New Business Models?
Change has been foisted upon us thanks to a worldwide pandemic. We are all acutely aware that we are living through a pandemic, one for the history books. Human beings, as a species, are quite adaptable, and the reality of what we are living through will not truly hit us until we get to the other side.
Many cities have relaxed their laws against selling liquor in a restaurant or a shop allowing small grocers and eclectic stores to shake up their assortment. It will be impossible to enforce the old rules after we return to some sense of normalcy. What will that mean for new business models?
It isn’t that expensive to build an online business, and create new customers for lots of cash. Many of these businesses have grown without needing venture and we will see many more of these.
The Association of Art Museum Directors has loosened their guidelines allowing museums to sell pieces of art to pay for their operating expenses. That is a big change and perhaps one that will remain in the future. The future of charitable giving is unclear and perhaps not all museum’s assets make sense to remain in the deep dark basements for decades when their worth can be put to use.
Retail is certainly going to change. What does the future of buying look like for a large chain such as Macy’s? Will they return to the days of having buyers be creative and at the same time be responsible for their own profit and loss?
Restauranteurs have developed their own lines of products selling directly to the consumer. Are they the next generation of CPG brands? Sauces, noodles, chocolates, and more. It allows for additional capital coming in the door while attempting to keep the doors open. I don’t see this going away.
The shift to careers that just make one happy started over a decade ago with watchmakers, chocolate makers, farmers, and new frontiers that brought communities new younger faces running local spots. Everything is changing. New business models are cropping up that will bring us forward into a post-pandemic world that more than likely will be better than ever.