BUSINESS

PUNT, PIVOT OR PROCEED: Winning at Business in 2020

These Days, it’s All About Contingency Planning in Business.

By Danielle Klooster

With Covid-19 numbers on the rise again, no one knows whether or not there will be another shutdown, whether or not increased restrictions will come back into play, whether or not it is safe to assume that we can carry on with business as usual. So many unknowns.

Nonetheless, we still need to set our goals, make our action plans and move, with faith and commitment, toward those ends. But how?

Flexible and Adaptable

If you are positive, visionary and forward-thinking, you are well-positioned to withstand economic storms, because your perspective and mindset are to always be on the lookout for opportunities, and you have faith in your ability to punt and pivot when necessary. You trust your instincts and believe that you will always land on your feet. These are good qualities to have or cultivate during this time of challenge and uncertainty. Flexibility and adaptability are staple approaches for you.

Punt

the pandemic struck Alberta, many, many businesses had to suddenly kick into “punt” mode, finding new ways to sell and distribute. In football terms, instead of running the ball or passing the ball, you feel you can reach the goal by punting. The goal is in the same place it always is – you just get across the goal line a different way.

Being flexible means that you are open to taking on business – and delivering your business - from more than one path. You have solid processes and systems, but you’re not locked into only one way of doing things. You have enough breathing room in your systems to deliver your product or services in new or alternate ways – like virtually, for example. When

Clothing boutiques are a good example of the punt concept. These stores staked their success on providing relational, in-person, customized 1:1 service to clients in an intimate setting. Their legs were really kicked out from under them when the shutdown hit. Punting meant that the goal – selling people clothing – remained the same, but the manner of sales had to change. It’s been really encouraging to see good boutiques find creative ways to deliver good service and maintain their brand promise even while selling online or with curbside options.

Pivot

Continuing with the football analogy, if things have changed significantly in your industry and it becomes apparent that those changes are permanent, it may be time to change the goal. There are always new opportunities that emerge in challenge and crisis. Many innovative entrepreneurs have carefully scanned the horizon for emerging opportunities and have changed their business model, products, or services. A pivot can be mild, moderate, or dramatic. What’s important is that you survive and thrive by seizing new opportunities. Being adaptable in this way markedly improves the probabilities of success.

Proceed

Maybe your business was not impacted, or not significantly, by the pandemic. If you experienced a fairly mild impact and have already recovered that ground (or are well on your way), staying the course may have been the wise approach for you. It’s always important to have contingency plans and undertake solid sustainability strategy, and, of course, prudent fiscal management. If you’ve weathered the storm without punting or pivoting and your business prospects remain strong, congratulations!

A Diverse Economic Approach

While it’s unusual to have an occurrence where almost every business is affected, which, in this case, happened not only in local economic ecosystems but also globally, the fact is that there are typically industry-by-industry ups-anddowns happening all the time. Commodities prices, international trade, geopolitical forces, and all sorts of more regional obstacles can impact a local economy. In Alberta, we know this fact well, since our oil and gas industries have been beleaguered for the last number of years.

Thanks to Jeffrey F Lin for sharing their work on Unsplash.

province puts us in strong stead to overcome and even thrive. Some of us have punted, some have pivoted, and some have proceeded. We’re using our best wisdom and judgment to go forward, implementing diverse approaches and mechanisms to stay in the game and win.

With this outlook and our strong community support well in hand, whatever Covid-19 decides to do this fall and winter, we’re going to be okay.

“A woman with a voice is, by definition, a strong woman.”

— Melinda Gates