My first business was home and business restoration services. We were the people that got called when you were likely having the worst day/week of the past 10+ years.
One of the common occurrences we would see were homes that had been burned.
The level of burn was anywhere from a small kitchen fire to a near total loss. We’d have to scrape the slab and start over.
The interesting part about the more severe fire losses was that in some cases, the homeowner had the opportunity to reset their home.
Could they totally transform it?
But many times they could eliminate a wall or make some sort of major structural change.
See when you first move into a home, the walkthrough in the buying process gives you nearly zero concept of how it will be to live in it.
But after you’ve been living in it for 3 months or so, you start to see that there are some sub optimal layout points.
The problem is; doing a remodel after you moved in is a nightmare; so you walk around with a rock in your shoe all the time. A subtle annoyance.
But there’s so much momentum you can’t just stop.
But when a fire hits, and your home has been partially destroyed, you can often rebuild it with some minor changes that make it MUCH more livable.
See; during COVID, MANY businesses were impacted like a fire rolling through a building.
Maybe there’s still some framing left but the business has been largely gutted. Sales might be down to 10-20% of what they were pre-COVID.
NOW you have the opportunity to entirely change your business and business model if you so choose.
Two of the most common issues I’ve run into with companies DEEPLY impacted by COVID was they were already teetering around profitability and scalability, and COVID made them go largely dormant.
So now that you’re rebuilding your business; here are a few questions I’d like you to ask yourself:
→ What is our business model? (this is the #1 most important one to answer)
→ How should we “remodel” it? What’s the plan?
→ What lines of business should we QUIT or NOT bring back.
→ How do we update our pricing?
→ How do we focus on the 80/20 of our business? AKA the 20% of products/services/customers that generated 80% of our profits.
2020 was devastating – there’s no denying that.
But that also means that post-COVID 2021 is a chance to change your business in a major way. Cut the fluff, drop the dead weight, and double down on your strengths.
If you can do that – and ONLY that – you could turn last year’s disaster into just a temporary blip.