Recently, Petra Coach presented a webinar, “Strategic Pivots: How to Think About Them & Execute Them” featuring Jamie Flinchbaugh.
The content is invaluable to leaders during this unprecedented time.
You can find the full recording here.
To augment the recording, we noted takeaways and tips from the presentation. To view Jamie’s screen notes from the session and three key images/charts for your personal use, click HERE.
Top Takeaways
Use this time not to return to normal, but to return to better.
Think About…
- Focus on the big picture so you don’t miss opportunities
- What can you do that other people can’t?
Where to Start…
- Take the core of your business and strip away to only keep what is true, and go from there
- Expand and reshape on what is left and redraw your business model around that
Reshape
- Ex: Catering companies now taking individual orders and provide prepackaged meals for pickup or delivery
Expand Around a Strength
- What do you already do well that you can now expand upon?
- Ex: Starbucks has a never-ending menu that they can continue to expand on
Two Things You Can Do Immediately:
- First, answer this question: Are you prepared to survive or not?
- Simplify and focus on what you know works
Create an Action Plan…
- Write out a plan of what is known and what is unknown (what you would hope to happen)
- Find your gold in what is left
- Determine what experiments and tests you can run
- Then redraw your business model around that gold and create an action plan
Ask Yourself…
- Where can you invest time?
- Where can you pivot?
- Where can you prepare to pivot?
