The Power of The Pivot

Being an entrepreneur means you must be good at making quick decisions, and then reflecting on those decisions to understand which way you should go next.  Sometimes (let’s be honest…. a lot of the time) the decisions you make at any certain moment may lead you down the wrong track or produce unwanted results.  What do you do then? You PIVOT (yes you should read that word in the voice of Ross Gellar from Friends)

Pivoting is such an important tool when running a business.  You cannot get stuck dwelling on a tough call, some bad numbers, or even some realizations you may have had about your business, you need to act.  

In this context, we are using the word “pivot” as a verb, and in a business setting.  When doing research about this blog according to Oxford Languages: Pivot used in this way means completely changing the way in which one does something or to begin to run or manage (something) in a completely different way. Think about it, when you pivot, you are doing a full 180 from what you were doing.  Spinning your wheels in a completely new way.  And let’s be honest, that is scary!  How do you know if you should stick it out or start an about face and move in the other direction?  Well, here is my honest raw answer…I don’t know if you ever really know that 100%.  What I do know is that as business owners we should have already gathered the data, talked with our mentors/counsel, and BE READY.  

Personally, when I hear the word “pivot”, I’m thinking of making a quick decision, and a preparedness for change.  Once I am armed with facts and statistics, I can pivot around to where the next move is.  Business is ever flowing, and slow decision making is like a dam, holding back the floodgates of success.  Because let’s be honest…in making no decision or even a slow decision……those are still decisions. And just to clarify, I totally understand that sometimes the decision can be to slow down and gather more info, or the decision is to give it a few more months… but the preparedness to be ready and move is the “pivot” we are talking about here.

With that, let’s turn this conversation over to you.  Here are some questions I’d love for you to ask yourself about your business:

When was the last time you had to make a big pivot in your company?  

What were the steps you took to make an informed decision to flip something on its head? 

Is there an area in your business that you have been stalling on making some tough decisions, and how has that hurt or helped the company? 

What are the reasons you are shying away from making those decisions?