When the whole COVID-19 pandemic happened a lot of businesses were hit. Most industries were negatively affected by the crisis caused by the virus. Some industries just happened to be in a good position to not only survive but thrive. They were just lucky enough to be in that position. Nobody could have predicted a global pandemic would happen, and nobody could have prepared for it.
But even if your business isn’t as fortunate, there are ways to pivot and find new ways to deliver value for your clients and make a profit. In fact, all businesses should be ready to pivot no matter the circumstances. Your business should have potential scenarios ready to implement if a crisis hits, no matter the source of it.
There are a couple of ways to get ready for a hypothetical crisis and design scenarios that are ready to implement. The crisis can hit from various angles and you need to be prepared for each one of them.
Sometimes adjusting to the new norm is just a matter of some tweaks to your current processes. For example, if you rely on manufacturing, deliveries and distribution you need to make sure that you have alternative sources of those services.
But when small tweaks are not enough and your business is in real trouble you need to pivot. Sometimes it will mean you need to completely revamp your business model and throw your old business strategy away (or at least set it aside for a moment).
A couple of strategies and things to consider when planning to tackle this:
No crisis is fun; but experiencing a crisis does not mean it’s game over. Be creative, brainstorm and fight. Focus on the question “How can I still provide value?” to come up with the best solutions for your business and for your customers.
Mike Koziol, Head of Delivery at Brand Central Marketing, is a former corporate shark working with Ernst & Young, Deloitte, Johnson & Johnson, Novartis, to name just a few. He has a geeky side of his personality and loves to drive strategy and oversee delivery for our clients. Mike will build your strategy and will work with the team to have it delivered. He can occasionally geek out on Facebook ads (when Charlotte allows him to), be a smartass with processes (when Shanda is not looking), and click some buttons on the backend to build you a funnel. Mike loves the strategy side of the business, and he helps companies get clear on what it is that will move the needle.