The post-crisis climate figures to be a buyer’s market. This will create new
opportunities to be aggressive in ways that can help sustain your business for
the long-term. For example, many supplies could be in dire straits, making them
open to renegotiating their contract. You could offer to extend your contract by
a year or two in exchange for a substantial discount. Most suppliers will
consider such an offer, especially if you’re able to put cash upfront.
You can also take advantage of the high unemployment created by the crisis.
Currently, there are a lot of talented workers who are on the market looking for
a new position. They might even be willing to accept a lower salary than they
would have before the crisis. It’d be foolish not to go after some of this
talent if you think it can benefit your startup.
At the same time, there will be new clients available for you to pick up because
some of your competitors are struggling. Other competitors may have already gone
bankrupt because they weren’t able to adapt during the crisis. Even if there is
only a rumor that one of your competitors is struggling, now is the time to
strike. You can try to poach their clients by showing them that you’re ready for
the changes that will come after the crisis and can provide stability over the
Finally, advertising is one area where you can get a leg up on your competitors
in the post-crisis climate. Most companies have made the smart move to cut back
on marketing as a way to cut expenses during the crisis. But once you’ve found
stability, marketing with a new message can be a great way to take advantage of
advertising costs being down because of the crisis. Not only will it be cheaper
to advertise, but there are fewer advertisers right now, making it easier for
your new message to be heard.