So, when is it time to pivot?
CEOs are often so hesitant to talk about a pivot – but sometimes it’s exactly what you need to do. I want to tell you why as a brand, and as a business, you should always be in a pivot position.
Get in the Game
Think about a basketball player. They play the entire game on the balls of their feet. They’re running, they’re moving, and they’re in a pivot position during the entire game.
And a pivot position is a power position that lets them easily move: it lets them see what’s behind them and it lets them find a new way to get the ball. A lot of CEOs I talk to often think of a pivot as a sign of failure, or a sign that something didn’t work. I don’t see it that way at all!
So, I want to give you a couple of ways to look at pivot in a very positive, proactive way for your business.
The Market Waits for No One
Think about it this way: your business is standing still, and around you, your customers are moving, the market’s moving, and new entrants are coming in every single day. I say all the time to my clients, “the market waits for no one.”
So if you’re standing still, and everything’s moving around you, there is a very good chance that you’re going to lose touch with your market. You’re going to lose touch with your customers because you’re leaning back – you put all the weight on your feet, and you’re not in that agile ‘PowerPlay’ position where you can easily pivot.
Pivot doesn’t have to be this giant project, or this huge engagement of a rebrand with a new logo, color palette, messaging, strategy etc. Sometimes it needs to be that, but oftentimes it just needs to be a little adjustment. Tweaking your unique value proposition, looking at your brand positioning, and making sure it still holds water – that can make a huge difference. Those small pivots help you stay in lockstep with your market, and that’s what it’s all about.