The American businessman Warren Buffett said: “In a chronically leaking boat, energy devoted to changing vessels is more productive than energy devoted to patching leaks.” This is imperative to keep in mind when proposed with the question in business on how to adapt to the market when the tide changes.
Needing to reshape your business to meet the needs of the market is something Ask Zoe knows all about.
As, in 2020 in the hospitality, events, and management sectors they changed overnight, and 14 years of work was wiped away by the Pandemic. While no one could have expected Covid19, understanding and accepting that change is an inevitable part of your business and life. Adaptation will help you move forward by clinging to what you know. As by, patching the leaks in your boat, may seem easier than refreshing your business for a new market, but it seldom is.
What I realised was that I still had the same skills and knowledge that had been used to make my work in Events Management a success. So, applying that knowledge to my own business meant asking myself the three questions that my clients want to know the answer too and what we encourage you to ask when looking to adapt if your market changes?
- How do I grow my business?
- How do I attract the right customers?
- How do I move my business forward?
As by knowing that I had the tools to adapt my own business to support a new audience meant that I knew I could transfer those skills to supporting clients in any sector. This is the key to adapting to suit the marketplace, by knowing the strengths of your business, understanding who needs your skill and then creating a plan to take the business forward.
This is why we encourage you to ask yourself these same questions when proposed with the question on: How to adapt your business if the market changes?
In my blog in November 2020 I said “Change is an opportunity to adapt and grow. Adapting your services not only helps you meet the needs of your existing clients, but it can also increase your appeal to a new audience.” We have helped many businesses over the last couple of years. One was Dan Holmes who we helped to rebrand as ‘The Life Insurance Guy’ making his offer easier to understand for his market and this provides a perfect example of how adapting to the market can bring a successful return on investment.
Dan said: “Working with Zoe, through her strategy service, allowed me to achieve a 200% ROI in my business. I was absolutely blown away by her marketing knowledge. In just a two-hour session, Zoe gave me loads of practical things to change and implement in my business, to improve my social media presence, my personal branding, my email marketing, events and so much more!”.
It is this sort of work for our clients that has helped Ask Zoe to grow by 750% in the last two years and proved that an innovative approach to adapting your business works.
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