I’ve owned my own businesses for almost two decades. In that time, I’ve come to know that certain things happen when it’s time to change or pivot your business. In fact, I’d make the argument that when your business isn’t going the way you want it to go, it’s past time for a pivot. Your only other option, really, is to close up and go get a job. And who wants to do that?
Here are seven signs it’s time to pivot your business.
- You have a nagging feeling that you should be doing something different in your business.
- Your income is flat or decreasing slowly EVEN THOUGH you are marketing and making offers to prospects consistently.
- You feel unenthusiastic about your work, burnt out, you wonder if this is all there is, and you are procrastinating doing what you know you need to be doing to keep your business stable or expand it.
- The industry you’re in has evolved over time and you’ve got a feeling you are left behind, no longer on the cutting edge. People are on to new and different things, technology has evolved and left you behind.
- You secretly have a vision of doing something else but haven’t yet put words to it. What you’re doing now has been OK so far and you hate to rock the boat. Still, you are feeling a calling to something else.
- Your business is not challenging you enough. You aren’t learning new things or creating new products. You feel like there’s nothing more to do than to deliver the same products and services over and over again, forever.
- You’ve had changes in your personal life. Maybe your personal goals have changed, you want a different lifestyle, or you need a different income level.
The issue is, when we need to pivot we often get stuck in fear, so we sit and do nothing as the situation gets worse. The longer we procrastinate the worse it gets, and the worse it gets, the worse we feel! Why do we put pivoting our business off?
- We’re not sure what to do.
- We don’t want to make a mistake.
- We’re afraid we’ll lose the tiny little bit of business we’ve got.
- We want something new to be perfect right out of the gate.
- We don’t want others to see us as a failure.
It’s normal to shift things around in your business – you change, the market changes, trends change, your client and prospect base changes. Big business pivots all the time! It’s no different for you.
I’m excited to offer some great resources for you about pivoting your business. The Pivot Your Business Mini-Summit starts soon (March 24), and I’m one of the people being interviewed. You can listen in by clicking here on my own affiliate link, and there’s no charge for listening, either! My friend, Cathy Goodwin, is interviewing about a dozen seasoned online entrepreneurs and we’re all talking about our own experiences in pivoting our businesses, along with what worked and what didn’t.
Do you have specific questions about this? Put them below, and I’ll be sure to answer them during my interview, which is April 4th. Meanwhile, register for the calls and gain lots of insight and advice from those of us who have been there already.