Image by Apostolos Vamvouras

BUSINESS PIVOT DURING A PANDEMIC WITH CRITICAL THINKING

Change is the only constant in life; more so when faced with a global pandemic. While CxO’s continue to closely looking into their business to optimise efficiencies, there are some businesses  that need to completely pivot to survive in this new world. 

 

Maybe you are one of these CxO’s who is considering a new business idea or evaluating a potential business pivot to survive, stay competitive and remain profitable. All forms of Change are hard to accept especially when vast amounts time, efforts and monies have already been invested. However accepting Change & Implementing Change are two very different challenges altogether.

“THE FIRST STEP TOWARDS GETTING SOMEWHERE IS TO DECIDE THAT YOU ARE NOT GOING TO STAY WHERE YOU ARE”

Whether you're evaluating a business pivot or a new business idea, Critical Thinking can help you make informed decisions by evaluating several different sources of information objectively. Critical Thinking eliminates personal biases, emotional responses, ‘gut’ based reactions and other natural go-to methods to ensure your decision are well-informed and well planned. 

 

Pivoting any business causes massive impacts across the organisation and supporting networks. If the pivot idea isn't well thought out & planned or executed incorrectly it can lead to the business shutting down, loss of jobs, debt, unimaginable stress etc. 

 

So how should you evaluate your Business Pivot to ensure it is not only logical but viable (from your business perspective AND from your customers new need state)

Here are a few questions to evaluate the new business  pivot before you begin execution

Our Business

  • What are the strengths / weaknesses of this pivot?

  • What Is another perspective / another alternatives / counter-argument to this pivot

  • Where will this pivot idea take us?

  • When will we know we’ve succeeded?

 

Our Employees

  • Who gets harmed by this pivot?

  • Who will be the key people to hire to deliver to this pivot

  • Where are the areas of improvement?

 

Our Customers / Clients

  • Who all benefit by this pivot?

  • Who gets harmed by this pivot?

  • Where is the business problem our pivot would solve (that is relevant to our customers or clients)?

  • Why is there a need for this pivot today?

 

Our Category

  • Are there others that offer similar concepts 

  • Where is there most need for this pivot?

  • How does this pivot disrupt the category?

 

Our Partners 

  • Where can we go for help 

  • When should we ask for help

 

Additional Help & Inputs

  • When would this pivot cause a problem 

  • What would be considered acceptable & unacceptable in this pivot?

  • What is the best & worst case scenarios with this pivot?

  • How can we implement this pivot safely (what are the things that would get in out way of action)?

  • Who is the best person we can consult with on this pivot

The “New Normal” for businesses demands: creating, delivering and sustaining long term value across all eco systems. Business leaders need to Think Strategically, Plan Extensively, Execute Quickly to survive & stay profitable in this new business world. 

Trigger Worldwide is a Growth Marketing Agency, built specifically for SME’s and Startups to create Sustainable Business Growth. Our proprietary tools and process methodologies harness Technology, Creativity & Innovation, leverage Economic Drivers and Consumer Beliefs to help SME’s achieve their Growth Agenda’s.

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