What does it mean to "pivot well"? Times of great change like we are in today, demand that we change. The key is how we change...how we pivot. We can pivot well or pivot poorly.
In this episode I’ll dive into how we pivot. In these times of COVID-19 Coronavirus, changes need to happen, pivots need to happen. A pivot is a shift in direction. It can be major, such as a 180 degree turn, or, like the vast majority it means shifting to some degree but not drastically.
Let’s dive in!
As I noted at the start, times of great change like we are in today, demand that we change. The key is how we change...how we pivot. We can pivot well or pivot poorly. In these times of COVID-19 Coronavirus, changes need to happen in our business...pivots need to happen. Let’s dive into how we can pivot well!
DEFINING A PIVOT: A pivot is a shift in direction, an altering of the direction we were on.
A pivot can be major, such as a 180 degree turn, or, like the vast majority it means shifting to some degree but not drastically. An example of a pivot today might be a business moving from Quickbooks desktop to Quickbooks Online so that multiple team members can access the books as needed but it can be easily done from a remote location when using Quickbooks online.
Another example is from friends of mine in the financial advisory world. Their business was based on hosting events previously, which now are impossible. So they need to pivot and they are moving from hosting events in a conference center to hosting webinars online using Zoom.
These events led to 1-to-1 meetings with potential new clients. Those meetings now need to move to Zoom video conference meetings.
This is a “pivot” in a business process. It is not abandoning the business or product but making a shift in the method and corresponding communication paths.
There are multiple areas your business needs to be aware of that will likely need some type of pivot in the days ahead. Don’t wait! Plan, implement, adjust, find a new normal. By being pro-active and having a bias for action you can pivot well. These areas include:
Things like your accounting software, moving your files and key software to the cloud for access from anywhere (Dropbox, Google Drive, Wave Accounting, QB Online). Team communications (chat software like Slack or Google Hangouts, meeting online software like Zoom and Google Hangouts)
Be available. Find a way forward together. Be a consultant and offer ideas when they may not be thinking broadly enough. Think “we” not “I” as they are in new territory as well.
I already mentioned the financial advisor example. What can you shift online? Will webinars for information that lead to 1-on-1 video conference presentations to sell be a fit? Can you video your product and send customized videos to those with questions? Should you add website chat services to your site to enable real time communication? These are all sales pivots to be creative and do more only. Video conferences are the next best thing to in person meetings and many times they can have the same results. Recorded videos are next. Think outside-the-box!
The tendency is for a business owner to think, “How do I survive?” However, I think Simon Sinek has laid it out best when he outlines the opportunity we have to think and act with “how do we (collectively) get through this?” He outlines this as “better together” and I think he’s so right! We can find ways to pivot well.
It’s a pivot in thinking from one of only self-preservation to one of thinking about how you think outside the box to find ways together for businesses, employees, customers, and vendors to all get through the challenging times.
In these uncharted times, it’s time to think creatively and think “we” in survival mode and not just “me.”
Are you wanting resourcing for leading and for self-inspiration to go beyond “me” to “we” in these times? Consider my books to help you improve your leadership and also to help you make a positive impact that adds value.
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I’m a basketball fanatic who loves the game and sees the parallels to life. Every basketball team heads to the locker room at halftime to evaluate the first half and create an updated plan for the second half. That plan includes adjustments based on reviewing what worked and what didn't. The “halftime” is a key review point where the game stops, the team pulls away to huddle in the locker room away from the fans, and they come out prepared and ready to succeed in the second half.
That’s what this podcast is all about, taking the time to pull away for a bit to evaluate, learn, and set some strategies for your business to succeed in the second half. Join me by subscribing and let me be your “business halftime” to help you find great success going forward!
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