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We have all watched the Friends episode where Ross, Rachel, and Chandler are moving a couch up the stairs. Just like pivoting a couch up a flight of stairs, sometimes we have to repackage our product offering.

I always enjoy listening to Mike Michalowicz’s podcast. He shared an analogy about pivoting during unknown circumstances that really resonated with me. 2020 has taught us that we have to be ready to pivot at any given moment. It keeps us business owners on our toes!

What do you think about pivoting your business or products/services? Have you been in the process of pivoting?

Let’s look at your current offering or deliverable. For example, let’s say you own a restaurant and the final offering is food on the table.

1️⃣ The step before that the food is delivered to the table. If people can’t come to the restaurant they can deliver the food to people via food trucks to neighborhoods, etc.

2️⃣ A step before that the food is prepared. A business could create and sell its top 10-15 recipes online.

✅ This simple exercise can get you thinking about your end offering and how to take one step back to find repackage options.

What’s a small thing in your business you could change that would align you with big wins?

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Technology

  • Without a standardized technology solution your employees and clients are forced to continuously shift between various programs and spreadsheets. 
  • How many systems are you using in your business? (Scheduling software, excel spreadsheets, multiple softwares to collect payments?)
  • What is your monthly software cost?

Outdated Systems

  • Eventually you’ll get to a point where the cost of software maintenance, workarounds, and limitations become so costly you can’t afford not to change. 
  • How much time and money does your business invest in outdated systems? 
  • Do you know how much you are spending on your systems compared to current market prices for similar solutions? 

Lack of Metrics

  • If you don’t have performance targets in place, how do you know if your employees are meeting goals? Measuring your company’s success through achievable goals is critical in analyzing areas where your business excels and where it can be improved.
  • Do you have metrics in place?
  • Are your metrics directly related to your business goals?

Employee Onboarding

  • The longer it takes an employee to become accustomed to the business, the longer it will take the business to see their return on investment. Having a successful onboarding process can ensure new hires will stay longer. 
  • What does your onboarding process look like?
  • Do you have a 30,60, and 90 day onboarding plan?
  • Do you have a client onboarding checklist? 

Obstacles and Hurdles

  • Small businesses tend to overlook sources of process slowdowns because they  don’t know the impact it can cause. 
  • Processes for key areas of your business aren’t documented.
  • Are you experiencing slowdowns within your business or redundancy?
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