COVID 19 – Creating Opportunities

The world is locking down, governments are closing boarders, people are being placed into isolation. At home in Australia, gatherings of more than 500 people have been banned with criminal consequences. Sporting events have been cancelled or played in stadiums without fans. Despite billions of dollars in government stimulus packages, the situation remains grim. Clear evidence that neither governments nor businesses control the external business environment. COVID 19 is creating chaos but is it also creating opportunities?

Not all is grim.

Amongst the hysteria created by the world epidemic of COVID 19 lies many business opportunities. Supply chains and logistics channels are disrupted. The demand for product and services has experienced change. Whether that is, the insatiable demand for toilet rolls or a need for “work from home” staffing solutions, opportunities exist.

Which opportunities are available to your businesses? Have you developed “Blue Ocean” differentiated strategies to secure new clients? 

Additionally, are there business processes, marketing and pricing changes required to take advantage of the presenting supply opportunities. For example;

  • Can your staff work from home on cloud platforms or use video links?
  • Do your competitors use overseas sourced products, can you supply your competitors or their clients with local products with higher supply certainty?
  • With many businesses experiencing a downturn in sales, are there opportunities to support local business by making strategic capital purchases taking advantage of stimulus package tax breaks?


Communication with all parts of the supply and logistic chains is critical. Including communicating with suppliers, customers and employees. Have you thought of speaking to your competitors?

 What lessons can business take away from these events?

  1. Stay calm and do not be overwhelmed by the hysteria of the event
  2. View changes in the external business environment as providing both opportunities as well as threats
  3. Allocate resources to look for opportunities and to mitigate the threats
  4. Create a plan – get organised and
  5. Communicate to identified players
  6. Divide the tasks – work as a collective – you will not be able to do everything by yourself
  7. Stay focussed – review, review, review.   

If you’re unsure about how your business and family can execute a path out, seek the assistance of an independent specialist like Woodhouse.

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