Ep. 13 - Retool, Restart, or Start a New

Trailblazer - Igniting Business & Community

TED Health

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My mission to change the narrative of mental health | Glenn Close 13:44

24 weeks ago13:44

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Legendary actor and mental health advocate Glenn Close is on a quest to change how we think about mental health, starting with her decision to speak out about her own family's struggles — a brave choice considering the stigma that pervades the topic. This week, we're revisiting this sweeping conversation with TEDWomen curator Pat Mitchell, where Close shares the inspiration behind the advocacy group she founded to combat the crisis, underscoring the transformative power of community and the critical need for comprehensive mental health care systems. Want to help shape TED’s shows going forward? Fill out our survey ! Become a TED Member today at https://ted.com/join Hosted on Acast. See acast.com/privacy for more information.…

5 years ago 46:36

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Topic 1: Retooling

Is it new products or services
Is it changing how staff assists customers or new guidelines to service your customers
The power-up sequence - turning your business back on in the right order to be able to grow fast as you emerge from the pandemic
As you retool - stay lean and keep parts of your business turned off that either look back pre-crisis or delt too much on what didn't go right
Reference material: https://www.bain.com/insights/when-and-how-should-leaders-retool-post-coronavirus-fm-blog/

Topic 2: Restart

How do you go about restarting after being closed for almost 3 months especially if you haven't reopened
Changing of hours, number of people in the store or maybe increasing curbside/delivery options - having a launch map, safety = trust, safety of staff, reviving demand, and to sustain your changes be sure to continue investment into those themes.
Reference material: https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/the-restart

Topic 3: Start a new business

So we have heard this week that the U.S. is in a recession which no one wants to hear. But this may be the perfect to start a new business. Over the last few weeks, we have been discussing the tremendous opportunity this may be to finally start or explode that business.
Maybe your business could not reopen due to changes in buying habits or cost to reopen under the guidelines - so build something new - entrepreneurship is a character trait to use your experience to build a new great company
Business is all about finding needs and efficiently filling them, during this crisis, there have been many needs exposed and should allow you to fill them.
Article Share...Steps to start a business during or out of the pandemic
- Find a niche - both brain and passion are needed here. Look for trends but understand where you can fit into that theme rather than being something you are not.
- Give people what they need; connections and connectivity
- Check your finances - finding investors will be tough. Strategic partners, bootstrap. Investors are looking for people and teams not novel products.
- Be sure to understand the commitment of taking the plunge, personally, family. Consider keeping your job and creating the business as a side hustle.
- Discounts on marketing, websites and an increase in available talent. Idea of new life, business that starts fresh allows for innovation and sweat equity.

Reference material: https://www.entrepreneur.com/amphtml/351070?__twitter_impression=true

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