Alireza Kohany Suggests 5 Ways to Pivot Your Business During a Crisis

Alireza Kohany
Alireza Kohany

“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change.” — Charles Darwin.

In a matter of weeks, everything changed. Uncertainty is the only thing that is certain. Most businesses have been greatly disrupted and negatively impacted. Companies, CEOs, executives, entrepreneurs, employees and business owners are facing a time of great uncertainty and what lies ahead is unclear.

Once you have stabilized your business it’s time to focus on the future. Here are 5 ways to pivot your business to not only survive, but also to thrive:

1. Embrace the digital way
If you’re primarily run out of a brick-and-mortar store, it’s time to find the digital version of whatever work you were doing. Can you deliver your product or service electronically? Restaurants have been hit especially hard by the pandemic, and many have transitioned to online delivery and curbside to-go orders.

Ask yourself: what you can provide online?

2. Leverage your existing assets and resources
Leverage your current assets and resources and align them with your customers’ current needs. What could you change in order to fulfill those needs?

Ask yourself: What do people need most right now? How can your company fill that need with your existing resources? If your business is unable to operate, is there a way to pivot to digital or a business that is deemed essential?

3. Deepen loyalty with existing customers
We’re all in this together. Be real, authentic and transparent about your efforts to serve your customers as best as you can — and let them know how they can support you in return. Loyal customers are champions for your company and brand ambassadors. Continue to maintain a strong relationship with your clients whether directly, individually, in newsletters, and or/via social media. Show them you care. Trust matters (more than ever)!

Ask yourself: How can I best engage and communicate with my customers now? What can I do to encourage my current customers to support my business? What are other companies doing to engage customers that I could also be doing or could help my business?

4. Explore the benefits of collaboration
There’s an African proverb that says, “If you want to go fast, go alone. If you want to go far, go together.” The objective of collaboration can be new ideas, exploring synergies, and creating new business partnerships, where 1+1 = 5. Partnerships can help give you access to new customers, new products or new markets. What partners can you work with that also have resources you can leverage? Is there a partner you think could help sell your product or service to their customer base? What could you offer them in exchange? Is there an opportunity to bundle your products together? True partnerships and successful collaborations are win-win.

Ask yourself: Who could I collaborate with? What businesses do I have synergies with or common customer profiles? What current partnerships would be mutually beneficial to my business?

5. Try and fail (and try again!)
There has never been a better time to try (and fail!). Now is the time to experiment. Quickly launch new ideas with minimal investment. Focus on results. Learn and improve with each iteration. Not everything you try out will work. And that’s okay. Expect to fail. Move on. It may take multiple attempts to figure out what works for you. Be brave. Have courage. Persistence pays off in the end.

Ask yourself: If I do a small test of a new idea and it fails, what is the worst that can happen and what knowledge can I gain from trying? How can exploring a new partnership or collaboration benefit me?

Alireza Kohany (Persian: علیرضا کهنی) Born 18 June, 1993, Tehran, Iran, is a Young Entrepreneur, Musician, He has Managed to Attract Many Fans in Social Media