Maclean Partners, Chartered Accountants, Financial Planning, Townsville, Queensland
Lets Talk
Client Portal
Blog Layout

Reinventing your product and service offering post-covid

January 1, 2022

Reinventing your product and service offering post-Covid

 

During times of crisis, we are forced to reinvent the way we work and what we work on to remain sustainable.  From technology adoption to product innovation and blowing up stale processes, a crisis forces us to start with a fresh page and plan for a better, more resilient business.

Four ways to reinvent your business post-Covid:

  1. Innovate.   Defined as 'the introduction of new things, ideas or ways of doing something'.  What new behaviours or needs exist in your target market and how can you create a new product or service to meet these needs?
  2. Re-engineer.   How can you change and improve the design of your current offering?  How can you produce it better, in a way that reflects your customers' changing needs?
  3. Adapt.   How can you change the way you deliver your products or services in this new business environment?  Adapting your opening hours, the sales process or your follow up support options are examples that may help establish a new 'normal'.
  4. Widen your lane.   Do ongoing supply disruptions or changes to competition provide the opportunity to extend your offering?  What expansion opportunities have presented themselves as part of the post-Covid landscape?

Remember, you are defined by what you say 'no' to as much as what you say 'yes' to.  Test the market, reach out to loyal customers and seek how you could innovate, re-engineer, adapt or widen your lane to continue being their brand or supplier of choice.

Innovation is a key part of your Business Recovery Plan.  Call us to see how we can help your recovery through developing more resilient products and services.

Keeping your cashflow strong in tough times

February 18, 2025
Weathering the storm? Small businesses are particularly vulnerable in tough economic times. We can help with strategies for healthy cash flow, so you can continue to thrive.

Babyboomer Wealth Being Targeted by ATO

February 11, 2025
“Succession planning, and the tax risks associated with it, is our number one focus in 2025. In recent years we’ve observed an increase in reorganisations that appear to be connected to succession planning.” ATO Private Wealth Deputy Commissioner Louise Clarke

Setting goals for you and your business for the year ahead

January 13, 2025
"Setting goals is the first step in turning the invisible into the visible" Tony Robbins
More Posts
Share by: