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10 tips to pivoting a business in a crisis

Dom Dedic • April 12, 2020

What is needed to pivot a business in crisis?

  1. Let go of all biases and preconceptions. It’s time to get back to the drawing board. What would you rather be doing? A fresh start.
  2. Revisit your mission, vision and values. Does your mission still make sense? If not, you may need a bigger purpose.
  3. Define a range of short, medium and long term market needs. Where is the value? Have a balance of quick wins and slow burns.
  4. Assess your internal assets and capabilities. How can they be repurposed? What are the gaps? How do you fill them?
  5. Conduct a SWOT. What are your strengths, weaknesses, opportunities and threats? Define your strategies.
  6. Build a pipeline of innovation. Identify and prioritise a range of projects by short and long-term value.
  7. Account for failure. Keep what works. Kill what doesn’t. Iterate.
  8. Build technical capabilities to make quick tactical manoeuvres.
  9. Create simple processes that can be adapted quickly.
  10. Develop your product. Give people what they want now. Prepare for what they will need tomorrow.
  11. Go! Time is of the essence. Start.
icu2 synthesis technology, branding and marketing to provide an end-to-end service for Business Transformation. Using methodologies in decision science and evidence-based practice, icu2 can help your business make a more informed decision about your next step in business.
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