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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