Pivots, Endings, And New Beginnings

I started my first business in 2011 at the age of 32. 

Looking back now, with over 12 years of experience as an entrepreneur, I see a significant theme.

Twists & Turns. Or, to use a business term, pivots.

pivot: completely change the way in which one does something

Pivots take many different forms in business, but it almost always comes down to 1 of these 3:

1. You pivot your products/services to meet the evolving needs of the market

2. You pivot your products/services to sell what you enjoy best, letting go of the rest

3. You pivot out of your business entirely to do something else you think you’ll enjoy better

I have done all of these many times over. 

And honestly, it’s the only way you’ll survive as an entrepreneur over the long haul.

The Market Will Change.

What your clients want today will not be exactly what they want in the future. Think about these big changes we’ve seen in recent years:

• Online Shopping vs. Brick & Mortar: While there’s a true soft spot in my heart for shopping in real life, the majority of people shop online now. It’s fast, convenient, and, let’s face it…we’re lazy.

• On-Demand Video vs. Cable: Gone are the days of sitting down to watch live TV! Most of us subscribe to multiple on-demand channels so we can watch what we want when we want. Give it to me now!

• Social Media vs. Traditional Media: Our attention span has gotten so short that we’re consuming most of our “news” through social media vs. tuning into traditional media outlets like broadcast TV or newspapers.

• Chewable Vitamins vs. Pills: Honestly, I was stunned the last time I went to buy vitamins in-store and could hardly find vitamins in pill form! Apparently, people really want sugar-laden chewables now. Hmmm.

While some of these changes may not feel dramatic to your business, that’s not the point. The point is HUMANS change. And the humans that are buying from YOU are changing. So you’ve got to listen in and make sure you’re business is poised for the pivot when (not if) the time comes.

You Will Change.

If you’re completely honest with yourself, there are things you don’t love about your business. And maybe you’re just grinning & bearing it because you think you have to. Do any of these sound familiar?

• You don’t love what you’re selling. Once upon a time, you enjoyed selling that product or service, but now…it’s a whole other story. You would rather be doing something else.

• You don’t love the clients you’re working with. Do you keep attracting a certain kind of client that is truly NOT what you want? 

• You don’t love the people you work with. It’s possible you’ve even hired some folks that you don’t think are a great fit for you or the business anymore.

• You don’t love where you live or work. Maybe you’re not even jazzed about the physical space you inhabit on a daily basis.

These are all SUPER NORMAL feelings, but business owners often feel really STUCK inside the “glass house of their own creation”.

Hear me loud & clear…You created your business, and you can RE-create it anytime.

You May Be Done With It.

This is a topic that frankly needs to be discussed more openly among business owners. 

Sometimes, you just want OUT. Your heart may not be in it anymore and all the “logic” or money in the world doesn’t feel like enough to keep you there.

You do have options.

• You can close it. This can be one of the most liberating decisions you ever make if it’s fully aligned with what you want out of your life. 

• You can sell it. Your business may be valuable to someone who wants to enter the market or who already has a business and wants to expand.

• You can hire folks to run it for you. Another awesome path out of the day-to-day, is to hire a great team to run your business for you.

Closing a business can sometimes feel like “failure,” but I view it completely differently.

Your business is a WIN because it existed. You had the courage to bring it into existence!

You business is also a WIN if you exit it, because it sets you free to do something else with this one precious life.

Pivots Are Part Of Life And Business.

Nothing is constant or fixed. 

Everything is in motion.

You, your clients, your team, your business…

Indeed, the whole freaking universe is in motion.

So…

What Pivot Are YOU Being Called To Pursue?

PS. Want help navigating a pivot in your business? Book a Business Coaching Clarity Call with me and I’ll be happy to help. 

PSS. I’ll share one of my newest pivots next week 🙂 I’ll leave you with this teaser below!