Looking Over the Parapet

It is only natural in times of adversity to be defensive. Business owners have to consider stakeholders, staff or simply themselves and be accountable for the decisions they make.

But if you want your business to “survive and thrive” you must, at some point, look over the parapet and explore different avenues and opportunities. In the current economic climate many have successfully done so and are reaping the benefit. You don’t want to be left behind adding more challenges to what is already a precarious situation.

Many businesses talk of “pivoting” but what does this really mean? How did they go about it?

Have you asked your clients about the challenges they now face and explored how you could help them? Have you spoken with your stakeholders, staff or business advisor to elicit ideas and suggestions?

How much attention do you pay to your competitors?

What are they doing and what gaps are there to exploit?

What skills, knowledge and experience do you and your team have that can be used advantageously in new directions?

Considering a multi-faceted approach will open up new, previously unconsidered business opportunities.

Having an external presence facilitate will ensure maximum benefit, challenging you to be open minded and fully engage in the process.