How will you adapt and tackle business challenges during the pandemic

With the changing nature of the global health crisis impacting our lives in different ways every day, it’s difficult to write a post and give it the sensitivity it requires.

The truth is, although it may be difficult to push through, most of us need to continue working and earning an income. So in these trying times, many start-ups, side hustles and new businesses will have to rethink the way they offer their products or services.

In my local area alone, I’ve seen many small businesses having to adapt and think outside the box, not to be competitive, but to remain in business. While the economic forecast is bleak for many, for some it has presented huge challenges that will inspire them to innovate.

Do you need to rethink your business position and your offering?

Should you:

• Offer the same product or service via online only;

• Introduce a new product or service offering to existing clients; and/or

• Offer entirely new product/s or service/s for a new client base?

If you decide you’re going to offer new products or services, offer products in a new geographic location or start a whole new business, here are some questions to ask yourself.

If you want to start a new business now:

• Is your preferred name available for use and registration?

• Have you done your due diligence i.e. searches? Will you infringe someone else’s intellectual property rights when your new business commences?

If you want to start exporting products overseas:

• Are the products protected by registered intellectual property rights overseas?

If you have a great new business idea, but you’re concerned it might be too close to what a third party is already doing:

• What is the third party’s business or product, and how does your idea differ?

• Does the third party have validly registered IP rights in Australia?

It may seem daunting but if you try and tackle one thing at a time, you will get there! Some ways in which Zinity can help:

• Branding, logo design

• Trade mark availability searches

• Trade mark protection advice

• Trade mark registration

• Strategic advice on options for brand consistency

Assess opportunities, look at things people need right now as well as in the future, and consider services or products that can help make things easier or improve lives.

Whatever you decide to do, take care of yourselves.