Any ideas as to how I can restructure/diversify my business due to the current market climate? - Seedly
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Anonymous

Asked on 31 Jan 2020

Any ideas as to how I can restructure/diversify my business due to the current market climate?

I hope to seek some advices from more experienced entrepreneurs as I have just started a business after leaving the corporate a year ago.

With this wuhan virus going on, my business is greatly affected as many people are not as keen to attend hobby classes.

Can anyone pls be so kind to enlighten me on what other business idea I can possibly explore during this period? I'm thinking of dropshipping. Any advice is really appreciated as I'm really at a loss.

Thank you everyone in advance!!

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Boon Ming
Boon Ming
Level 5. Genius
Answered on 07 Feb 2020

This virus would definitely give a huge impact to all businesses especially those that involve human-to-human interaction.

One thing that look good now would be selling stuff related to health care. Selling like hot cake now.

Jokes aside, wish you all the best!

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Liu Yuantai
Liu Yuantai, Coach, Speaker at Happy Man Club
Level 4. Prodigy
Answered on 03 Feb 2020

Hi Anon,

Thanks for the question.

You won't be the first to ask this.

First of all, what type of hobby class are you conducting?

Have you already explored the various related businesses you can create from that hobby (e.g. Conducting webinar, creating e books and courses etc?)

Next, have you reached out effectively to your target market?

There are many channels available to you, and you have to find out what platforms your target market is on.

If you have already done the above, you might want to drop me an email, and let me see how I can assist you.

You may reach me at [email protected]

Wish you all the best!!

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What hobby class are you running?

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