Pivot is the act of turning or a person or thing on which something depends; the central or crucial factor.
I mentioned the need to pivot in another article I wrote.
What does it mean to Pivot?
When something isn’t working, you need to pivot (change) to something else. Basically, it is a switch to something else.
I been watching Undercover Billionaire. During the episodes, Stearns wanted to open a draft brewery. He believed it would be the ideal new company in the area. However, it was simply not feasible. He could not accomplish this desire.
So, he had to pivot (change) his path of a brewery. In so doing, he incorporated barbecue products with draft beer to form a new restaurant, . His willingness to pivot, brought a better and stronger idea. What not to do
What Not To Do
There is a big difference in properly pivoting when something needs change and adversely flailing around, wasting time and resources.
When to Pivot
Philip Lay’s article to Pivot or Divot, he uses Steve Blanks cover article. In it, he provides his methods to know before you pivot.
‘Blank’s implication is that you need to test your ideas in relation to all nine blocks – value proposition, customer relationships, customer segments, channels, key activities, key resources, key partners, cost structure, and revenue streams – in order to ensure that your thinking is solid. ‘
There are a lot of companies successful now, but started out as something totally different. While the initial idea became fruitless, the ability to pivot allowed success in other ways.
In the article, The 15 Greatest Pivots Ever, we see recognized companies that originated with different ideas. Among those are Groupon, Instagram, Flickr, Facebook, Twitter, Paypal, Apple, Gowalla, rapt, Microsoft, rapt, Seesmic, YouTube, Pandora, Nokia, and Sony.
Treachery
Without a doubt, the landscapes are changing. This includes social, business, political, and all manner of ideaologies. In order to survive, we must adapt accordingly.
I have always told my students;
The best skill you can learn is the ability to relearn.
Matt Cole
I still feel this is correct. I am not talking about a crazy 180 degree. However, your ability and willingness to relearn will put you farther ahead than others who fear to change.
Are you stalling in life? Maybe it is time to pivot.
Matt Cole has high regard for knowledge share. He has a desire to share critical thinking and information. With a Masters in Information Technology and a wide array of certifications, while not working full-time, he wishes to knowledge share through providing insight, information organization, and critical thinking skills.
#KnowledgeShare | Matt Cole | #infobyMattCole
