Could this Pandemic Create New Business Opportunities?

Posted on March 13, 2020 Updated on August 17, 2026

Originally posted on LinkedIn.com/in/chipn

For most businesses, now is a time of caution and uncertainty. Mitigation and emergency planning are likely underway. The CDC has provided solid guidance, and new information is forthcoming daily. Communication Plans are being rolled out and revised as needed. Travel and meetings are being curtailed. Disruption may become the new normal for the next several months.

Alexander Fleming, the Nobel Prize winner who invented Penicillin, is quoted as saying:

“The unprepared mind cannot see the outstretched hand of opportunity.”

More people will be working from home, face-to-face meetings will be limited, large gatherings will be avoided, and travel to those meetings or gatherings. Working from home can be challenging for people not accustomed to it, so helping them transition may be very important to your financial bottom line.

Collaboration tools like Slack, Basecamp, and Asana can help maintain productivity and foster necessary interaction. Some tools include video conferencing; tools like Zoom or Webex can help internally and externally. Seeing the person you are speaking with increases engagement and leads to more effective communication by helping you spot nuances, such as facial expressions, that could otherwise be missed.

Secure, easy-to-implement tools (cloud-based solutions have an advantage here) that are easy to learn and use can be a cost-effective way to keep your business on track. Another benefit is building an effective distributed workforce.

But wait, there is more!

You may have important projects you can pull in and start now. That is another way to keep your teams engaged and focused. This could also be an opportunity to enhance skills with online training or research new technologies or business models.

This could also be a great time to buy and sell products and services. Business demands could temporarily decrease in many market segments.

• Sales organizations could use that opportunity to offer appealing deals to customers and prospects.
• Buyers could use their ability to purchase quickly to secure better deals during this lull in business.

Reasonable concessions can be mutually beneficial and a boon for both parties.

Negative events like a pandemic are not ideal and should not be taken lightly, but they can create opportunities to advance your business and position you for even greater success once the situation is under control. It is like that old saying, “When life gives you lemons, make lemonade.”