DAWN JAN-FEB EDITION

Page 22

Business

Small Business Owners, in the Age of Covid, You Need to Reimagine Your Business Model. Insights for 2021. By Bernhard Schroeder

THERE IS A LOT being written right now on what small businesses need to do to survive the pandemic. Tips on marketing, social media and digital e-commerce and so on. While that is fine, you might need to completely reimagine your business from both a strategy and business model point of view. It might require a complete mindset shift on what products or services you provided before Covid to what customers need now. Let me give you some examples on how other firms are completely readjusting or pivoting their products, services and ultimately, their business model. Texas Roadhouse. This chain of dine in restaurants had to rethink their business model when Covid hit and they did just that. Their thinking went from: “You visit our restaurant to dine on our grilled steaks” to selling take home steak grilling kits where the customers grills their own steak or perhaps stops by to pick up their meals. Because, what do customers want? A good steak. So, they pivoted to giving the customers what they wanted. Sales have recovered nicely. Walks. This tour-based company was hit hard by the travel restrictions. Where they would book local in person tours all over the world before Covid, now they had to reimagine their business model to offer the same service but in a safe innovative way. Today, they offer tours to world popular destinations where you book a tour from the safety of your home and then “walk” with the tour guide who is live and walking in Paris or Rome, giving you the cultural history and visual dynamics of a real tour. Brookfield Properties. Okay, so you own a lot of 22

January-February 2021

malls across the United States. Mall traffic is down because of the coronavirus, but Brookfield is at least m a k i n g money from the empty parking lots. The company signed a deal with entertainment company Kilburn Live to use the lots as drive-in theaters in at least five cities, providing much-needed public entertainment options in a safe manner while traditional movie theaters remain shuttered. It may be a parking lot today but perhaps a film venue tomorrow. Mr. Holmes Bakehouse. At the start of the coronavirus lockdown in California, Mr. Holmes Bakehouse founder Aaron Caddel was trying to figure out how to stay in business and keep his staff employed. Within the space of 72 hours, his bakeries had lost all their wholesale customers – around $3 million in business. However, he also noticed that the interest in home baking was sky-rocketing, which was causing shortages in ingredients such as yeast and flour. In response, he decided to pivot his entire business to start supplying home baking kits. Although he had no experience in e-commerce, he did have a large warehouse, a large Instagram following and a DAWN

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Republic of Mozambique

21min
pages 87-99

How Did We Come by the Name ‘Africa’? – Is it a Foreign Import?

7min
pages 84-86

Leadership Appointments within Africa The Associated Press Names Naomi Osaka Female Athlete of the Year

2min
pages 82-83

About a Tanzanian Family in America Universal Music Group Announces Strategic

5min
pages 80-81

A 23-Year Old Created an Animated Series

1min
page 79

Stories How One Muslim Woman is Normalizing the

6min
pages 76-77

Hijab Through Comics Adopted African American Woman fi nds out She’s a Princess from Sierra Leone

1min
page 78

An Audiobooks App will tell Unheard African

3min
pages 74-75

Less” and “Airtime-FreeE” Phone Calendly, the Black Owned Scheduling App, Just Raised $350M, and is Now Valued at Over $3Billion

1min
page 73

A Teenager from Namibia Invents a “SIM

1min
page 72

17-Year-Old Wins $400K for Explaining Quantum Tunneling in Science Competition

2min
page 71

Nigeria’s Fintech Scene Booms

6min
pages 68-70

NASA Picks Astronauts for New Moon

3min
pages 66-67

Senegalese R&B Singer Akon Signs JV in Congo to Build Copper-Cobalt Mine

1min
page 65

Computing Startup for $500M Master P & Baron Davis Could Make History as they Position themselves to Acquire Reebok

1min
page 64

F5 Networks will Buy Volterra Cloud

3min
pages 62-63

Meet the Nigerian Entrepreneur who Just

3min
pages 58-59

Ebony Magazine Purchased by Former NBA Player for $14 Million

2min
pages 60-61

London Investment Bank Picks Kenyan for Top African Job

2min
page 57

Sub-Saharan Africa Named Riskiest Investment Region due to Violence

1min
page 56

African Stock Exchange/Bourse

2min
pages 54-55

Dozens of Tech Companies Sign ‘Tech for

3min
pages 48-49

Here's the Whole Poem 22-Year-Old Amanda Gorman Read at Biden's Inauguration

5min
pages 52-53

Good Call’ Following French Initiative Africa is Set to Roll Out its Single Passport

3min
pages 50-51

Factbook $100 Million Prize for Carbon Capture

2min
page 46

WHO in Talks with Pfi zer, Moderna on Covid-19 Vaccine Access

2min
page 47

Three 2021 Statistical Thresholds of Interest

6min
pages 43-45

Good News for Africa’s Great Green Wall

2min
page 42

Airlink, Newly Independent, now Africa’s

1min
pages 34-35

Netfl ix Makes Africa Push with Zimbabwean Billionaire's Appointment to Board

1min
page 41

7 New Year Strategies to Help Black Entrepreneurs Achieve Growth and Success in 2021

4min
pages 32-33

Second-Largest Airline United Airlines’ Big Long-haul Expansion with

2min
pages 36-37

Mark the Dawn of a New Era Here is the One Thing Most Founders Forget

3min
pages 30-31

Africa’s New Free Trade Agreement Could

4min
pages 28-29

Small Business Owners, in the Age of Covid

4min
pages 22-23

African Countries are Curbing Imports of Used Cars from Japan to Cut Emissions

3min
pages 20-21

Top Seven Reasons why South Africa is the

4min
pages 18-19

Why 2021 Could Be the Best Year For You to

2min
page 16

Sony Music Africa Hires Artist Dev Lead

1min
page 17

Embrace these 4 Lessons from Dr. Martin

5min
pages 8-10

African Fashion is on the Rise

3min
pages 11-12

Want to be a Global Entrepreneur? Here’s How

5min
pages 14-15

Publisher's Message

5min
pages 4-7

Jumia Looks Beyond Profi t Target

2min
page 13
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