Last week I talked about how to know whether or not it’s time to pivot in your business. If you’ve been around here for a while, you know that By Sasha went through a LOT of iterations before I got to where my business is currently. And there is nothing wrong with changing up your business focus! The longer you are in business, the more likely you are to niche down (or up or even out) and focus on a specific or different sector completely. Once you’ve decided that you’re ready to pivot your business, it can feel like there’s so much to do! But there are ways to pivot effectively without losing the focus of your business or clients in the process.
When you’re ready, do it as soon as you can
I’ve pivoted multiple times in my business and every single time, I’ve learned something that has made my business better. A lot of times when we feel like our business isn’t working anymore it is most likely a matter of pivoting into something that will work. You can waste a lot of time, money, and effort focusing on aspects of your business that you’re not excited about anymore. Instead of spending that time on the parts of the business that aren’t working, use that time, effort, and money to start pivoting to the new focus on your business.
Align your new vision with new goals
In order to pivot effectively in your business, you need to make sure you’re aligning your new vision with goals that make sense. Look at your current goals and see which you can keep and which don’t line up anymore. If you’re into mind mapping, create a mind map that helps set your business up for future success with manageable and realistic goals for your business.
Keep what’s working in your business
Pivots don’t always mean brand new business. Most pivots are small, incremental changes we’re making – like niching down or getting rid of certain products and/or service offerings. Identify what in your business works well and then reuse it once you’ve settled in on the new direction of your business. You’ve spent a lot of time, energy, and money, building processes and systems that work. Redirect it towards your new goals.
Pivot into growth
One of the most important things you should do when pivoting in your business is making sure you’re pivoting into a direction that will allow you to grow. Passion projects are fun (and sometimes mentally necessary), but you don’t want to waste time rebranding and changing the focus of your business into an area that isn’t sustainable. Make sure that you take into account the opportunities for growth and expansion with your new business focus. If the market is smaller or has too much competition, you might not be setting your new business up for success.