Change can be challenging for any business.  And as any business owner knows, the past few months have been challenging for almost all businesses as consumers – whether by choice or mandate –  dramatically change their behaviors. 

Many businesses are trying to redefine themselves in our new reality.  Brick and mortar retail stores already under pressure from the pre-pandemic shift to online (which has only been exacerbated in recent months), movie theaters, restaurants, hair salons, and many more similar businesses that rely on in person consumer interactions have been negatively impacted. 

Alternatively, other businesses that support the new “stay at home” society are benefitting from our recent global shift in consumer behavior.  Examples of these are in-home streaming media, at home fitness, food delivery, shipping services and shipping materials, construction (to build outdoor dining spaces and compliant plastic barriers).  

Whether you’re benefiting from or negatively impacted by these changes, chances are that you’ll need to pivot in some way to react to our new reality.  

There are a few techniques you can follow that will make this process much easier, and improve the chances that your business will come out on the other side stronger than it was before. 

The first thing I recommend doing is to (re)evaluate your business.  At its core, what made your pre-pandemic business successful.  Beyond your products and services, what made your business successful?  Was it your ability to distribute products?  Your industry specific expertise?   What is your “superpower”?

How think about your clients’ needs in light of today’s reality.  How have they changed recently?  What are their pain points, and where do your skills and services best align to service those pain points?

Your solution for future success lies in the intersection between those two areas.  Let me give you a real-life example:

A friend and colleague had built up a success multimillion dollar business providing notable Fortune 100 travel and entertainment companies with children’s toys.  When those businesses temporarily closed their doors, his business dried up.   Reflecting upon his company’s “superpower”, he recognized that the steps he took to import certified child safe toys were very similar to the steps needed to bring in Personal Protective Equipment (PPE).  

Leveraging the reputation he’d built for delivering quality goods on time, and his experience dealing with strict product regulations, he successfully pivoted his business from delivering children’s toys to PPE products.   This is a perfect example of recognizing your core strengths and the changing needs of your clients, and refocusing your efforts to serve an immediate need.  

How are you adapting to these changes?  I want to hear your success stories … and your challenges!