Pivoting – We’ve Got It All Wrong
Everyone, including myself, is saying “You’ve got to just pivot.” And we’re watching hundreds of businesses pivoting. New offers are coming out as well as FB Lives and videos.
But there’s also something going on behind the scenes, something that I’ve sensed with the 50+ clients I’ve spoken with in the last week.
We don’t really know what Pivot means. Please join me tonight at 5:00 PM ET in my Facebook group as we have a very REAL and NECESSARY discussion about this topic.
I mean, how do you pivot?
How do you know which of the 30 new ideas you should implement?
What do you price this new product or service at?
When should you launch it?
And why does it seem like everyone else around you is pivoting faster and being so much more successful?
If you are feeling any confusion on what it means to pivot – know that you are not alone. I had to sit down this week and really quiet all the voices in my own head to figure out this businesses pivoting thing. My critical voices of “you aren’t fast enough” and “you aren’t doing it right” were having a full-on backyard barbecue with margaritas – in my head.
After consulting with my soul, looking at the patterns in my email inbox and going for a long walk – this is what I realized. Hopefully, it will clear things up for you too (and don’t forget to join me on the live in my FB group – tonight at 5:00 PM ET).
- Pivoting is offering or doing something new that you either haven’t done at all or haven’t done a lot of prior to this time.
For those of you that are doing videos or Lives for the first time or more frequently than ever – Yes you are pivoting – and I for one am so proud of you!
Again, most people are thinking that a pivot needs to be some huge change – that’s not true at all. As a small business you may not have the cash flow for a big change right now – and that’s OK.
It could also mean that you are offering or preparing to offer a new product or service that will serve the market at this time.
- Pivoting means that you don’t know if a new product or service will sell before you launch it. Because you are moving faster and putting something out to the market at a much more rapid pace – you don’t have as much time for thinking, testing, and processing. So you are taking a bigger risk than you would otherwise.
This is a BIG deal.
For those of you that have been trapped in perfectionism and doubt during this time – it’s because you are trying to find certainty.
How do I know this video will work?
How do I know people will need/want this product?
What is the perfect price?
The truth is that you don’t know – and you can’t know. And if you want to get the product or service out soon – you’ll just need to get it to market and then adjust it from there.
- Pivoting does NOT mean you have to put a NEW product or service out to the world. You can take a piece of an old product and adjust it. Or you can change the pricing on an old product. Just make sure it is serving people where they are now.
- Pivoting requires that you adjust your offerings in real-time – after you put them out to market. So you must listen to what your buyers are telling you. Even call them up and check in on them. And change your products accordingly. After they are on the market.
- Pivoting necessitates that you have a Plan A, Plan B, and Plan C and be willing to shift from A to B to C overnight if necessary. Yes, most of us do think of these plans, but we aren’t used to having to switch between them so quickly. What I am seeing right now is that many of my clients are hesitating about even creating a Plan A – because they are waiting until everything settles. Check yourself – are you doing this?
Because if you are – you are missing the vital opportunity of growing your business now while there are so many people at home – ready to see you and learn about your business.
So if you are feeling paralyzed in indecision or second-guessing about what to do in this time of uncertainty – here’s my advice. First, do something online that you’ve never done before or not done enough of. Shoot a video. Do a Live. Hold a Zoom webinar. Voila! You are pivoting.
Second, if you want to put a new product or service out in the world – first make sure it relates to the conversation people are having RIGHT NOW. And that it is in service of what people need at the moment. Even if it means that you are adjusting an old product or service.
Then stop trying to gain a sense of certainty about it. Take a risk and put it out there. Then adjust it as you go along. Remember that you must be willing to announce it to the world on multiple channels – video, lives, social media posts, emails, etc.
And most importantly – stop trying to make it perfect (but do make it good)!
And finally – know that you are doing amazing things – even if you find yourself not officially doing anything different. Just managing your fear through a crisis is different enough – it’s a mental pivot. Be compassionate with where you are.
I have so much more to say about businesses pivoting, dealing with fear around visibility and what to expect in your first videos and lives – so please keep reading these emails. We’re in this together and as I figure this out – I’m so happy to share it with you. And to hear what you are figuring out too!
Here’s to understanding how to pivot and going for it!
Photo: @catanne via Twenty20
