Passion got you to a certain point and passion will always carry you in your business. Passion for your business, however, shouldn’t blind you to being focused while running your business.
In this post, we talked about knowing when to hold and knowing when to fold. In other words, it’s about the beauty and strength inherent in making a pivot. It’s about knowing what no longer fits your business and what no longer serves you. Sometimes, strategic decisions have to be made.
A word of caution: some may mistake a pivot for not being committed to a particular idea. Others may think that a pivot means trying to please as many people (like customers or even investors) as possible to get a few more dollars from both. Pivots, however, are not flip flops.
What is the difference between a pivot and a flip flop? The answer is focus. A lack of focus can make people susceptible to enacting changes that have no basis in fact, data or objective assumptions. A lot of flip flop decisions are clouded by emotion which can be more prone to failure. Contrary to pivots, flip flops are driven by a lack of solid foundation in business and driven by a need to please or appease others.
Focus allows you to separate the wheat from the chaff and to identify what matters when you notice changes in your business. It helps you see what the shifts are with your customers, your competition, market trends, your metrics, etc. Focus also helps to interpret the shifts so that you can make that informed decision to make that smart, strategic pivot.
What types of smart, strategic pivots have you made for your business? Call us for a free 30 minute phone consult so that we can talk about your success stories. Call 312.208.7329 or email firstname.lastname@example.org.