Blindsided

Diamond jewelry.

Luxury leather goods.

Designer clothes.

Virology.

Luxury Goods and Viruses Are Related.  Who knew?

The luxury goods market has recently been decimated by the presence of an infectious disease.  Who had any idea they were related?

Blindsided

The world and everything in it is interrelated.  Some relationships are obvious.  But in many cases relationships are not understood or identified ... until they have manifested.

That's the case with luxury goods and the coronavirus.  Luxury goods have been taking a huge hit because of the fear that is keeping people out of public places. The fear that is keeping people from traveling.  The fear that is dampening people's spirits.  The fear that is making people focus on more immediate elements in their lives than purchasing luxury goods. 

Who knew?

What about your business and products?  Perhaps it's time to think about how they could be impacted by events in society or the world?  It's a daunting task to try to consider everything that could happen.  In fact, you simply can't imagine every possible scenario.  It's just impossible to consider everything that could impact your business.  

But you can ask general questions that can provide a lot of the same information, based on the result of such events.  That can be very helpful.  For example:

• What would happen if we lost 50% of our current business for 6 months?
• What would happen if we lost 50% of our current business permanently?
• What would happen if another product or solution made ours worthless?
• What would happen if we lost major personnel in the business?
• What would happen if we lost our office or manufacturing capability?
• What would happen ...if ...

 NOW, is the time for you to critically examine your business.  Your product. Your service.  Doing this can help you prepare for such events.  Even if it's just an idea in your head on how you would approach such an impact, that's a great start.  It allows you to think about such trends and events and also have a better idea of what you would do, ahead of time, rather than trying to figure it out in the middle of such an event.  Be PREPARED.

Ask Yourself: "What would happen ... IF?"

And don't forget to consider your solutions.