In business, moves are a necessary part of progress—you’ll even move back a little here and there, and that’s okay. As long as you’re moving forward more than back, you’re making good progress. If, however, you’re not sure where to go from here, you might need a little help.
Fortunately, you’re not alone. The COVID-19 pandemic completely changed the way that the world does business. Although it’s been unfortunate for many, it has been promising in bringing about buzzwords like “pivot”—so is this a word that you need to worry about? And how do you know when it’s time?
Let’s start by talking about what a pivot is, and then we’ll cover the 10 signs you might need to consider making a move.
As the name suggests, a pivot is simply when your business changes direction because the current offerings are no longer serving the target market. Or, perhaps, you realize that you need to address a different target market—in any case, it’s about figuring out that it’s time to shift gears.
You’re not completely changing here. You’re not tearing it all down and building it back up. Pivoting is still no small feat, but it’s a lot easier to make a pivot than it is to redesign and redefine your entire business.
Although every business will experience something different, there are some telltale signs that your business might need to change directions to some degree. If you experience any of the following, consider what a pivot could do to change the situation.
Results take time, consistent efforts, and proper strategies. Of course, you can’t jump the gun here. Realistically, you can’t expect something like doubled sales volume in just a few weeks, for example. However, if you notice that it’s been consistently difficult to hit your sales goals month after month, you might realize that it’s time to pivot your efforts and change your strategies.
Business owners are tired. It’s just the nature of things. However, if you feel like you’re constantly slogging away and you don’t even have enthusiasm for your business anymore, it might be time to change things up. After all, when you’re the owner, you have to show up with passion and energy if you want to pass it onto the rest of your company.
This is a surefire sign that something is wrong. If you have longtime customers that are suddenly going elsewhere or questioning their need for your services, that’s a warning sign. Make sure that you figure out what needs to be changed so that you can start bringing back the leads.
Although you can’t run off after every single opportunity that you find, if you’ve identified a real possibility for growth and new opportunity, it could be worth taking the time to consider. If it’s going to give you long-term results that include better business, it might be time to make a move.
In addition to profits, you also need to be sure that you’re getting a good return on your investment. When the ROI metrics aren’t delivering as you’d like, you should reconsider your strategies. That could include a simple pivot or it could mean a total business makeover.
People will always want to talk to your business about the important things. That is, if they feel like your business is worth talking to. If, however, you aren’t getting calls like you used to, it could be a sign that you need to shift gears and rethink your communications, at the very least.
What’s your mission? What does your company stand for? Do you even know? If your mission is unclear, it’s going to immediately give the impression that you’re unprofessional. In order to redefine your mission, it’s best to pivot and start fresh than to try to salvage what you’ve got.
If growth isn’t moving as you expect, or if it isn’t going anywhere, it might be time to do something about it. It can be hard to accept that things have stalled, but it’s important to embrace the opportunity for a change that can help your business succeed. A simple pivot in strategies could go a long way in changing your growth rate.
Another sign that your business is on the outs is if your company culture starts being affected and your employees are leaving for better opportunities. You should be the best opportunity for your team, so if retention is down, it might be time for a new approach.
If the company isn’t performing as it should, this could be an indicator that you need to think about pivoting the business and choosing another strategy. Slow growth or no growth at all could come from several causes, but if your business isn’t developing, it isn’t growing, and that needs to be rectified.
You’re going to have your hands full figuring out where to pivot and whether it’s time, so why not let us help you out? Our dedicated team of virtual receptionists will be there to field calls 24 hours a day, seven days a week, ensuring that you never miss an opportunity. Not only that, but in addition to our after-hours answering service, we also provide solutions for live website chat, appointment scheduling, lead intake, and so much more. It all comes with your own tailored strategy to manage every detail, too.
Not only that—we’ll also help with the outreach campaigns and outbound sales to generate the leads along with our solutions for lead intake, appointment scheduling, and more. Plus, it all comes with a tailored strategy to manage every last detail—what more could you ask for?
To learn more, schedule a consultation to discuss what the 24/7 virtual receptionists at Smith.ai can do for your business communications. You can also get in touch with us at email@example.com or (650) 727-6484.