business

Five Unique Ways That Small Businesses Have Pivoted in The Bahamas

The Covid-19 pandemic has taken an economic toll around the globe, and The Bahamas is no exception. In these difficult times, it's inspiring to see how businesses acted quickly and innovatively to diversify their business models to help the country in new ways.

1. Virtual Tours

Although virtual tours have been used in real estate as a form of convenience for years as a way for prospective clients to get an idea of a property and its features, the safety measures that have been put in place as a result of the Covid pandemic to avoid social gathering have made virtual tours a necessity for the real estate industry. 


The versatility of virtual tours is what sets it apart from in-person tours. With virtual tours, prospective clients no longer have to physically be in contact with agents when choosing their homes; they can view these properties from the comfort of their own homes and conduct their own process of elimination that way, saving both parties valuable time.

Whether it's a large commercial office space, or a contemporary condo development, Bahamas Realty agents can offer their clients virtual viewings, personally “walking” their clients through a property. And for many of our listings, we offer 3D virtual tours using state-of-the-art Matterport technology. [View some of our tours here]

 

2. Masks

Mask wearing in public has become a part of our daily life - at least for the foreseeable future. Medical-grade masks are reserved for health professionals, so many local businesses and even individual entrepreneurs are getting creative, producing masks & face shields creating a new product in an in-demand market.

A few businesses that have found new industry in mask production:

  • Bahamas Hand Prints is known for its beautifully handprinted fabrics and uniquely Bahamian-inspired designs and like other small businesses, they have taken advantage of the need for masks. Bahamas Hand Prints has combined its passion for creating wonderful designs and taken it up a notch by creating fashionable masks with signature fabrics, making them recognizable and setting them apart from regular disposable masks. The masks are “available in assorted prints and colors” and are also machine washable.
    Woman wearing face mask
     
  • Signarama Bahamas, known primarily for their signage (like Bahamas Realty's custom property signs), window clings, and vehicle wraps, have added custom face shields to their product offering which can even be personalized or branded with company logos.

 

 

3. Hand Sanitizer

John Watling’s Distillery located in Nassau, Bahamas decided to shift its business to accommodate the Bahamian people during the COVID-19 pandemic. Acknowledging that the business has an inventory of Ethyl alcohol, co-founder, Jose Portuondo told Eyewitness News that the distillery decided to shift its “business to meet the needs of [the] community and those on the front line.” The distillery still produces its famous rums and vodkas, but hand sanitizers are an additional priority. The distillery has also donated many bottles of the sanitizer to local food distribution centers such as Hands for Hunger and The Bahamas Feeding Network to help ensure the health of all Bahamians.

4. Remote Fitness

Some fitness facilities have understood that in-person group classes are not conducive to limiting social gathering, so as a way to stay in business and still motivate people to stay on track with their exercise routines, fitness facilities are hosting virtual fitness classes via Zoom. Both parties benefit from this.

An example of the shift in fitness is Bowflex Barbie Fitness, a fitness company specializing in personal and group training. Before the COVID-19 pandemic, this company hosted in-person one on one and group classes but after seeing the demand for at-home fitness programs, Bowflex Barbie Fitness now provides virtual group fitness classes.

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by Team Bowflex Barbie Fitness (@team.bowflexbarbiefitness) on

 

5. Online Ordering & Delivery Services

Online ordering app

Delivery service is not a new concept to many, but The Bahamas has been slow to embrace the convenience service; however, during the COVID-19 pandemic, more businesses have decided to offer delivery and curbside pickup options to properly abide by the guidelines set in place by the government of The Bahamas. Businesses like Bahamas Office and School Supplies (BOSS) which offer business, school, and art supplies (essential for virtual learning!), and Ports International, which sells medical supplies and equipment, have built new websites with online inventory and convenient ordering. Other food and grocery businesses like Discount Distributors, Kraven and Bahama Eats have developed mobile apps in recognition of the need for online ordering and delivery services.

The owner of Discount Distributers, Ryan Turnquest, told Eyewitness news that before the pandemic their app “averaged maybe 10 orders a day, now [they] are averaging 100.” People are satisfied with utilizing services that do not require them to leave their homes.

 

This is The Month Your New Year's Resolutions Fail (And How to Save Them)

Did your New Year’s resolution go out the window already? You’re not alone. By about the beginning of February, approximately 80% of people fail at their New Year’s resolutions.

Amazingly, while most people begin the year with a resolution, the majority expect to fail before they even start. That’s not a very positive way to start the year, but we’ve got a better plan.

Whether you are determined to learn something new, improve your health, or increase your business success, the key is NOT to set a resolution but to set a SMART goal.

 

According to research shared by Forbes, there are two reasons we typically fail at our resolutions:

  1. We weren’t very committed anyway (see: expect to fail)

  2. “Because we felt some pressure to create this goal, we likely haven’t fully thought through all the people that will benefit from our achievement.”

At Bahamas Realty, our team is changing how we look at goal setting, and instead of setting unrealistic, and empty-ended resolutions, we’re setting SMART goals.

To make sure your goals are attainable, they should be based on a reachable target, and motivation based.
 

What Does SMART Mean?

SMART is a formula that you use to guide your goal setting. SMART is an acronym that stands for the following terms:

Specific (simple, sensible, significant).

Measurable (meaningful, motivating).

Achievable (agreed, attainable).

Relevant (reasonable, realistic and resourced, results-based).

Time bound (time-based, time-limited, time/cost limited, timely, time-sensitive).


Why does it work?

Using SMART goals “sets boundaries and defines the steps you’ll need to take, resources necessary to get there and milestones that indicate progress along the way.” (Indeed.com) With SMART goals, you aren’t just setting a vague, unattainable goal, you’re creating the roadmap to get there.

 

Example 1:

Resolution: Lose weight!

If you, like many people, set a resolution to get healthier this year, BIN IT. Instead, be specific: Plan to join an outdoor exercise class and give yourself a deadline - that is an attainable plan, with a sense of direction that you can accomplish.

 

Example 2:

Resolution: Save money!

Think about your WHY. Perhaps you want to save money so that you can buy a new home. Using the SMART formula, you can make it achievable:
"I will save a specific amount of money each week to buy a home with a downpayment of 10% by 2022."
(Tip: Don't forget R - be Realistic about your circumstance, and adjust if necessary).

SMART goals can be applied to all aspects of your life, from your business to your personal life.

 

To better understand each step, check out this excellent breakdown (with examples!) from Indeed

And then say good riddance to guilt-ridden New Year’s resolutions.

 

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