How to Pivot Your Business in a Crisis

by

Millions of businesses (especially small businesses) have experienced financial hits, setbacks, and hardships because of the Coronavirus. Whether your business temporarily closed during quarantine, you’ve lost customers due to financial hardships, or cannot fulfill your orders on time, being a business owner during these unprecedented times is not easy.

A businesswoman and a businessman in a meeting. Teamwork. Pointing and looking at a printed diagram on a table.

If your business is one of the millions that has taken a hit during this pandemic, then it might be time to reconsider how you run things. Below are some ways to pivot your business during a crisis.

Divert to digital

If your business isn’t already capitalizing on all things digital, this is a great opportunity to pivot your business to the online world. Have you considered offering online courses, virtual consultations, or creating a subscription service? There are countless ideas for virtual products you can create with little investment.

Of course, there are some service-based businesses you just can’t do online, unless you’ve learned how to do yard work through a computer. But this is the perfect time to get creative. How can you take your services and create a digital product your customers would be willing to buy?

Serve with your skills and strengths

It’s easy to disconnect with your true skills and strengths when you’ve been busy running your business during its peak. While you’re busy making a profit and ensuring your business runs smoothly, you often forget to use those strengths that got you to where you are.

Make the most out of the slow seasons and take this opportunity to reconnect with your passion, purpose, skills, and strengths. Once you feel good about what they are, think about how you can make the most out of those skills to serve your community during these difficult times.

Communicate with your customers

If you’re lucky to still have customers to count on, leveraging those relationships can help you pivot your business to be more effective as we deal with a crisis. This is a great time to listen to your customer’s needs. This pivot can positively impact both you and your clients as you both try to support each other during times of uncertainty.

If in-person interactions aren’t possible due to social distancing, don’t underestimate the power of a phone call or an online survey. This is a great opportunity to check in on those relationships.

Capitalize on creativity

As we go through the day-to-day responsibilities of running a business, we often lose touch of what it is that we truly enjoy. If you know you need to make changes in your business to survive, but you’re unsure of what to do, consider getting creative. When you reconnect with your creative side, you often find a way back to your passion and purpose.

Whether you like to draw, weld, or write, just do something. You’d be surprised how helpful it can be to simply do something you enjoy.