“Never waste a good crisis” Winston Churchill was pretty spot on with this sentiment. Right now is a great time to rethink, refresh, and readjust your business strategy and business model.  

Ask yourself the following questions:  

  • Strategy: How can you compete in the marketplace? What differentiates you? What problems are you solving?
  • Business model: What is your way of operating? How has it changed? What needs to change for you to thrive again?
  • Tactics: What actions do you need to take to achieve your goals?

What is one thing you have changed this year? Let us know below!


Franziska: Hi there! I’m here at headquarters today because we are running a session here for our members. And one thing that I thought I’d share with you here is something that we have been working on with most of our Clever Bunch and Genius Bunch members here which is re-thinking our business strategy and our business model, and then of course the tactics that come out of that, and we mainly, of course, we focus mainly on marketing here but it’s a really great time right now to rethink everything and someone really smart, I think it was maybe Winston Churchill or someone said something along the lines of “never waste a crisis” or “never waste a good crisis” I think, and I couldn’t agree more, I think right now, as we are going through a crisis, it’s a really good time for businesses to re-think the way that they operate and to re-invent and refresh everything, starting at the strategy level, and then looking at the business model which is part of your overarching business strategy. So strategy first, your business model – which is part of it And then your tactics, which are the actions that you’re taking to fulfill your strategy. So quickly, a few questions to ask yourself. So first up, your business strategy. You can ask yourself – Does it need an upgrade? Are there different opportunities for you available? Your strategy is about how you compete in the marketplace. So can you upgrade it? Is there a different way for you to compete? Is there a way for you to change maybe your audience or your positioning, or your differentiation? A good question to ask also as part of your strategy is what problems are you solving right now – and has that changed? Then the second part is your business model and this is usually the biggest part right now to adjust for a lot of businesses here that we work with at Basic Bananas this has been the biggest piece of work and that includes thinking about what is your way of operating now? How has that changed? So for example, for us here, our business model has changed in regards to how we deliver our marketing mentoring. Before this pandemic, we used to do a lot of workshops, face-to-face, across the world, in different cities, people coming in, and us, our mentors, working in the room with businesses. Now, the model has changed to virtual. So now, we’re delivering the training, the mentoring, in a virtual way. So we’re meeting people in a virtual way. And we had to adjust the way we deliver the content and how we mentor businesses in a more virtual way, and it’s working really well. So for us, it’s working really well, but for you, you might think about, “Okay, how do I need to change?” Maybe aim how you want to change your business model to grow. Do you want to license? Or do you need to move from having a physical store to more e-commerce, where you sell through a website, or do you want to move to wholesaling or licensing What’s your business model? So that’s the 2nd thing. And then the 3rd thing as I mentioned are the tactics, the actions that come out of what you’ve come up within your strategy and your business model. So it’s just a matter of thinking about what actions you need to take to get to achieving the goals that you have set up in your strategy. So I hope this is helpful and if it is, feel free to share this video with any business owners that you may know that would benefit from this and as I’ve said it’s a great time right now to do this work and not waste this crisis but to really put your head down to rethink your model and don’t wait for this pandemic to finish so you can continue the same way you were operating before. But make your business better. The business owners here that we work with, that are focusing on making their businesses better, better, and better, they are the ones that are doing really well despite the circumstances. So hopefully this is helpful, and I will see you on the next video. Bye for now!