The past few months have not been very easy for the graphics market in general. Only packaging and label companies appear not to have been affected by the effects of Covid-19. We have heard that large groups are having great losses, especially those that operate in the commercial printing market with works such as business cards and brochures that had a drop of up to 80% in revenues, which is scary.
What is Pivot in Business? It’s a shift to a new strategy and a term popularized by Eric Ries in his book The Lean Startup to demonstrate how Startups are companies with great risk potential and with an innovative business model but that has not yet been tested in the market. The suggestion that Ries gives is that one should use as few resources as possible to carry out the necessary tests to know whether or not the market will accept the product or service that Startup has to offer. He calls this the MVP acronym of Minimum Viable Product.
Should your printing company make a Pivot? This is an important decision that only you as an entrepreneur can make for your company. But in general, we believe that knowing the techniques for creating an MVP is possible. You should start asking questions like Has the printing business reached a dead end and is unable to grow? It may be that the competition is suffocating you and there is no more room for everyone. Is my business to print? Are my profit margins protected?
Necessity is the mother of all invention.Old proverb
We have seen startups change an entire business system, Uber has done with taxis, and Airbnb has done with the hotel industry. Some companies are large online printers but do not have their machinery. All of them have reinvented existing businesses and your printing company can also reinvent itself, create new products, attract new customers, change cities or countries, create an online business. Let’s talk about help your printing company to make a Pivot and create new businesses within the same business? With technology we can help you create your MVP and test the market. Why not set up a one-to-one conversation and we’ll talk in more detail?
Arando eCommerce to Print is a trademark of Red Panda Graphic Solutions Lda, a software company founded in 2018, based in Lisbon, Portugal that builds web applications for print service providers worldwide and is re-imagining how printing companies interact and transact.