 30% in coffee credit if they ordered directly from them, thereby creating an incentive for customers to come back and order from them again and again. They also launched “Parachutes,” ready-to-go, single use bag of coffee grounds. They’ve also partnered with new businesses and hosted brewing masterclasses on Instagram.
They are still innovating. They are redesigning the café customer experience for the post-covid new normal. This includes, among others in their pipeline, the world’s first self-service batch brew tap system.
New product: Walk’s Tours from Home
Founded in 2009, Walks is a tour company that offers walking tours of cities in Europe and the USA.
The travel and tourism industry is one of the worst-hit industries in the world. To support Walk’s guides, to keep their customer base engaged, and to nurture brand awareness, the company launched Tours from Home, a virtual city walking tour where guides, chefs, and storytellers engage their customers in the comfort of their homes.
According to their website, these special “Tours from Home” feature limited time only content covering topical, provocative, and fascinating subjects not generally covered on existing Walks tours. While these tours provide an entirely different experience, these provide measures to help keep the company afloat, support their partners, and continue to engage their customers.
New market: Education Perfect
Based in New Zealand and with offices in Australia, United Kingdom, United States, and Singapore, Education Perfect is an education platform that claims to “enable transformative learning and learning experiences for lifelong learners.” They offer education platforms for home, school, and work.
As schools physically shut down across the world and learning moved to the home, Education Perfect grabbed the opportunity to push its platform to new markets. They offered free licenses for institutions in Asia at the beginning of the outbreak, which they allowed schools to use until May. They expanded their offering worldwide as more countries were forced to lockdown and keep people home.
In the process, they were able to sign up more than half a million users in over 100 countries.
Single O Café, Walk’s Tours from Home, and Education Perfect are just some of the many businesses around the world that have adapted in response to measures introduced during the pandemic. This is by no means an exhaustive list of business models that have emerged. Do you know of other businesses who have successfully pivoted? I would love to hear these stories, send me an email, and let’s chat.