For Subscribers

How to Respond to Urgent Needs Without Losing Focus on the Big Picture

Pivot to a new market and bring to life a product amid the coronavirus pandemic.

By Chris Xu, Ph.D.

Opinions expressed by Entrepreneur contributors are their own.

Whether your business is still reeling from the coronavirus pandemic, is grappling with a supply chain crisis or is struggling to keep up with new consumer demands, a key component of longevity from a business perspective is adaptability. Being able to remain flexible, to anticipate the needs of the market that your business serves, and to find innovative solutions to obstacles are all key to making your business successful. It will also position your organization as a thought leader while setting the stage for your customer base to look to you to solve future problems.

2020 brought unprecedented challenges not previously experienced, flipping peoples' lives upside down and forcing businesses to re-evaluate everything from their day-to-day operations to revenue streams. In order to remain competitive, businesses needed to shift from thinking about ways to make money to thinking about strategies to survive through and beyond a global health crisis. While some organizations hunkered down with plans to ride out the storm, our team recognized the challenge and saw an opportunity to use our knowledge and expertise to serve a greater worldwide purpose. To accomplish this required us to venture into unknown territory. Below are a few tips for business leaders on how to respond to urgent market needs without fear of jeopardizing customer loyalty due to a lack of organizational focus.

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Related Topics

Editor's Pick

This 61-Year-Old Grandma Who Made $35,000 in the Medical Field Now Earns 7 Figures in Retirement
A 'Quiet Promotion' Will Cost You a Lot — Use This Expert's 4-Step Strategy to Avoid It
3 Red Flags on Your LinkedIn Profile That Scare Clients Away
'Everyone Is Freaking Out.' What's Going On With Silicon Valley Bank? Federal Government Takes Control.
Leadership

How to Detect a Liar in Seconds Using Nonverbal Communication

There are many ways to understand if someone is not honest with you. The following signs do not even require words and are all nonverbal queues.

Diversity

The Odds Are Still Stacked Against Women in Business. Here's How Young Women Can Defy Them.

As a woman running a seven-figure fintech consultancy, my success hasn't come without its fair share of challenges. Here are some key strategies to jump over the obstacles women face in the corporate world.

Marketing

After Getting Turned Down By Multiple Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She did It.

Author Karen Inglis breaks down the strategies and tactics you need to generate awareness and sales for your self-published book.