The natural instinct of most entrepreneurs during a crisis is to pull back and play it safe. However, the greatest opportunities often come in times of adversity.
Machiavelli said, “Never waste the opportunities offered by a good crisis.”
Often we are so busy running our business as usual and settling for the comfort zone of what is working. Often adversity is a redirection. There are things we just can’t see when we are busy.
HBR article said, “For entrepreneurs with an eye for counterintuitive solutions, extreme problems and seemingly insurmountable adversity can be a crucible for creativity and business-model innovation.”
Did you know that 18 out of the 30 companies on the Dow Jones Industrial Index was founded during economic downturns?
Here are some things you can do to turn adversity into your advantage:

#1 FIND SMALL INNOVATIVE WAYS TO SHIFT BIG OBSTACLES

Remember David and Goliath?
David used a small stone in a very effective way that took down a giant. You may not need to do anything radically different. Just a small shift. If you have a service-based business, what is the one thing you can shift right now in your message or offer that will create massive value for your clients at this time?
I am always inspired by the story of the Nutella. This famous breakfast favorite was born out of World War II when there was a shortage of Cocoa. The founder didn’t lament, that his business was over. He found the creative solution of adding hazelnut to the limited cocoa to stretch it, creating what we now know as Nutella.

#2 PLATFORM VS PRODUCT

Your brand depending on your offer may want to consider making the leap from product to a platform. Products create only one revenue stream. A platform creates an opportunity to add value to your customers in multiple ways. It enables one product to work with another.
For example, Apple started with the iPod but didn’t become a platform until it introduced the iTunes store. Of course, you must ensure that you have a great product that can reach a critical mass consumer and will keep them loyal.
We have the technologies available that can help you do this. It will require you to think of creative small shifts that can help you make this big leap. Don’t think of platforms in the traditional sense. Think of how you can integrate new tools or technologies into your business that can expand the value of your one great offer.
Now is the time to reinvent your brand and prepare for your next level. To learn more about how we help our clients turn adversity into their biggest competitive advantage, schedule a free 30-minute personalized brand assessment at this link.