How to be ADAPTABLE and PIVOT your business in times of economic turmoil

Business Mentor Podcast

In today’s uncertain times you may be wondering which direction to take your business, or if you need to take it in a new direction at all. Join us today, where host Jay Dillon discusses how to know when the time is right to pivot your business and how to adapt your business to the current economic climate.

Learn how to keep your business on track and the ways you can talk to your customers to help you on your journey when you listen in.

KEY TAKEAWAYS

• Any business can give up when things get tough. You may not make as much money as you did previously but it is important to stay afloat and adaptable, this could really help to reinvent yourself and your business.
• Adaptability and using it wisely are crucial when it comes to managing your business. Pivoting is just changing direction, looking at where you are at the moment and what is happening within your business and the knowledge if you should pivot.
• There are several reasons why a company should choose to pivot. If you find your company is always playing catch-up or running into constant streams of new competitors then this could be a good opportunity to pivot your business.
• When pivoting your business, pick new goals and establish a new direction. Create a vision board, go back to your planning and start-up phase. If you are able to adapt your business model, look at ways to do so rather than scrapping all your previous work.
• Listen to your customers, find out what they want because your customers are the ones who can guide you into what the market wants. However, make sure your direction of pivot presents an opportunity for growth, look at your vision and your plan and figure out where the new opportunity lies.

BEST MOMENTS

• “You’ve got to come with solutions, you have got to look into the future.”
• “In business, uncertainty is a certainty”
• “We moved quicker than everyone else, whilst the big boys were taking their time we adapted quickly.”
• “You have to change, and the sooner you do that the better.”

VALUABLE RESOURCES

• Sign up to the Transform My Life Online course: https://beautifulminds.com.au/transform-my-life-online-course/
• Join The Disruptive Movement: https://www.disruptivedare.com/
• Read As A Man Thinketh by James Allen. Order it on Amazon: https://www.amazon.com/As-Man-Thinketh-Complete-Original/dp/1523643536
• Subscribe to The Business Mentor Podcast, the #1 iTunes Business Podcast in the UK! http://businessmentorpodcast.com/

ABOUT THE HOST

Jay Dhillon is a serial entrepreneur, investor, and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0 to 500 employees and three locations, racking up sales of over £30 million – all with no investment other than a slight amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota, and New Look, to name a few.

Its immense success inevitably brought about outside interest, and at the age of 33, Jay eventually sold the company to a London investment firm in Doyen Resources. Today, Jay owns several businesses in different sectors and helps entrepreneurs achieve success.

A calling to give back and help others led to Jay being chosen for the highly coveted role as a Prince’s Trust mentor, where his achievements were marked by a personal invitation to Buckingham Palace to meet Prince Charles.

After helping several young entrepreneurs to succeed as a mentor for the Trust, Jay’s burning desire to bring his wisdom and knowledge to a wider audience ultimately triggered the concept of The Business Mentor Podcast.

Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.

In the UK alone 95% of businesses fail within the first five years and Jay aims to reduce that number.

Backed with the hard-earned knowledge and experience from his time in business, The Business Mentor Podcast will share Jay’s personal business lessons as well those of other successful entrepreneur guests who share their wisdom and secrets on the show.

CONTACT METHOD

https://www.jay-dhillon.com/

https://uk.linkedin.com/in/jaydhillon

https://www.instagram.com/jaydhillonuk/

https://www.facebook.com/JaydhillonUK/

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