Shaun Stenning Turns Lemons Into Lemonade

One of the things I have regularly seen during the Covid 19 Pandemic are business owners and entrepreneurs complaining about how the market conditions have changed and their business is suffering because of it.  They keep looking forward to when things can return to “normal” or they are just implanting a few safety precautions and calling that the “new normal”.

In my view if you really want to market yourself as being “new normal” ready then you really need to change things up more than just adding in a few safety precautions.  As entrepreneurs, we have to understand that the Covid 19 Pandemic has provided us with an opportunity to see the glaring holes in our companies and repair them.

For example, one business that Shaun Stenning invests in is in the Tourism Industry and was heavily reliant on International Market customers.  In fact, the business probably had a 90% reliance on international market customers.  When the Covid 19 Pandemic hit this Shaun Stenning investment turned from profit-making to loss-making within 30 days.

Shaun, seeing the opportunity to make lemonade out of lemons quickly advised the company on how to adjust and adapt.  The company took on this advice and within 30 days had built a large network of Domestic resellers and was able to get back to an operational level that their competitors could not match.

This adaption from an International Market to a Domestic Market was not as easy as the needs of the Domestic Travellers are different from the needs of the International Travellers but the pivot provided the company with an opportunity to create a market that they previously did not have.

Now you may see this as a short term pivot until International Borders open again, but the reality is that the Domestic Market position of the company is strong now so when International Borders do open, Domestic Demand should remain at a reasonable level meaning levels of income post-Covid 19 should spike.

Also this has provided a chance for the business to build a strategy that could cope inthe event of another virus like Covid 19 shutting down international tourism.