Is It Time to Pivot?
If you’re going to be successful in business, you’re going to have a day when a very large decision looms…
…do you keep doing what you’ve been doing though it hasn’t yielded the results you want? Or do you pivot?
Frankly, you already have pivoted at least once. That’s how you got into business for yourself. Because you used to be a nurse or a manager/director/big mahoff at a large company. And now you’re doing your own thing.
That was a pivot. And a very big one.
You left whatever you were doing, being paid by someone else, to go do your own thing because it made you happier, more profitable, more fulfilled.
I’m sure that wasn’t an easy decision. And I’m equally sure you have another pivot facing you right now (or there’s one coming down the pike).
This pivot might be more challenging because your choice is to stop doing something you believe in or adjust it…
…but first, you must stare down the reality that it’s time to pivot.
Like many things in life, your business throws off signs indicating you should be pivoting. But can you see them?
Here they are. Signs it’s time to pivot:
- You know your business can be a stronger, better version of itself. That means you must break something…a routine, a way of marketing, how much time you spend selling, letting a team member go, adjusting a product that isn’t working. You’ve got to step up to being willing to change.
- Your customers’ needs are changing. If you keep offering what they’ve wanted in the past, but they don’t seem to want as much now, that’s a clear sign it’s time for a pivot in what you offer. Customers and markets never stay the same forever. Keep your ear to the ground and your Spidey senses clued into what they are doing rather than what they are saying.
- You’re spending way too much time firefighting. If at the end of each day you leave your business feeling you’ve accomplished nothing on your “to do” list because you’ve been tending to fire-after-daily-fire, it’s time to step back, reassess and make a change. You’re operating in the weeds, and it’s time to get out!
- You’re stuck and no longer growing. Growth is a clear sign your business is working. When growth stops…when you get stuck, plateaued or feeling like you’ve tried everything you know how to do, your business is flashing a clear sign it’s time for a pivot.
- You can’t see a path for growth anymore. It’s time for a new path, to look in other directions, to investigate new areas. You don’t have to completely abandon what you’ve been doing. However, the right pivot will reinvigorate your results.
- You’re bored. Why are you bored? Don’t pivot just to get excited again. Pivot when your boredom is a result of a lack of results.
- Your Spidey Senses are telling you to pivot. But we don’t always pay attention to our intuition, do we? If your results are starting to tail off, perhaps the business hasn’t shifted as you have. When you’re in perfect alignment with your business, it’s in perfect alignment with you.
Now I also know knowing it’s time for a pivot is one thing. Knowing where and how to pivot is another.
Every business owner committed to their business should have a business coach or mentor as part of their Team. A coach/mentor brings fresh eyes to see what you cannot. A coach/mentor brings experience from their business and that of others they’ve worked with, and you don’t have that experience.
If your business could use a shot in the arm (or maybe a punch in the face) to wake it up, pivot. And if you can’t see how to pivot, it’s time you brought a coach/mentor into your world.
Go forth and do great things,
Martha Hanlon and Chris Williams
P.S. We coach and mentor. Maybe you knew that. If not, let’s talk about how we can figure out your business pivot to reinvigorate your results…an easier, simpler, more profitable business.