In today’s fast-changing world, successful businesses recognise when to pivot—making a strategic shift in direction, offerings, or approach.
But how do you know when it’s time to embrace change? Here are key indicators and strategies to make the shift with confidence.
When to Pivot
- Declining Sales
If sales have plateaued or fallen, it may signal that your current approach no longer
resonates. Shifts in customer needs or market trends often mean a change is needed. - Emerging Opportunities
New markets, trends, or technologies can open doors. Embracing these early can
position your business as a leader in a growing space. - Customer Feedback
Consistent feedback about unmet needs or desired features is invaluable. It might
mean tweaking offerings or even a more substantial shift to meet demand better. - Internal Challenges
If your team faces inefficiencies or high turnover, reevaluate your model. Sometimes a
pivot allows for streamlined operations and a healthier work environment.
Strategies for a Smooth Pivot
1. Start Small
Test new ideas with small-scale trials to gather data and minimise risk. This approach
helps gauge whether a full pivot would be successful.
2. Focus on Core Values
Even as you pivot, stay grounded in what makes your brand unique. Align new strategies
with core values to keep current customers and team members engaged.
A pivot can be a powerful move when it’s well-timed and strategically executed.
