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PIVOTING YOUR BUSINESS

Sometimes Survival Means Changing Course.

Pivoting your business

Sound Familiar?

Our industry has been in decline for several years.


We're losing ground to our competitors.


Changes in society and/or technology have been hurting our business.

Assess

The first, and sometimes hardest question is WHY is a company in need of a pivot? Where have those customer dollars gone? What has changed in the world around us?

Adapt

How can we adapt to new trends that are affecting us? What new products or services do we need? Will our brand need to adapt to win or win back customers?

Execute

Launch the new products and/or brand energetically and aggressively. Let the world know that you are back with a vengeance.

Death by
a Thousand Cuts

In a rapidly changing world, even the most stable companies (and industries) are subject to some market volatility. The evolution of society and the increasing adoption of technology in all aspects of life can bring down even the largest companies. Many businesses find themselves faced with a choice: die the death of a thousand cuts or pivot. If you want to prevent your business from a slow decline, it may be necessary to make a big change. The following are typically needed to maintain or accelerate a company’s growth:

Pivot your business - pivoting

Deep Market Analysis / Competitive Analysis

In a world where most economies are in a continual state of growth, the dollars lost went somewhere. Can you enter that market?

Pivoting your business

Penetration of New Markets

Entering new markets typically requires new products or services, if not also a message that establishes credibility and presence as a new bran

Pivoting your business

Brand Refresh

Most markets suffer from the “shiny object factor,” in which customers follow the newest thing. Sometimes that new thing is a simple update. Other times, it may be necessary to prove a company has evolved and adapted.

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Refresh of Online Presence

If nobody is paying attention to your message, either get a new message or find new people to target with your old one. Either way, the perception of your company will change.

Pivoting your business

Thought Leadership

In the modern world, people trust experts, even if those experts are self-professed. Whoever publishes the most credible content that supports your customers’ needs is the winner.

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If Nothing Changes,
Nothing Changes.

The only constant in the universe is change. The question is, are we initiating the shift or just letting it happen? It’s time to take control of the changes in your industry and your business. A high-level examination of your market and your place in it is a good start. Reach out to us. We’re ready to help you with pivoting your business.

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