Curious about how successful businesses navigate the intricate process of pivoting and reshaping their revenue streams? Today I’m answering 7 questions surrounding this transformative journey. From determining the optimal timing for a new revenue stream to unraveling the mysteries of effective communication during a pivot, I guide you through the complexities of financial feasibility and customer loyalty.
Tune in to hear my answers to the below questions:
1. What are the key indicators that it’s the right time to explore a new revenue stream?
2. Should I add a new side to the business?
3. What strategies can I employ to effectively communicate a pivot to my existing customers?
4. How do I evaluate the financial feasibility of launching a new product or service?
5. What KPIs or key performance indicators should I monitor during a business pivot?
6. How do I maintain customer loyalty during a period of change?
7. How do you build demand for a new pivot?
If you’re looking to make a pivot or add a new revenue stream to your business then join May’s Accelerator to have my support in 2024. The applications are open for Cohort 4 starting in January 2024: https://mayjames.com/ma
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