August 21, 2021 5 minutes read
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Even if your business idea is perfect, you will eventually need to pivot. Pivoting, especially for service-based entrepreneurs, is an inevitable part of business development.
Having said that, pivoting can be a quick excuse. You will never achieve the momentum you desire if you try to pivot whenever things get difficult or you have a bad week. Remember that momentum is built slowly at first. Pivoting can be costly and disruptive. If you place too much pressure on yourself to succeed, you might abandon your idea when it fails. In fact, a simple tweak could be all that is needed to make magic happen.
My role as a strategist and business coach is to help female business owners grow their business without stress and struggle. Bro marketing has conditioned us to believe that the only way to propel a business forward, is to hustle and give up rest, peace, and all other time. It is simply not true. You will both be able to build a business that you love and make more money by making decisions from a place where you feel confident.
Related: These marketing tactics are damaging your brand's credibility
Why pivoting is a must
A popular IBM report from 2008 found that 98% of CEOs moderately modify their business models on a regular basis. Let's face it, pivoting is an important step in growing your company.
You can no longer believe that once you have your business model figured out, you won't need to change it again. Your business will always need to be tweaked and adjusted. Your market will change. Your skill set will also change. Your lifestyle requirements and desires will also change. Change is the only constant in business, so it's time to embrace it.
Indra Nooyi, former CEO of PepsiCo, is a classic example. She was responsible for restructuring PepsiCo's sub-brands before she became chief executive officer. Nooyi was aggressive in acquiring brands such as Tropicana, Gatorade and other beverages. These acquisitions more than doubled PepsiCos annual profits. PepsiCo was around for more than 30 years. However, that did not mean it could't reinvent entire departments to make them more profitable or aligned. In your business, you should be willing to make changes.
Similar: 4 Tips to Set Up A Successful Pivot Strategy
Vibe customers buy on vibe
Consider the last time that you spent a lot on a purchase. What was the reason you did that? Although the product or service was a factor, it is not always the main reason why we buy. Often, our biggest motivator to purchase a product or service comes down to how they make us feel. You will feel dissonant if you are constantly worried about the business model or trying to fit a round peg in a square hole. Even if it's not, this pressure can be very noticeable and deter others from wanting to work alongside you.
Do not put too much pressure on yourself. Instead, figure out what you need to do. You are being too fast and trying to burn the candle at both ends is a sign of shortsightedness and a recipe for disaster. Sustainability is essential for a business to make six figures or more.
How to pivot well
Ask yourself why you are considering a business turn. Are you really passionate about serving your clients? Maybe you need to show your genius in an entirely new way. Are you tired of the marketing?
There are many marketing platforms to choose from. The right offer is promoted to the right people in a way that makes a business successful. There are many variables. Instead of throwing everything out and starting over, try small tweaks to see if that changes or shifts your energy.
After making these adjustments, if you feel the need to go in a different direction, find ways to make it easier for yourself. Are there any content or assets you have that you could reuse? Are your clients interested in joining you as you grow into something better? Your audience will feel excited and energetically aligned with your offer if they are also feeling enthusiastic.
Over time, your services will evolve and change. Pivoting is an inevitable stage in business. It's important to pivot from a position of power and not from fear or scarcity. You can keep your energy up when you are making big decisions. This will make your entrepreneurial journey smooth, even through different seasons.
Related: 9 Ways To Attract Good Energies Today and Every Day
