Tips on how businesses can thrive through COVID-19

In Conversation with Fortuna Advisory and Chatterbox

Watch Dinesh Aggarwal, Founder and MD of The Fortuna Advisory Group talking about Business Strategies, how brands can thrive through COVID-19, and much more. 

This interview series was conducted by Shil Shanghavi, Chatterchief of ChatterBox Public Speaking. 

Part 1 of 4- The Fortuna Legacy - "We stay with you for life". 

Along with providing a one-stop solution for all your commercial needs, we use our distinctive culture based on our organizational values to deliver exceptional services and ensure that you continue your legacy.

Through the journey of life, from a single person to being a couple and then to having a family, we ensure that we walk with you through all your major transitions - be it your risk plans with the right insurances, financing needs, business advisory, tax planning, wealth management, investment strategies, SMSF and business exit strategies - we journey with you so that you will leave a lasting legacy beyond your lifetime.

 

The Fortuna Legacy - Part 1 of 4

Part 2 of 4- Pivot Vs Repositioning  

The word of the month - Pivot. During COVID-19, we have seen many businesses use the word "Pivot" as a business term that is mentioned quite often. What does it mean for a business? Find out the difference between Pivot and Repositioning.

Although, "Pivot" is used commonly amongst startups and entrepreneurs, it is particularly important through a crisis to ensure the relevancy of product to market changes. A pivot generally takes place when a company makes a fundamental shift to their business after determining (usually through market research) that their product needs are tailored to their targeted market.

Repositioning is a shift in how to position your brand in the market after a phase of market research. Brand repositioning is an important exercise that should take place after a crisis to ensure continued relevancy to the market place.

Both Pivoting and Repositioning are critical for tapping into new opportunities in the market, e.g. moving from one product phase into another and trying to use current business infrastructure to create a product that the market wants.

 

Pivot Vs Repositioning

Part 3 of 4- The Value of Collaboration 

Are you making use of the opportunities? Find out how collaboration is going to be key in how businesses run in the future.

Collaboration is key in the post COVID19 world as this gives businesses the opportunity to tap into markets without a huge initial overlay of risk.

Companies considering expansion and diversification through business analysis should first consider collaboration and a business risk mitigation strategy. The value that collaboration can deliver is allowing the company to still have a larger market share and enhancing their core competencies while partnering with other businesses to deliver a higher value offering - all whilst growing their individual niches.

Business example case study: Xero's expansion internationally.

 

The Value of Collaboration

Part 4 of 4- The New Norm

What’s Post-COVID going to look like for businesses? What is the new normal?

During this COVID19 transformational phase, the world is still learning new adaption strategies however it is evident that business risk mitigation processes and plans should be factored into operational sustainability planning.

Another key learning is that the adaption of digital technology - for example, meetings have been redefined through new online platforms. This has also triggered a change in the thought processes at the senior management level, reflecting the wiser use of the business capital and ensuring leanness in business operations.

 

Post Covid-19