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While many often debate the importance of a business plan, it’s now more important than ever to not only have one, but also pivot your plan when necessary.
On this morning’s WJR Business Beat, Jeff shares tips for entrepreneurs to successfully pivot their business models.
First, take stock. Look at what you’re good at and pivot in a fashion that tweaks your model a bit so that you can still do what you do well; play to your strengths, but find something else to produce; and change your mentality, shifting your perspective from growth to survival.
Jeff offers more insight below:
“Success today is finding a way to stay in business, keep the lights on, communicate your vision to your team and get their buy-in and certainly communicate with your loyal customers who are there with you before you made the pivot so that when you go back, you can keep those great customers you worked so hard to earn.”
– Jeff Sloan
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