How to pivot your start-up in uncertain times
10 pro tips on how to adapt and change course without derailing your business.
During these challenging times, many start-ups are in a vulnerable state — leading many founders to question the validity of their business models in the new world.But, when everything’s in shift, how can founders be sure of the best moves to make? Here we go-
- Don’t panic
It’s easy to fall off track during this chaotic time, but keeping level headed is the best approach. Leaders emphasises that remaining calm and staying focused will set your business on the right track
- It’s the same mission, but a different approach
Sometimes, pivoting isn’t necessarily about changing your business’s focus; a slight change of course might be all that is needed.
- Ask away
When a crisis hits, it’s time to talk to your customers, stakeholders and the wider ecosystem. What you find out will be invaluable.
- Plan different scenarios
Mapping out strategies and having an inquisitive eye can help clarify the best direction to take.Keep your investors in the loop with these alternate plans too.
- Be crystal clear with your team
While these rocky times create friction for start-ups, transparency with the team will make that pivot leap a lot easier, and more successful.
- Alongside clarity, keep up the team spirit
- Pay extra attention to your existing customers too
Stick by your current clientele so that they’re still here post-Covid.The start-up has kept up with this by allocating more of the team to customer support.
- Preserve, adapt, reconquer
- Be careful with your pitch decks
“Every company has to demonstrate that they’re adapting to Covid-19, otherwise they’re living in a dream land.”
- Ace your pivot narrative
See How Your Business Benefits!
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