It is OK to change the plan! As businesses we are all trying to find ways to earn revenue and meet our strategic goals as we adapt to the “new normal” of the virtual business market and world. With social distancing, work-from-home orders still in place for some, and the novel Coronavirus pandemic still not completely controlled, businesses are pivoting to survive during this unforeseen health and economic crisis.
“A pivot is a change in strategy without a change in vision.” Eric Ries, Author and Entrepreneur
A business pivot is a restatement of your business model. It is typically intended to help entrepreneurs recover from a difficult period or persevere after facing new competition, loss in revenue, or other factors that make the original business model unsustainable. Consequently, owners know that their business cannot survive in the unsustainable state, therefore, a pivot is sometimes the only plausible option for survival, according to the article “Is Pivoting a Last-Ditch Effort or a Sound Business Strategy?”.
There are some businesses that are currently thriving during this pandemic. Perhaps they offered a product or service designed for “such a time as this” or they were able to pivot and capitalize on market demands. Winery and distillery companies across the country were able to successfully shift into making hand sanitizer, filling the void and capitalizing using their alcohol products.
At some point all businesses will need to pivot in one area or another and this is where iSeek Solutions comes in. At iSeek, we subscribe to the notion that standardized, highly-repeatable processes produce predictable outcomes. iSeek Solutions equips organizations to create value and maximize growth through alignment of business and technology transformation and innovation. Over the years we have developed resources that assist us and our clients in successfully navigating the complexities of alignment.
In our consulting engagements, we utilize our internal resources to facilitate the engagement. Traditionally, our resources have only been available to our clients as part of a consulting contract. However, iSeek Solutions has pivoted by going digital, making our products and resources available to you without a formal contract, along with advisory assistance on how to maximize use of the resources in your organization.
To assist our clients in achieving alignment, which positions them to reach their strategic and tactical goals, we have developed a set of resources listed below that are available for use out-of-the-box or through collaboration with iSeek for client-specific customization.
iDMX© – Project Decision Matrix
A strategic, factor-based measurement tool that utilizes scientific practices to assess the benefits and constraints of an organization’s strategic factors and removes subjectivity from project decisioning and prioritization.
iPMM© – Project Management Methodology
A guide consisting of industry standard steps, processes & procedures for managing strategic projects through the project management lifecycle (PMLC) from ideation to implementation
iPMPlaybook© – Project Management Playbook
A suite of best practice, standardized tools & templates integral to managing projects through the project management lifecycle (PMLC) from ideation to implementation.
A framework that defines processes, tools & deliverables expected during each phase of the business analysis lifecycle (BALC) and can be referred to as a sub-methodology of the iPMM© specifically addressing the process & procedures of the Business Analyst (BA) role.
There are numerous factors that must be considered before embarking on a successful pivot and iSeek professionals possess the expertise and tools to assist your business in proactively developing future-facing strategies that mitigate the impact of COVID 19 and capitalize on growth opportunities.
To help your business adapt, change, and pivot for long term success, take a look at iSeek’s suite of resources to learn more about how you can access and obtain them.