Thinking about pivoting your business?
Thinking about pivoting your business?
Read this.
Remember back when you started your business?
You were full of excitement, enthusiasm, and ideas for how to make your business grow and flourish.
But, like most good things, that doesn’t last forever. Owning a business is a rollercoaster, and sometimes it feels like there are a lot more downs than ups.
Maybe you’re feeling like you’ve outgrown your business, or maybe you’re feeling like you need a fresh start with something new. Regardless, it can be intimidating to take the leap.
But it could also be the big, freaking exciting change you’ve been looking for.
So what do you do when it’s time to make a shift? Let me share some thoughts about that.
I just went through this process myself, and as of last week, we’ve officially launched a brand new business model. But that didn’t come without a lot of thought, hard work, and a few (or many) scatterbrained moments.
Here are 4 steps to take if you’re making a big pivot in your own business:
Do your market research.
Before you take a big leap, make sure you do some research about the world you want to step into. Are there lots of similar businesses out there, or just a few? How are they doing? What sets you apart from them?
Re-budget your time.
Launching (or pivoting to) a new business while still running a current one takes time. Set up a schedule that allows you to work on both if needed. (Ex. Work your current business in the morning and your new business in the afternoon.)
PRO TIP: This is where outsourcing comes into play. Let your team focus on the current stuff while you pour energy into the new stuff.
Take baby steps.
It’s hard not to run full force into something new (especially when you’ve started a business before), but it’s important to make sure you get ALL your stuff together before a big launch. It might take longer to do that, but it’s worth it in the long run.
Reach out to your circle.
Your friends, family, and current clients are your biggest cheerleaders! Ask them to help spread the word about your pivot.
I’m going to be chatting live at noon CT today about the steps I took to pivot my business and how you can know if this is right for you, too. Grab your lunch and join me!