12 thriving industries that can create new opportunities for your business

It’s been 4 weeks since the lockdown radically changed the way we do business . For some businesses it has led to doors closing, for some a leap in new directions in how they do business. In the midst of all this, some have sky rocketed with opportunities like they have never seen before.

As we look around the market, we saw industries just thriving, bought on by all the sudden changes in our work-life balance. So, we decided to pull together a list of the industries we have been learning about to share our recent insights with you.

We have split the industries into categories to make it easier to capture the collective changes that affect each category. Each category will cover:

• Why they are thriving
• How to maintain this sudden growth

And if you are not in that industry, look at:

• How to offer a service to support their rapid growth

1. Home office online

1. IT/Managed Services
2. Telco
3. Cyber Security
4. Home Furniture & Fit outs

The work from home (WFH) market was sudden and for many businesses, one they were not prepared for. Pulling together all the resources became a necessity to create a space that would allow for the effectiveness of an office in the comfort of your own home.

We saw many of these businesses within our network suddenly get hit with an influx of new clients, ensuring you can connect to the essential business network, have the connection speed you require, get your digital presence secured and retro fit your home to make a comfortable office space.

The challenge will be in maintaining this new business, as the market rushes to fill a current need, with good database management, this could be an opportunity to highlight other services of your business that can support a more mobile workforce and the over-all cost benefits to a business by doing so.

If you are not in this industry, you may have a service which could support these businesses in handling the new customer load or you could to connect each other’s contacts for the benefit of partner offers, this is where opportunity may lie for you.

To read more about the impact of cyber attacks see https://www.cyber.gov.au/threats. Have you secured your website? Find out how to we can help keep your website safe.

2. Creating comfort in the home

1. Handyman
2. Landscapers
3. DIY (Arts & Crafts and Home Hardware)
4. Home Games and Entertainment

Being stuck in the home will have you doing a couple things for sure ­− it will have you staring at all those projects you haven’t finished yet or finding ways to keep your self-entertained. If you are in the home maintenance or home entertainment industries and you haven’t yet started reaching out to the market, now is the time.

We know of businesses in these industries which have organically seen grown over the past 4 weeks. In order to maintain your current growth, it is a good time to highlight all the opportunities in the home that people could be looking at. This will help you to continue to build rapport with customers and add value to them during home isolation.

If you are not in this industry, but in a support industry such as interior design, partnering with a provider to create content can be great for your reputation and their bottom line. It will highlight you both as trusted advisers and assist customers through the buying process.

3. Advisers for Life

1. Business Consultants
2. Financial Advisers
3. Accountants
4. Lawyers

While everything is going on outside, people are taking the time to re-look at where they stand from a business and personal perspective. Some may have lost their jobs and need support in reaching out for assistance, some are feeling the strain of their investment, some are finding the challenge of negotiating with services and suppliers, and others are looking to where they can invest now.

If you have not yet tapped into the opportunities for your business, sharing a message of assistance and guidance is what the market is crying out for. Regulation changes and new support incentives are confusing. Guidance from trusted advisers is vital for many trying to navigate an unprecedented economic change.

If you are not in this industry, but have a network that could benefit from services such as these, reaching out and creating a referral partnership could be a great way of supporting your own customers and finding new opportunities in the partners network.

4. The show must go on

1. Construction
2. Delivery Services

Some businesses may have seen little to know affect from the lockdown, that is why they fall under ‘The show must go on’ category. Restriction have not really hindered the building industry and personal delivery services are a necessity now more than ever.

If you are not in this industry, but have a supporting business such as signage, fit-outs, furniture, industry supplies etc. reach out to the construction industry and see how you may be able to offer services.

A great way to stay on top of information affecting the construction industry click here https://www.mbansw.asn.au/covid19

The personal delivery space is also leveraging many apps such as Uber and Deliveroo, if you are struggling to make ends meet, this may be a temporary solution. Otherwise, if you have the resources to facilitate delivers, perhaps reach out to local businesses and see if you can offer a service to support them in distributing their product.

One thing we know for sure is that whether you are growing, or your business is on hold, actions you take now will pay off in the long run. Form solid partnerships, prepare your business for when the lock-down lifts, rethink your digital presence and search for new opportunities to connect – all will add a long-term benefit.