Rethinking your business model and revenue streams FAQ
The best businesses are always thinking about what’s next, how to create new products, services or opportunities, and what risks might be ahead.
The coronavirus pandemic sped up this cycle of thinking for most companies almost overnight. There hasn’t been such a significant shift in consumer behaviour, buying and selling habits, or economic disruption in living memory.
According to research that Be The Business conducted recently, around a fifth of businesses pivoted to new products or services, or accelerated developments plans for their company during the pandemic. Another 13%, forced to put their business into hibernation, used the time to plan for the future.
If you’re thinking about looking again at your business model, or if your customer base has significantly shifted as a result of coronavirus, then this FAQ will help you review and take the big decisions about your next business move. You can also read our guide and checklist on this subject for more information.