Business Strategies for Difficult Times: Utilizing the Gift of Slow Times

2.  Prepare to do it Differently

Your business came into existence when you, or your predecessors, saw a need that you thought you could fill.  That could have been generations ago, or it may have been last month.  Regardless, the world has changed dramatically since then, and the fundamental premise upon which your business is based may be shifting.

What if you could use this gift of downtime to re-imagine your business? There is the possibility, at least with a few of you, that you could emerge from the pandemic malaise with a transformed business.

1.  Ask this question, and brainstorm some solutions: 

2.  Then, I’d prioritize the answers to the brainstorming session by asking these questions:

• “Which of these can we address the quickest?”
• “With which of these can we make the greatest impact?”
• “Which of these are we most passionate about?”

3.  And if your work uncovered a likely suspect, then I’d ask and answer these questions:

• “If we wipe the slate clean and started fresh, what solutions could we provide?”
• “Exactly what would that look like?”
• “How could we deliver it?”
• “How much would we charge? “
• “How would we promote and sell it?”
• “What would we need to pull this off?”
• “What would we need to do to pull this off?”
• “Who needs to do what, by when?”

And at the end of this hard work of brainstorming, prioritizing, and planning, I’d have a plan to transform the business, and maybe the industry.

Slow times are a gift.  Use the gift well and implement some new business strategies.  You may not have another opportunity like this for a long time.