In this blog series, we’ll hear Team Alice members share their areas of expertise that can help you with your business.
With the coronavirus affecting most aspects of our daily lives, it’s no surprise that it's also impacting businesses in a big way. Many founders are pivoting their businesses to reflect the current environment and market.
Like many businesses, Hello Alice refocused our goals in response to the crisis. In early March, we had launched Business for All, a nationwide movement that connects small business owners with mentorship and funding. But with the acceleration of the coronavirus and its tremendous impact on the small business community, Hello Alice decided to make a quick change of plans.
In light of the pandemic, Hello Alice created the COVID-19 Business Resource Center, a website where small business owners can find the resources and funding available to help get them through the pandemic. We also launched a grant program to provide $10,000 emergency grants to small business owners impacted by the coronavirus.
So how can founders pivot their businesses? Jenny Zhou says to consider all the ideas their business can switch to. “Think about what your community needs right now,” she says. “What are your customers struggling with? List those answers out and see if you can connect those needs to your current business. Think big, creatively, and outside the box.”
Zhou is the director of strategic initiatives at Hello Alice, leading the day-to-day execution of projects to ensure that Team Alice hits its deadlines and deliverables for business owners who use the platform.
And these deadlines and deliverables helped Team Alice launch the COVID-19 Business Resource Center. Founders, too, can accomplish their pivot by splitting their goals into smaller, manageable tasks. “An initial idea at the beginning can be incredibly overwhelming,” Zhou says. “Break it down into milestones and then break it down further into daily tasks. Start first with setting deadlines for the big goals, then the milestones, and then the tasks. This way, you have a clear vision of your big goal and an understanding of how your daily tasks are connected to the big goal.”
Founders may find that pivoting their business isn’t easy. Your initial ideas may not come to fruition the way you had originally expected. But that doesn’t mean you should stop your business from pivoting. “Remember, the first rollout of your pivot idea doesn’t have to be perfect. You’ll continuously iterate to make it better,” Zhou explains. “We have a team value at Hello Alice: simplify and commit. We focus on acting quickly and testing often. Especially in uncertain times like these, taking action is critical to staying in business.”
And taking action, like pivoting your business, may be an option to get through the pandemic.
Discover how founders are pivoting their businesses at blog.helloalice.com.