🚀 4 New Ways To Pivot For Profits

Sandy Okin, a 44-year veteran small business owner and head of Studio O LLC in Fairfield, New Jersey, has developed many talents over the years -- art, packaging design, marketing, networking, and several others.

Like many small business owners, some of Sandy's talents have come in handy to help streamline his more substantial efforts -- and they might have even turned into a side hustle or two. 

During the Coronavirus Crisis, Sandy's massive trade show exhibit business sadly went on hiatus -- first internationally and then nationally. 

Before he knew it, Sandy had to PIVOT in a big way.  

Small Business Advice: Pivot As Fast As You Can

One of his "side gigs" was constructing the crates to ship the trade show exhibits/booth displays he created in his studio to convention centers and to clients. 

As you'll see in his video, he had been approached about 18 months ago by a medical device company, which wanted him to design specialized crates to protect its high-tech medical equipment during shipping. 

So he turned the crate-building talent into a full-fledged side business.

COVID-19 Appears & It's Time To Shift Gears

As the COVID threat invaded the lives and livelihoods of small business owners everywhere, Sandy found that major PIVOT was literally right in front of him, and he went full steam ahead into the medical crate-building business. 

His past training as a packaging designer no doubt helped him in that capacity, as well.  

Turns out that medical company that helped him create the side business is now working 24/7 to design and manufacture medical equipment that's in very high demand, especially as hospital tents have been set up -- and the entire healthcare system is expanding.

So, Sandy, a gentleman who has been involved in trade shows since 1976,  now finds himself in the middle of a new and booming international healthcare industry. 

And demand for his crates is increasing substantially, as his client's medical equipment is being shipped to more and more hospitals across the globe.

4 New Ways To Pivot For Profits

Beyond its inspirational qualities, Sandy's story highlights at least four different ways that small business owners can use to find, create, or take advantage of the right pivot for them -- preferably one that also matches today's new world and the recovery to follow. 

1. Tap Your Versatility

Chances are good you're not just talented at one thing, even if it's brought you pleasure and profits for years. You've also likely needed to revamp your offerings at least every year or change things up from time to time. 

Well, in this COVID world, it's time to be even more creative -- it's time to reinvent yourself and your business. 

Look at what you're good at and then look at the industries that are emerging -- and try to match your talents to the needs the marketplace is presenting. If you own a restaurant forced to only serve take out, then create one heck of a delivery service for your food -- and maybe expand it to supermarkets that might need goods delivered to their customers. You might surprise yourself and find that the delivery service becomes a major side business that ends up bringing you more profits than you would have normally had if you had just stayed in the restaurant business. 

One of our other recent interview subjects and another PIVOT MASTER, like Sandy, is Lauri Dixon of Party Plus Tents and Events in Maryland. Until the recent Coronavirus Catastrophe, she had a booming business providing tents and event planning for graduations, weddings, festivals and other fun activities. But the fun went on vacation soon after COVID-19 appeared and everyone postponed their events indefinitely. 

Through a referral, Lauri met someone from Johns Hopkins who needed help with Temporary COVID-19 Testing Tents. Within a few days, Lauri found herself in an entirely new and different industry, saving her business while also saving lives! She got her start at Johns Hopkins and then other hospitals throughout her region reached out to her, too. 

Similar to Sandy, Lauri had to regroup and look at what she had -- her talents, her tents, her creativity, and her can-do attitude, and she made the perfect, profitable pivot for her business needs. Even if that pivot a few months ago would have never occurred to her at the time.

2. Fish Where The Fish Are -- Seize Opportunities

Like Sandy and Lauri, can you possibly find any opportunities in the medical field that never seemed possible previously? It's a whole new world where masks, face shields, hand sanitizer, gloves, cleaning services have never been so necessary. 

What are the needs that you see in your community or region that could be just right for one of your talents? Or what about the small businesses that have been closed, can you offer their owners something to help them plan for the recovery? 

Counseling, coaching, babysitting, teaching, website building, or social media marketing -- all of these options could help other small businesses land on their feet -- and lead to pivots or at least extra income for you.

Maybe you don't need as much space in your store or office as you did before and you can double up with a complementary business -- perhaps, a coffee shop can team up with a dessert destination. 

You can offer two businesses rolled into one, split the rent for one space, and beef up your bank account as you get back on your feet.

3. Amp Up Your Networking Online & GO DIGITAL

Beyond being a Small Business Guru, Sandy is a Power Networker in his region and usually has frequent, in-person social events and meet-ups. 

But given the COVID Crisis, he has migrated those networking events online to stay in touch with his many contacts and to give them advice on everything including pivoting in this down economy.  

Here at Alignable, we have a Local Leader Program that has also gone from community meet-ups to big online events. And as some of our networking experts have seen, these online events generate many more participants than the in-person events ever did.

Certainly, online networking is here to stay, even if some people go back to Meet & Greets in restaurants. Oh, and one other benefit of the online networking events is that you broaden your reach beyond local, to national or even international referrals, relationships, and even new business.

Beyond the online networking, if you haven't done it already, make sure you integrate a digital element into your business or enhance what you're already doing online. 

Tracey Lee Davis of ZingPop Social, another recent interviewee, is a Social Media Guru and she has some great stories about people who have made major digital pivots in terms of how they conduct their karate lessons and their fitness sessions. 

Now everything is online and those businesses have kept money rolling in, as well preserving and even bolstering the vital relationships they have with their customers.

4. Start Sharing Your Advice & Stop Selling (For A Bit)

In Sandy's video, he describes the story of one of his friends who sells insurance. As COVID-19 started to scare everyone into closing their offices and staying at home, her ability to visit people to discuss insurance policies pretty much dried up. 

Plus, no one really wanted to buy insurance when their worlds were turned upside down.

So, he advised her to stop selling and start sharing her advice, continuing to network with people during this down time. 

Some likely involved insurance, but it was still general advice, and not focused on selling anything. 

And now, as people are beginning to plan for a recovery, the insurance landscape is starting to change. 

So, in the near future. some small business owners might welcome advice from someone in the know about the types of insurance they might need after they're allowed to reopen their businesses again. 

In that case, the free advice she gave many people during this time could easily lead to business for her once business owners reopen. 

And, by the way, as Sandy says, people liked her advice so much, they started paying her for it, so she created her own side hustle that could help her grow her business even more rapidly in the recovery phase. 

Please feel free to add your advice to this list on the best ways to create pivots, as well, and be sure to see Sandy's video. 

Thanks for reading and watching. #SmallBusinessStrong