Have you been thinking about how you can pivot your business? You aren’t the only one. Our current situation has forced many to give this topic some serious thought while it’s made others realize that the way in which they make money is just not viable long term. So, where do you start? In this 3 part series we’ll explore where you can look for pivots such as: value proposition, value networks, target customers and pivot inspiration.
This is the first of three posts on this topic. Today we’ll explore some key considerations when looking at your value proposition.
- Fulfill unmet needs. Shift to supply what people need today (health, nutrition, safety, and in-home education) and think about how your service/product can fulfill one of these needs.
- Create new value with existing assets. Zero in on specific assets in your arsenal that people need right now. (Ex. many clothing designers are now manufacturing masks for donation and sale).
- Rethink product/service naming conventions and copy. Ex. deliver home school education products rather than provide education services.
Stay tuned for part 2 where we dive into value networks and target customers!