The world looks entirely different from just 30 days ago; the COVID-19 pandemic that is sweeping the globe has brought about significant changes to businesses of all sizes and industries.

We have seen instances over the last month where business models which were previously in demand are now obsolete, and other cases where businesses which were previously not accessed by certain populations have seen a spike in revenue.

Our team at GippsTech wants to help and support as many businesses as possible through this difficult time, and we have put together an Innovation Consulting Package to do just that. 

If your business model needs a makeover, or you need assistance in defining some new areas of revenue, this package can help you adapt and continue to thrive in this economic climate.

What is included:

• A business stocktake: A workshop that covers business history, assets such as websites and brochures, and business projections to determine the length of the “runway”.

• Business model ideation: Consultant idea generation and research, as well as a client idea generation workshop, which includes researching strategic areas of opportunity, identifying gaps in the marketplace, competitor analysis, emerging trends of current products and the ability for new product extensions. 

• Decision-making mapping: A workshop to identify the impacts and risks of the ideas generated, working towards a prioritised list of the top 3 opportunities.

• Report and action plan for next steps: The final deliverable is a report that describes and scopes the top 3 opportunities for the business, as well as a plan describing how to test each idea before implementation.

There is funding available that may enable you to access this package at no cost to you, so please reach out for a free 30 minute consultation if you'd like to learn more!

The world looks entirely different from just 30 days ago; the COVID-19 pandemic that is sweeping the globe has brought about significant changes to businesses of all sizes and industries. In times of rapid change, businesses that can innovate and adapt quickly are the ones best placed to survive and thrive.

In a recent interview with Steve Blank, Steve Glaveski, founder of Collective Campus Innovation Consultancy in Melbourne, writes that leaders must understand their “innovation runway”, and ask themselves if this crisis is a three month, one year or three year problem so they can adapt accordingly.

“The shorter the runway and/or the longer the problem, the more drastic the action that leaders need to take”, says Steve.

In some circumstances, businesses will have to change their model entirely in order to survive this global pandemic; but those that can adapt fast may actually see a growth in their business at this time.

The businesses most likely to have been affected by the crisis are those who:

• Rely on face-to-face business

• Rely on a local customer base

• Already had slim margins

• Have lean operations and resourcing

• Have limited internal tech and innovation capabilities 

These issues are resulting in significant revenue losses, which are currently causing staff lay-offs, and unfortunately, business closures. 

GippsTech can provide an innovation consulting package to help your business innovate its business model to survive the current circumstances. Government funding is available to help businesses affected by COVID-19 adapt their services and business operations, so you may be able to access our services at no cost to you. 

An example of this is Zoom, a world-leading video conference platform. Given that almost all workers are now working remotely from home, they have seen their stocks increase by 50% in the last 30 days. 

Some examples of Gippsland businesses which have adapted their services in response to COVID-19 include Fern & Frost and The Biscuit Shop. Annebelle van Tongeren, yoga instructor and founder of Fern & Frost, has replaced her face to face yoga classes with virtual yoga classes. These classes are run through a subscription-based Facebook group, which has given Annebelle access to wider markets who she previously could not service with her face to face offering. 

Jamie and Sarina Sciberras, founders of The Biscuit Shop, have seen an impact in biscuit orders from their restaurant and cafe wholesalers. This forced them to focus on their supermarket accounts, and they launched a new “DIY YoYo kit” for kids to bake at home with their parents, which sold out in 2 days. 

Our Innovation Consultation Package can assist you in pivoting and adjusting your business model and offerings to meet new markets and demands.

This package fits within the budget of most government grants to support COVID-19 affected businesses, and we can help you work out which grant is most suitable for your business.

What is included:

• A business stocktake: A workshop that covers business history, assets such as websites and brochures, and business projections to determine the length of the “runway”.

• Business model ideation: Consultant idea generation and research, as well as a client idea generation workshop, which includes researching strategic areas of opportunity, identifying gaps in the marketplace, competitor analysis, emerging trends of current products and the ability for new product extensions. 

• Decision-making mapping: A workshop to identify the impacts and risks of the ideas generated, working towards a prioritised list of the top 3 opportunities.

• Report and action plan for next steps: The final deliverable is a report that describes and scopes the top 3 opportunities for the business, as well as a plan describing how to test each idea before implementation.

The total time commitment for you is about 1.5 days, over the course of a fortnight.

Through innovating your business model and services, it is important to understand how you can continue to service previous or current customers within your new business model. By doing so, you are more likely to succeed as you have a network of warm leads who are ready to buy from you.

Recently, our team at GippsTech have seen shining examples of this through the Startup Gippsland Innovation in a Crisis campaign. The campaign's core focus has been to interview alumni of the program and hear how they have innovated and pivoted their business in response to COVID-19. 

In times of adversity, it is important to ask difficult questions and identify what is currently not working in your business in order to open up the door to creating new opportunities. While the crisis has created many hardships and difficult times, it has also created space for new, innovative ideas to reach the marketplace. If you can tackle these new opportunities whilst still making best use of existing resources, people, intellectual property, systems and technology, then you are already steps ahead in pivoting to where you need to go. 

It is helpful to have advice and support through navigating these new territories and challenges your business is facing, which is why we developed the Innovation Consultation Package. 

To find out more about how our team at GippsTech can assist you in innovating and adjusting your business through this time, contact us for a free 30 minute consultation and find out more about the Innovation Consultation Package. 

We can also offer assistance to help you secure funding and grants for your business, and we recently wrote an article which outlined more information HERE. There is funding available that may enable you to access this package at no cost to you, so please reach out for a free 30 minute consultation if you'd like to learn more!