Pivot, Don’t pause: Ways to be efficient and pivot during COVID

By: Amanda Young

During a time of an economic recession, businesses are forced to think, adapt, and survive. Some will figure out how to thrive.  This “survival mode” that companies forces us to think strategically and consider viable PIVOTS.  Business pivots are business changes that tend to be more dramatic of a change. Now that we are all living through a unique event in history greatly affecting industry, businesses everywhere are being influenced to make big changes. When making these changes there are three important things that business owners need to remember; be smart about making decisions, be open with employees and investors, and don’t look back on the new changes being made. 

Top 10 Business Pivots During COVID-19

  1. Non-essential costs are being cut down
  2. Marketers are creating immediate budgets and are making long-term goals 
  3. Companies are focusing on customer experience
  4. Embracing empathy for clients
  5. Websites are being improved and created
  6. Expanding social media and communication platforms 
  7. Social media calendars are getting put into play
  8. Employee safety is being highlighted
  9. Creation of new products or services (ex: delivery and curbside pickup for retail companies)
  10. Getting on top of competition through performing competitive research

Overall, it is so important for business owners to not leave their businesses behind. This is a great time to focus and plan for where their business can go. Business owners should take advantage of this not so common down time and make something great of it.  With that in mind, it is essential for businesses to remember “pivot, don’t pause”.