- Business Growth
- In terms of looking at Pivot options – are there any best practice frameworks/formulas/questions to ask that small business could look at to help accelerate the development of a pivot strategy?
- Reply To: In terms of looking at Pivot options – are there any best practice frameworks/formulas/questions to ask that small business could look at to help accelerate the development of a pivot strategy?
Reply submitted 20/04/20 @ 03:38pm::
The ideas above are an excellent round up of new considerations so I’ll come at this from another angle.
The thoughts below are a couple of practical tools to help you and your team collaborate, generate ideas and push the business to consider new ways to drive the business forward.
Firstly, have a crack at an empathy map for each segment of your customer base. ( https://miro.com/templates/empathy-map/ )
An empathy map gives you the head space to really consider what your customers are thinking, feeling, hearing, saying and doing at this time. As much as this will be an assumed exercise, i.e you’ll not have conducted qualitative research, it might provide you with a different perspective, territories to explore and raise some key questions.
Cluster these questions into a series of how might we (HMW) statements. We call these statement starters. e.g HMW offer businesses that are ‘thrivers’ at this time with ‘insert aspects of your offer here’? (See Andy’s LinkedIn article describing the thriver segment – https://www.linkedin.com/pulse/covid-19-response-some-thoughts-how-business-economy-can-hamilton )
I recently helped Snap Rentals pivot to Snap Delivery; a same day, personal shopper, grocery delivery service starting with Farro but expanding nationwide. They’re classic ‘thrivers’.
Consider these types of businesses and target them with fresh thinking.
That’s just one HMW. Come up with 5-6 per customer segment. Once you’ve created your HMW statements get your team together on a call and using collaboration tools such as Miro come up with as many ideas as you can for each HMW. As a rule articulate your idea as a single sentence. Run these as 5-10 minute sessions with your team. You could use Google Sheets which we’ve found can work just as well as Miro for live ideation.
After each session you’ll have generated a significant volume of ideas. Now refine them.
As a group discuss the ideas and vote on the top 3 per segment you’d like to take forward.
These are a couple of very simple tools to help you to think differently and may help you to our up some ideas that assist in your pivot.
Once you’ve got your refined list of ideas you can explore ways to bring them to life with your team, generate simple storyboards or prototypes of your ideas and test them with customers in your current segments and perhaps some new segments you’ve identified. See what gets a nibble and iterate your thinking until you hit on an idea(s) that has the desired outcome.
All the very best of luck.