You Pivoted... So Now What?

Congratulations! Your business survived the pandemic — because you pivoted to make it happen. Whether the pivot came through instinct, reason, luck, or a combination of those, many of my clients are now asking, “What’s next?”

In fact, I’m getting asked this a lot. I like the question because it means clients are being proactive and looking ahead. They want to know the best way to transition to “life after the pandemic” and what to do with the pivot they implemented.

But many clients aren’t sure what questions they should be asking. “Tom, should I do this, this, or this?” It’s important to note that there aren’t any right or wrong answers when looking ahead. And I can’t offer universal business solutions here because each business is unique.

Let’s say you thrive on the energy of live audiences. Or maybe the event technology is what’s important to you. Maybe just being involved in events in general is what makes you tick. Like I said, each business is unique, just like you.

When Are You Going To Be Happy Again?

How do you clear the fog of survival mode and get back to what motivated you to go into business in the first place? I’m advising clients to evaluate three alternatives: Continue, Revert, or Amplify.

How do you find out which option is right for you?

Option 1: Continue??

If what’s really thrilling to you is the technology of show business, meetings, or events, then you’re looking for ways you can use tech to turn a profit. This is what makes you happy.

Why not carry on? It requires the least amount of drama and funding. Most of your energy is focused on improving processes and expanding your supply chain, while your inner geek gets to explore new solutions.

Right now, clients in this category are happy as hippos in a river. They’re making money and finding all kinds of new technology to solve new problems. And if they’re happy, why change?

Option 2: Revert?

If creating engagement for live audiences is what gets you up in the morning, you’ll probably choose this option. Sure, you’re happy making money right now, but you’d be happier making money with a room full of attendees on their feet and having fun.

You don’t want to change who you are. Maybe you’re sick of compromises and were happier doing things the pre-pandemic “old way.” If this is you, reverting may be your best bet. Ween yourself off the studio and virtual work and focus on clients that value in-person as much as you.

Don’t get me wrong. You can’t turn back the dial to 2019 and expect to make money with the same business model. Your supply chain has changed, and so have customers. You’ll have to maintain a minimal overhead and probably turn away more work than you’d like. But you can make more money on less work with lower risk, if you tweak your operating model.

Option 3: Amplify?

If it’s making money in the event business that oils your engine, this is the option for you. It’s not so much about what aspect of the business you fit into. You’re agnostic on that front. You just love to make money in the event business.

You’re doing something, and that something’s working. You want to expand: Do bigger events, more important events, and make bigger money.

Take what has worked this past year and run with it. Strip away old processes that you won’t need again. Dump idle inventory. Add creative and design capabilities. Grab more of the customer’s “buy.”

Amplify. That’s your road to happiness.

Bottom Line

I’ve worked with clients in all categories. There’s an upside and a downside to each of the above scenarios. All these clients are at a post-survival crossroads in their businesses. It’s not just about profit, though that’s important. It’s also about the owner’s happiness.

If you come to me and say, “Tom, I just want to make more money,” then I’ll help you amplify. If you want to revert and are willing to deal with the challenges, I’m not going to judge. When it comes to being happy, only you can tell which path will get you there. I’m just here to help you reach your goals.

Bottom line: I’m going to help you do what makes you the most happy with your business. Why? Because that’s what makes me happy.?