Times of crisis, are the times that entrepreneurs getting more creative. At least more open for changes within the business. The disadvantage form crisis is that it is harder to get investments financed. On the other side if you get a loan the interest is probably lower.
All together crisis is a good time to re-invent your business. The Lean Startup methodology is an excellent method to use.
Put your present business model in the Lean Canvas as a starting point.
Then make a brainstorm with a focus on the problems you expect you can solve with your solution but for different customer segments. Try not to think to much about your solution.
- Which problems do you want to solve with your company?
- Which customer segment you expect to have this problems?
- Can you solve this problems with your present solution?
- What you expect to be the value proposition for every new problem-customer segment (make a Lean Canvas for every customer segment)
- What are the alternative solutions to solve the problem?
- What is your unfair advantage?
- Who can be your partners? Do you corporate already with this partners?
- Key metrics
- Expected margin
This way of Business Innovation may help your company through the crisis and even better be much more competitive after the crisis and prepare your company for a fast growth.
If you are owner of general manager, who is able to decide of a company from 20 till 200 people and your interested for an open brainstorm, please contact me.