Pivot Point: Are Your Business’s Old Ways Holding You Back?

Even though it is great to have big ideas and see them through, sometimes our innovations don’t play out the way we imagine them. When this happens, we have to adjust to reach success.

Course corrections, or “pivots,” are a way for entrepreneurs to combat the uncertainty of launching new products or services by making changes and adjustments until you achieve a great formula. While it might seem easiest to rely on your gut to make these decisions, using management systems instead will often lead to better results.

Eric Ries, author of the book, “The Lean Startup,” argues this point in describing his popular Lean Startup methodology. He claims that executing well thought out pivots in the midst of a startup is the best way to approach business solutions.

What can we learn from this concept? Making difficult, but necessary, changes in startup ideas is the best way to create better opportunity for success.

How do you know it is time for course correction?

A pivot might be in order if:

• There is opportunity to expand a single product into a whole line of them. Or, if what was originally planned as a whole product would work best as a single feature.
• Early customer feedback presents a problem (such as price or lack of real application) or if a different target market might be more appropriate to sell to.
• The way your company is monetizing and growing is not allowing for further success — your current tactics are holding you back
• There is opportunity to create better, more effective products and services through different sales and distribution channels.
• New technology can be used to achieve the same solution at a better price or with improved performance.

Spotting pivot points can be tricky whether you are just getting off the ground or you have been running the same business for a long time. That is where an outside perspective can be invaluable. Working with Cloud9b2b experts can present you with new opportunities for building a better business.

[cta]Change is healthy — but often businesses need an experienced guide like Cloud9b2b to help them make changes. Get help: Contact Cloud9b2b at 469-384-7122, by email, or through our contact page.[/cta]