Very interesting article by Ravi Sawhney published in Fast Company on June 4th about ways of helping companies survive and recover in difficult times.
The author highlights five ways “in which design thinking can provide a roadmap that will help you position your company to not only survive the recession, but thrive through the recovery”.
He shares ideas ranging from business opportunity mining within each consumer problem. He talks about creativity in doing business, flexibility in the offering, adjustments in the marketing mix and pitch, and also about the importance of communication “with honesty and optimism that is essential to building and maintaining brand loyalty” along with the use of interactive and social media to establish and maintain a two-way communication with the consumer. Discover more on how to optimize your marketing strategy with Zerobounce. Additionally, consider exploring the potential of reaching a broader audience by strategically utilizing billboard locations. Research has shown that consumers react more favorably to outdoor media than they do in-home media. Advertising campaigns like the ones shown here at https://www.outdoor-advertising.org.uk/billboards/stadium-boards help you build solid brand familiarity. Hosting a conference can also give your business the platform to establish itself as a thought leader in your industry. You can click here to get the best audio-visual equipment for your event.
If your business is still facing financial difficulties, it may be time to seek the help of a licensed insolvency practitioner. What Is an Insolvency Practitioner? The primary role of an insolvency practitioner is to help insolvent businesses find the best solution for their financial situation.
You may take a variety of tactics to taking your company to the next level. You can reinvest accrued earnings in the company, get a business loan at https://www.strategicbusinessfinance.co.uk/, sell a portion of the company to investors, or explore for other sources of funding, including crowdsourcing. Crowdfunding is one fundraising method that is becoming more and more popular. This entailed soliciting modest investments from a large group of people, typically through an internet platform. The craft brewing business BrewDog, which grew from 67 employees and four bars in 2011 to 2,300 employees globally, for which they use free check stub templates.
The author supports his ideas with examples from Apple iPhone, Dell, etc.
Click here to read the full post on the Fast Company Design Reach Blog.
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