What is a Pivot?
To pivot simply means to identify the successful elements of your offering and put them together in a novel way that works in today's business environment. Think of this as a remix of your existing skills/products/services, which is the golden thread running through all successful pivots.
How to Pivot
- Conduct a comprehensive audit and map out your core strategy/products/services/skills. What works, what doesn't and is there anything you could add to the mix that would add considerable value?
- Focus only on the elements that work today and into the foreseeable future.
- Keep your existing clients, target market and vision front of mind - think of this as the context of your pivot.
- Once you have clarity on your new offering, tap into additional ideas, wisdom and experience beyond your formal networks (the best ideas usually come from left field and often in a form we could never have conceived of).
- Start small, don't change everything all at once. Prototype or create a beta programme of your new offering and test your markets. Pay keen attention to the results, adjust and test again until you find the sweet spot.
Clarity, Courage and Action
When we learn about people who have had a radical change in their career or companies that have magically turned into something else, it all sounds rather easy. We tend to glamorise the success stories without a real understanding of what it took to change direction.
The truth is, it takes clarity, courage and action to pivot. To recognise that what you're doing isn't working the way it used to and to have the courage to take bold action at the right time.
If you know you need to pivot your career or business, join me and a diverse group of business people from around the world for the next Time to Pivot session.