PIVOTING YOUR BUSINESS
This term that has become a buzzword referring to a significant business change, ranging from mild to dramatic. This word usually is intended to convey that a business is recovering from a tough period or surviving after experiencing new competition or other factors that makes the original business model unsustainable.
PIVOTING has been added to the lexicon of the English language due to Covid 19 and has me reflecting on what is necessary to pivot a business or repurpose, another Covid age word, our skills sets.
The following is an acronym for what I believe are the key elements to successfully pivot a business.
POSITIVE attitude – A can-do attitude is essential to drive us and our team forward.
INNOVATION – Lateral thinking, fresh ideas, and new processes to approach the new reality.
VISION – A clear plan and compelling view of the road ahead and an exit strategy.
OPPORTUNITIES – To seek out and understand what our markets needs are and who can help us achieve them.
TALENTS – To recognise our skill sets, to learn new skills and collaborate with others who have those skills.
IMPLEMENTATION – No plan can work without the drive and motivation to carry it through.
NUMBERS – What value does the idea bring to others and to us and what is it going to take to make it work.
GRIT – Every plan takes determination to see it through to the end regardless of push backs.
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