Small Business OWNER This Is Your Unique Advantage

business strategy Apr 08, 2020

Small Business OWNER This Is Your Unique Advantage

As social distancing has started affecting every industry, have you been thinking deeply about your business? How do you respond to the new reality? Now is the time to pivot—not out of desperation or to stay afloat, but to discover growth strategies you might not have considered before. Some of the most innovative companies evolved from entirely different beginnings. I mentioned this in a previous post, I am sure you have seen companies out there who have regrouped from producing their normal product to producing medical equipment to support our NHS a PIVOT. How can you learn from this? What could you do to reinvent your business in some way to formulate a new product, or serve a new market? How can you look at your audience and current offering to uncover new strategies?

As an entrepreneur or small business owner, you are hardwired to look for new opportunities AND you have a unique advantage, you are AGILE. You can move quickly as you do not have huge management teams to convince or manoeuvre: you’re nimble. All you need if you are ready to pivot, is to do something. Think about all those new business ideas floating around in your head, with never enough time to explore them, now is the time. Could you start a new course? Create a membership site? Maybe a new digital product, a pipeline with a  landing page or sales page. What’s the next step for your business right now?

THREE things you can do right now 

Create a new product or service.

If you have been focusing on your core business trying to figure out what to do, flip things up and use this time to set up a new offering. Is there something that you do as a side hustle, hobby or idea that you could bring to life now as a new service?

Find a new audience. 

Do you feel like you are swimming in the same pond as everyone else, is your voice becoming diluted with the same messages? Find a way to communicate to a new audience, step outside of your usual platforms and communicate on a different one. Always on Instagram, take a fresh look at LinkedIn?

Revamp your communication

If you have a captive audience, do they still have the same problems that you solve? Are you able to describe the problem you solve using the new language of your consumer? Discover a new audience, take your existing face to face customer into the online space with webinars, email marketing or a membership site. If you don't have a website, create a Facebook fan page or insider group, the perfect way to see what challenges your clients are facing now, and solve their problems for them.

Hope you found something that resonates, or that you can use in your business today. If you need help or want to chat through your ideas, get in touch I’d love to hear from you.



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