The Power of the Pivot
Most small businesses thought that by this point in time we would be back to “normal”. Well, that has not happened. Yes, there are signs that certain aspects are slowly getting back to where they were; however, for small businesses the rate of the return to “normal” may not be fast enough. How does a business survive this downturn?
Ancillary Product Lines Supporting Sales
Businesses offer many different products and services. There are primary, secondary, and even tertiary products and services that customers seek out. These services solve a problem for the customer or satisfy a need. It is important right now to realize that our customers problems and needs may have changed. At Medical Equipment Source, LLC, we have always had face masks, gloves, sanitizer and general laboratory accessories such as laboratory hoods, flammable cabinets, microscopes, centrifuges, ovens and incubators; however, it has only been recently that these secondary and tertiary products have had a surge in sales. Our customers had a greater need for what we viewed as ancillary product lines.
Navigate the New Normal
It is important for all businesses to access the additional products and services they can or currently offer to navigate our new normal. As our market changes, so must our businesses. We need to pivot to stay relevant. By identifying the problems that our customers have, we can search for how to solve those new problems or needs. We might even realize that our business already has the skills, capabilities, and products to meet the new demand.
MES prides itself on being able to stay nimble, to respond to the wide-ranging needs of our clients, and to do it all with superior customer service. Any business can do this if that business is aware of their abilities and willing to change or pivot to find new avenues of revenue or reprioritize their revenue streams.
Opportunity Exists Even in the COVID Era
Our marketplace may not be what it was pre-COVID; however, that does not mean that there is not opportunity. All small businesses need to seek out these different revenue streams and be willing to adjust to meet the new needs in the market. Markets are always changing and the businesses that are able to adapt to the changes, rise to the needs of the market, and maintain a great customer experience will not only survive – but thrive.