Passing the buck: Creative ways to pivot your business (3/3)

So, you might think that this article isn’t for you as your business has genuinely suffered. Maybe, but chances are maybe not! Every business needs to pivot due to competition, changing demands, revenue share and even as we are seeing — a pandemic. But now’s not the time to pass the buck and turn away from supply chains that are suffering the most.

It’s easy to look back and say you were unlucky! You could say the same to your employees and vendors. Remember, if you’re an entrepreneur, people are looking up to you even if you don’t realize it. So there’s ALWAYS a pivot.

I am not here to tell you how to pivot — I’m here to tell you that you CAN pivot. Talk to your competition, talk to your customers, talk to some mentors, read online but don’t lose heart.

If you own a manufacturing or fabrication shop and have shut down your production, talk to your nearest government official about how you can pivot to help the Covid-19 cause! Maybe you can switch to manufacturing some essential goods. If not relevant, take the time to improve your product, operational efficiency, implement some good practices and processes — all the things that you put away because you were concentrating on revenues!

If you’re a manufacturing design company, organize a public or internal competition among your designers to build the next-gen ventilator or PPE or masks or for that matter the next gen for your product line! Take this time out to improve your product.

If you’re a media or advertising agency, focus on digital marketing and other online media. Maybe improve your internal media process, ask your team to come up with ideas on articles and help customers promote their business online!

If you’re a small services business — say a hair salon or similar, see if you can send people to other houses with proper permission and protection. If you have a small gift shop or non-essential goods shop which is closed for the lockdown, try to build process which can improve your business when it reopens. Talk to your banks and other potential financers who can help your business!

If you were a travel agent, start contacting your customers and potential customers to enquire about their health. Maybe start looking into companies that provide essential services and see if you can support their travel needs! Plan your next move and try to bring about operational efficiency

If you’re a bakery, talk to NGOs and help their food distribution efforts.

If you’re a restaurant, keep your kitchen running for either food items or take away or online deliveries!

If you’re an event management firm, discuss with your customer how you can plan an online seminar, meetup, webinar and what the future plans are for events. Ask them how you could help out!

If you’re a software company, you can surely work from home but also ensure that your team gets a well-deserved break. Talk to your customers and understand their needs and think of ways to bounce back as soon as your team gets back!

If you’re a lawyer, freelance consultant or an individual consultant, do what you do best — market yourself! Write articles (I’m doing so myself), speak out your mind, rejuvenate and make the most of your time!

If nothing is applicable, rack your brains! Remember, not every entrepreneur survives — you’re here because you made it possible against the odds — think and I’m sure you can pivot! I have surely not have covered all different industries and I am sure there are plenty of ideas out there for different types of company’s!

Please comment on this article with your thoughts about how you have pivoted your business in these critical times! Maybe it will inspire someone else and maybe you could get some inspiration yourself!

Links to the first two blogs in this series:
Don’t pass the buck — Break the chain! (Part 1/3)

Don’t pass the buck — Support the Supply Chain, NOT just a relief fund! (Part 2/3)