Couple questions:Kid, hi, thank you for reply!
"If customers aren't buying, new "$100k platform" won't do anything good."
- completely agree. And i know this. It's that then i ask myself if i am serious about the niche? If i want to be able to expand / add new tours, etc i need to upgrade the platform. Paid solution (like fareharbor, etc) are not custom enough. Basically i ask myself am i staying and moving ahead though now times are tough, or am i moving to another venture.
"-Partly pivot - use something you have and use it in new way (things like "instead of them going away to trip, you go to their house do presentation about some place and serve food from there")"
- i thought about it, and tried to brain storm ideas of businesses i can try to start in my area. I somewhat liked cleaning.
Pros:
-Recurring rev (we don't have in tour business)
-In nyc there is high density of buildings / population next to each (more effective logistics)
-Business depends on system a lot, business with most efficient systems / operations have advantage
Cons:
-Often price is what matters to customer most
-"Dirty" / not very pleasant business
-There are thousands of "start cleaning" threads / everyone can do it.
1) How quickly do you think the travel industry will come back after a vaccine is produced? Will it be a trickle, or will people be desperate to get out and explore once again? How can you market based on what you think will happen?
2) When will this recovery happen?
And a thought:
I do custom software of the type you're talking about. I've never had as much interest in my company's services as now. People are jumping at the chance to get ahead of the recovery. Its pretty incredible actually. Here's my take on why that is: Companies and people that have been successful and saved their money see this downturn as an opportunity to take over market share once the economy recovers. Especially in industries that have been hard hit. Few companies in the travel, restaurant, event (etc) industries will survive. Those that do will be able to pick up customers like crazy once things come back to normal.
The only question is, 'when will that happen?'
I watched an interview from 2006 with a guy that was alive during the 1918 Spanish Flu. He said that it was four years before people really felt comfortable going out, shaking hands, going to church, etc. They didn't have a vaccine for it back then, though. We should have a few of them in the next 6 months. Crossing our fingers that they work...