LP2X Survival Tips:
Re-examining Your Business Model
By Bernie Dixon
I know. It’s hard to be strategic when faced with uncertainties and revenues that may be dropping off the cliff. And yet, I want to help you weather this storm and even produce some business gains during this unprecedented business environment. Yesterday we published LP2X Survival Tips for Early Stage CEOs and concentrated our tips on business hygiene and basic financial and HR steps to take now. You can read it here. In my usual style, I am not filling these articles with academic discourse but rather usable business techniques and suggestions for right now. Today I want to offer some thoughts on re-examining your business model.
5. Communicate, communicate, communicate.Let your customers know what you are doing and how you are operating. Is it business as usual? Are you cutting services or service hours? Do you have products and offerings that can help their business to grow, pivot or simply survive? Don’t miss this opportunity to communicate with your customers. They will remember who served them well during challenging times….and those who did not.Please let me hear from you on what you are doing to adapt your business. Remember Darwin’s theory? It’s not survival of the strongest, it is survival of those who can adapt the quickest. Keep Playing to Win
Bernie P. Dixon is Founder and Chairman of Launchpad2X, a founder-to-CEO accelerator training program for women entrepreneurs. LinkedIn
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