Reply To: How much time and money do I spend on implementing new business ideas to make money when my once busy catering business needs large events in order to survive?I predict this will take some time to restore as most larger events are planned in advance etc.  some things I’m considering is opening the front of my premise to sell food but I’d potentially need to buy a coffee machine and/or get an alcohol licence for evening meals.   We’re currently experiencing difficulty with smaller delivered jobs not even covering costs.  How do I plan for a future that is so uncertain?  I’m nervous to invest money in a sinking ship,  how does one know when to walk away?thanks 

Hi. My immediate advice would be to spend as little money but as much time as possible to work your way through to the right answer. Things are changing by the day and today’s announcement about when Level 2 will come into effect is significant.
I’m sure you’re right about large scale events still being some time off but you know that when that time comes, you have a successful business model.
While work has reduced, time hasn’t. Keep working away at how to keep things ticking along. Focus on those parts of your offering that seem to be most in demand or easiest to do in the circumstances and see if you can create a new offering based on those insights.

We have been very lucky that the country has dealt so comprehensively with the Covid crisis and the pay-off will be a return, hopefully before too long, to a nearer to normal state.

As Winston Churchill, a man who weathered his fair share of crises, said ‘When you’re going through her, keep going!’