How do you know when it’s time to pivot?
In basketball, a pivot is the action of stepping with one foot while keeping the other foot at its point of contact with the floor. We see players doing this while they’re plotting their path the the basket in the face of an opponent. The player explores (and tests) multiple ways to get to the goal, and chooses the path of least resistance.
When it comes to your business, when was the last time you pivoted? When was the last time you took a hard look at the landscape of your industry and recognized that you have some changes to make?
A pivot in your business doesn’t necessarily mean it’s the end of the road. Pivoting can be a tool to discover additional growth–growth you’re probably missing right now.
Businesses can grow beyond their initial dreams by re-imagining their products and services, thinking differently about the customer problems they solve, and seizing opportunities for additional capital to get to the next level.
Is it time to pivot your business in order to see growth?
A few years ago I interviewed the owner of the first mobile boutique in the state of Arizona, and after being on the go for 3 years she executed a major business pivot in order to boost her profits.
In the video below, you’ll hear her mention how she came to the realization that her audience wasn’t what she’d initially thought, and how she adapted her business to better suit their needs.
Check it out, and don’t forget to download the FREE Pivot Checklists to help you evaluate, prepare for and execute your own profit-boosting pivot.
We’re seeing more and more businesses go out of business because they didn’t pivot soon enough…or at all.
I would hate for you to make the same mistake.
Go forth and pivot (if necessary)!