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How Businesses can exploit Opportunities in the midst of chaos

The world is changing and you need to change with it. In the midst of chaos opportunity abounds.

By Deladem KumordziePublished 2 months ago 8 min read
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How Businesses can exploit Opportunities in the midst of chaos
Photo by Blake Wisz on Unsplash

The world is changing and you need to change with it. In the midst of chaos opportunity abounds. The Key is to stay Calm & Focused. while everyone else is panicking and forgetting their training.

As a leader and entrepreneur, it's your job to anticipate what might happen next. That doesn't mean you can predict the future. But it does mean you need to be able to see around corners -- at least enough to know what types of unexpected scenarios might arise, how those problems might manifest themselves, and how best to respond when that happens.

In this article I'll share some examples from history where leaders and businesses acted quickly in response to chaos and took advantage of new opportunities that arose -- often in surprising ways no one could have predicted until after the fact!

Explore new markets

If you’re a business owner, now is the perfect time to explore new markets and introduce new products.

The first thing a company does when the economy is slow, is to cut back on its advertising budget. Unfortunately, this is a huge mistake. I have found that if you are running on empty and need to get noticed, advertising can be one of your most powerful weapons. Think about it: If you advertise in the midst of chaos, people will remember your message because they are already bombarded by so many other messages. And if you're smart about it—and use what's called "branding" or "creative advertising"—then your company will stand out from all the others trying to sell their products and services at this difficult time in our country's history.

When people feel uncertain about the future, they tend to become more conservative and less willing to take risks. This means that they’re less likely to try out your product or service—even if it could be helpful for them. The same goes for potential partners: when things get dicey, many companies pull back on their investments in innovation.

This period of uncertainty presents an opportunity for companies that are willing and able to make bold moves into untested waters. As long as you can prove that your company has what it takes (expertise in your field plus strong leadership), you can use this environment as an opportunity instead of worry about it being a threat!

Diversify your product and service lines; provide more value to customers.

The best way to survive disruption is by diversifying your product and service lines, so that you have a broad range of services, and be open to new opportunities.

A good example of this is the cell phone industry. When smartphones first came out, many people thought it would be the end of landline phones. But actually, landlines have done well because they offer multiple features beyond just making calls: voicemail, caller ID, call waiting etc., all for one low monthly fee. And if you want unlimited long distance calling for a flat rate priced per month? That's also available through most companies in addition to other benefits like family plans with discounted rates for additional lines or discounts on equipment repair costs (for example).

Many businesses are now using this same strategy when introducing new products or services into their existing lineups—they provide more value than what was previously offered while still maintaining quality standards at reasonable prices (and sometimes even lower) than competitors' offerings; they build trust with their customers by providing excellent customer service and support when needed; they become trusted advisors who help people make informed decisions about important purchases such as home appliances/furnishings/electronics without pressuring them into buying something just because it's popular right now - instead encouraging them only purchase something if it truly meets their needs better than anything else available today (or maybe even ever!)

Take advantage of the high supply and low demand for good employees.

You are in a position to take advantage of the high supply and low demand for good employees. This is because you have access to a large pool of talented individuals who will be eager to work for your company, regardless of its status in the market.

You should consider this when making decisions regarding the hiring process and employee management strategy moving forward. You may find that there are ways in which you can attract and retain qualified talent that would not have been possible under different circumstances. In turn, you will be able to ensure that your business has a strong foundation on which it can build as it moves into calmer waters later on down the road.

Go after new clients, new markets and new suppliers.

You can also look for new clients that have money to spend, or suppliers who can provide you with goods and services at a lower cost. There are always opportunities in the market place, as long as you keep your eyes open.

Focus on improving your productivity and efficiency.

- Improve your processes. Lean manufacturing, Six Sigma and other quality management systems are all about improving your processes. They rely on the same fundamental principles: focus on customer needs, eliminate waste and enhance value.

- Use a series of small improvement projects to continuously improve your operations. Kaizen activity involves using multiple small improvements to keep improving productivity.

- Take advantage of available resources such as consulting firms that offer training in process improvement techniques such as lean manufacturing or Six Sigma that can help you adopt these approaches

Increase your advertising, marketing and public relations efforts.

The current economic climate is favorable for those companies that have been able to increase their advertising and marketing efforts. The key to increasing your advertising and marketing efforts is to focus on the ROI of each campaign.

The first step in measuring the impact of your advertising and marketing efforts is to determine what you want from them. What do you need from your company's public image? Is it important that people recognize your brand name? Would it help if they could identify a distinct visual image associated with your products or services? If so, how will you achieve this goal?

Once you've decided what success looks like, then it’s time to measure its progress against specific benchmarks based on market share or sales data over time. The goal is not only to increase sales but also maintain profitability while doing so by ensuring that all resources are being used efficiently (i

Update your website to maximize its impact on the marketplace.

Now, more than ever before, your website needs to be one of the most important tools in your marketing arsenal. In order to maximize its impact on the marketplace and drive traffic, you need to make sure that it's mobile friendly and is optimized for search engines.

When updating your website in this way, keep these tips in mind:

- Use social media platforms (such as Facebook) to drive traffic back to your website. Whether it's through paid advertising or simply sharing links on social media platforms, making sure people can find your site when they search online will help ensure that they visit often enough for you business goals.

- Make sure that your website showcases all of the areas where customers will want information about what makes them unique by using it as another form of marketing collateral like company brochures or printed materials. This might include articles written by staff writers or industry experts discussing topics related to their field; product listings with descriptions explaining how each item works best within certain types of environments; testimonials from customers who've used services before; videos showing off different aspects about what makes them stand out from competitors (this could include promotional videos shot specifically for social media use); etcetera.)

Define, measure and strengthen your company's unique brand image.

You can define and measure the success of your brand by creating a set of key performance indicators (KPIs) that will give you a clear picture of where you are, what needs to be improved, and how well your company is performing compared to its competitors.

For example:

- Measure the number of people that have heard about your brand in the last two weeks.

- Measure how many people have written about their experience buying from or working with you on social media channels like LinkedIn or Twitter.

- Measure how many new connections were made through social media since last month’s report was published on LinkedIn Pulse (or other similar platforms).

- Track if there are any changes in brand perception by asking customers or prospects questions like “Do they feel like they know enough about this company?” The answers might surprise you!

- . Highlight any important milestones reached during 2017 so far - such as launching an online store - along with plans for future growth initiatives such as hiring additional sales staff members at HQ before year end."

Opportunities abound in difficult times.

In the midst of chaos, opportunities abound. Opportunities are there for the taking; they just need to be recognized and acted upon. You don’t need to wait for things to get better or easier before you take advantage of them—you can start right now! You may think that this is too daunting a task given your current circumstances, but it doesn’t have to be. The key is being proactive: don’t let fear paralyze you into inaction and prevent you from taking chances because there is no guarantee that everything will work out perfectly in the end (and even if it does, who knows how long things will stay good?).

Take advantage of any opportunity that presents itself by asking yourself: “What could I do differently? What new ideas can I try out? What would I do differently if I had an unlimited amount of resources at my disposal?”

Conclusion

The current economic crisis provides opportunities for businesses to grow, but it’s important to take advantage of them. Companies must focus on their core competencies, and be prepared to change as rapidly as the market demands. The best way to do this is by creating a management team that understands its market and customers, communicates well and has a clear vision of how their company fits into the world around them.

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About the Creator

Deladem Kumordzie

Challenging everything I know, unlearning & relearning⚡️ A rare breed of business and technology. Business Planning || Branding || Front End developer || Graphics || Entrepreneur || Interested in Venture Studios

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