Over the last two months, we provided our top-level perspective about the impact of blunders and mistakes in an unprecedented economic environment. We examined a specific set of circumstances; made recommendations about how to avoid them and wrote about fore-planning and strategic decision-making and how they impact future success.
In addition to the brief recap below of the 7 Blunders and Key Mistakes businesses make during a crisis, we now introduce our next series: the 3-step process of Assessing, Designing, and Evaluating key opportunities to create a more sustainable future and to give your company a competitive advantage during the recovery.
Because by now, your “normal” has changed. And one thing remains certain – your customer needs and organization capabilities will have to evolve. This requires different thinking and a willingness to adjust.
With these 7 opportunities, we will show you how to identify, prioritize and make the most of future opportunities by repositioning your company for growth. This requires a master strategy plan and an honest skills and capabilities assessment to ready your organization to capture as much market share as possible.
This is the journey we will take:
Phase II: Revise in Order to Thrive: 3-Step Process to Capture New Opportunities
- Assess: what impacts the pandemic has had on your customers, brand, products & services, markets, channels, systems, and people; and creating the foundation to capture during the recovery.
- Design: create a strategy to capture market share and understand the resources required to execute successfully; and
- Evaluate: by testing your assumptions and modifying strategies based on feedback and analysis.
We will utilize this 3-step process when considering each of the following opportunities:
- Creating the Foundation – Propel Your Business and Capture the Recovery
- Scaling through Acquisition
- Positioning & Branding
- Products & Packaging
- Markets & Channels
- Systems & Processes
- Team Capabilities
Once we review the opportunities, our final series, Phase III – Thrive, will be all about implementing and capturing the growth in value, revenue, and profitability to move ahead of your competition.
If you would like assistance in any phase of your planning, implementation or recovery, please reach out to us by pressing the connect with the Let’s connect button above.
Our first article in the new series: Phase II – Part B: Opportunity #1: Creating the foundation to capture the Recovery.