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Pivots on the road to success
Pivots are often seen as a setback, especially for a startup. But pivots can become great opportunities.
If your goal is to succeed in the long run, it's more important to get there than to count the difficulties along the way.
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A pivot is a chance to evolve into something better
- Maybe your perspective and vision have shifted after you've launched your brand. Redoubling on your original goals may be the wrong move.
- Or you may find that researching a niche and becoming part of it are two different things.
Customers and investors value credibility but also effective action. As long as the pivot is done gracefully, your customers will value the transparency.
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Pivot can be a catalyst for growth
If you're noticing a levelling-off period in growth and development, it may be a reason for change.
- Try to identify the reason for stagnation, for example, an unmotivated team or lack of customer engagement.
- Decide what could be the biggest catalyst to push your brand from the plateau. It could bring fresh energy into your company that may lead to significant growth.
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It forces you to focus on the big picture
A business plan should be unique and specific enough to solve a problem but not so narrow that it fails to leave space for growth.
Many entrepreneurs get too precise too quickly. The important part is to recognise it early on and change to a less rigid, big-picture model.
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Let your pivot signal an overarching aim
Pivots are full of growth opportunities, but the key is to be consistent. Before you dive into a pivot, consider how it can fit into your brand's big narrative.
Employees, customers and investors are more likely to be receptive to a pivot if it is in line with the company's overall mission.
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