Covid Changing the Industry at DVinfo.net

Silas Barker · March 22nd, 2021, 05:06 PM

Hello everyone,

Covid has affected our industry and especially the business side, and was wondering if any have any tips for keeping your business going strong, or ideas?

Thanks again!

Paul R Johnson · March 23rd, 2021, 01:53 AM

My core business imploded last March, I now have my first premises in 25 years of self employment, and my accounts just completed and submitted were not brilliant but lovable. Oddly the new version means my turnover is much higher, but actual profit lower, and revolves around selling equipment that others use. My old business was services, and that client base has shut down. People are still making their stuff but it’s all gone in house, so I service some of their needs. Entertainment, where the old business is centred, might come back in the summer, but then I’ll have a dilemma. Keep the new business and the old business running to maximise profit, but work much harder, or let the new business go into hibernation, and hope covid remains quiet? I don’t know.

Silas Barker · March 23rd, 2021, 09:44 AM

Interesting.....my whole business model is built around serving the same clients year after year, and as businesses and corporations close or hold back, its a waiting game. We did start really pushing product videos, and have gotten business from all over the world, but as with anything, its a slow process building up.

March 22nd, 2021, 05:06 PM	#1
Silas Barker Major Player Join Date: Dec 2009 Location: Sacramento, California Posts: 577	Covid Changing the Industry Hello everyone, Covid has affected our industry and especially the business side, and was wondering if any have any tips for keeping your business going strong, or ideas? Thanks again!

March 23rd, 2021, 01:53 AM	#2
Paul R Johnson Inner Circle Join Date: Nov 2005 Location: Lowestoft - UK Posts: 4,045	Re: Covid Changing the Industry My core business imploded last March, I now have my first premises in 25 years of self employment, and my accounts just completed and submitted were not brilliant but lovable. Oddly the new version means my turnover is much higher, but actual profit lower, and revolves around selling equipment that others use. My old business was services, and that client base has shut down. People are still making their stuff but it’s all gone in house, so I service some of their needs. Entertainment, where the old business is centred, might come back in the summer, but then I’ll have a dilemma. Keep the new business and the old business running to maximise profit, but work much harder, or let the new business go into hibernation, and hope covid remains quiet? I don’t know.

March 23rd, 2021, 09:44 AM	#3
Silas Barker Major Player Join Date: Dec 2009 Location: Sacramento, California Posts: 577	Re: Covid Changing the Industry Interesting.....my whole business model is built around serving the same clients year after year, and as businesses and corporations close or hold back, its a waiting game. We did start really pushing product videos, and have gotten business from all over the world, but as with anything, its a slow process building up.