pivoting your business

How do we pivot from one idea to another? We mentioned this term in the previous post, referring to when a business must change its strategy, we are not referring to starting project after project, without ever completing any of them and with a lot of doubts in mind. We will summarize this entry because we want to clarify a point regarding the subject.
Pivoteando tu negocio

We mentioned this word in the previous post, referring to when a business must change its strategy, we are not referring to starting project after project, without ever finishing any of them and with a lot of doubts in mind. We will summarize this entry because we want to clarify a point regarding the subject.

By pivoting we mean that you take your business and redirect it to another market, or offering another value. What does this mean? For example, you have already launched your product on the market or you have already opened the doors of your business and it has not had as much demand as you thought. Well, what do you do? You open another completely new business on a topic that has nothing to do with what you were doing before, well not really, that's not the idea, the idea is that you change your business strategy; that is, your sales plan, how you get customers, how you present your products, etc. Let's do the following exercise:

You opened a cookie business, during the first few weeks your mom was the only one who bought you cookies, now after 2 months you are already receiving the first orders and the business is starting to bill, excellent. Now there is a low season of demand for this product, let's assume it is "March", then in this case, what would you do? As we always say at EMI, there are millions of options, such as sitting down and waiting, seeing how your competition manages it and saying that life is unfair or think of new plan. For example, even though no "common" holidays like Valentine's Day or Mother's Day are celebrated in March, people keep giving sugary gifts for birthdays, anniversaries, baby showers, and more. So based on this scoop, which you discovered during a few weeks of observation, what conclusion did you reach?

  1. Partner with a person who prepares gifts of this type, whether it be surprise boxes, balloons and offer your cookies as a complement and agree on a price for the sales.
  2. Attend the bazaars that are going to be held throughout the course of this month offering your services.
  3. Create a box of express gift cookies, where different sizes and decorations can be included and people only have to create their combination and pick them up.
  4. You start to create the decoration of your sweet table in events, and you look for a person who is in charge of the decoration of events and you offer to help him with the part of the sweets of the events.
And if we continue the list does not stop, this process will not happen overnight, it may take time for planning and organization, but it is possible to achieve this result. In conclusion, we have to tell you "Always look for ways to create value", by creating value in different ways you can contribute to the approach of your client and the expansion of the market.

Emi Group RD

Desde 2017