START THINKING OUTSIDE THE BOX
In business, pivoting means adjusting your path to meet customers where they are going. Pivoting is not a wholesale change. Instead, it leverages the current business in a different way. Sometimes a pivot can be planned, but more often it involves making in-the-moment calls on the field after the market has started to decline. It can be a recession-proofing strategy or simply a way to survive the decline of a specific market.
A successful pivot requires staying in close contact with customers and maintaining a willingness to step away from tried-and-true thinking. Examples of successful small business pivots can be seen in the restaurant industry, when businesses pivoted from offering fine dining experiences to boxed meals for takeaway, or cafes pivoted into small grocery stores.
About the author : Darlene
Darlene Gagnon is an award-winning entrepreneur recognized by the National Association of Women Business Owners and is an Enterprising Women Inspirational Entrepreneur. She served on the board of directors for Entrepreneurs’ Organization and has mentored entrepreneurs and start-ups for over a decade. Her two companies, WeKinnect Global Branding Agency and Kinetic Promotional Product Services, have been recognized as “Best Places to Work” and “Largest Agency” by American City Business Journal. Both companies serve the US, Canadian, European, and Australian markets. Both companies are located in The Woodlands, Texas, with teams in Canada, the Philippians, and India. Her digital marketing and advertising agency services in English-speaking countries around the world.