A business pivot doesn’t have to be intimidating, and in fact, might just help you succeed during this unprecedented time. Small businesses are starting to slowly ramp back up around the globe, and while there is still a lot of uncertainty swirling around, one thing is for sure—the business landscape is going to look different and it’s time for your business to pivot. Regulations in place mean that our daily lives will look different as we enter this post COVID-19 phase of life, and it is time to adapt.
“The secret of change is to focus all of your energy, not on fighting the old, but on building the new.” -Socrates
What a Pivot Means for Your Business
A business pivot will look different for everyone. COVID-19 showed us how quickly things can and do change. Within weeks manufacturing stopped, supply chains crumbled, and inventory was stuck. If you found yourself and your business in an uncomfortable position, going forward you will need to make a change.
Update the Supply Chain
If manufacturing came to a screeching halt for your product, it’s time to see what you can do to make sure that doesn’t happen again. Should you be looking at adding another manufacturing partner either at home or abroad? Does on-demand manufacturing make sense for your business? Take time to rigorously evaluate your current supply chain and decide where your weak points are—then fix them.
A “fix” won’t necessarily be quick, but it will help prepare you to better weather another storm.
Design Innovative New Product Features
Post COVID-19 life will be different for everyone. Do you have a product that can help people navigate their new reality? You might have a product that could help people transition to this new way of living easier if it added a feature or made a slight adjustment. If so, it is time to look into getting that done. Your product can adapt to the times and you could just find yourself on a new path to success.
Add Additional Services
Could your business practices shift to add a new and helpful service for your customers? Now is the time to test it out and make the implementation. Consumers are expecting businesses to make changes and are more open to the idea of “change”, so now is the perfect time to make a bold move.
The business landscape has always been about navigating change and right now we are all navigating this new normal together. Remember, if your business isn’t willing to change, you might just find that it’s a relic of the past.
We are here to help you navigate the new business landscape. If you have product development or manufacturing questions, send us an email at email@example.com
3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.