I’ve previously written about when it’s time to pivot in your business and how committing to the pivot can help you reach all new heights. I believe that there is a time to pivot and a time to focus on that shift, but I have seen firsthand how people have made the wrong pivots at the wrong times. I want you to avoid that sort of drama, which is why I’m talking about when it’s NOT time to pivot in your business
We all need to pivot and change if we want to grow and scale our businesses; that’s all part of the journey. However, there are times when I see people pivoting when they maybe shouldn’t be pivoting.
Here are a few reasons you should NOT pivot:
We’ve all seen those business owners who reinvent themselves every other month, or who change their business model because of “shiny object syndrome.” That’s not how to grow and scale. Every time you pivot, you’re going to need to take a step back for a bit, or pause, or slow down for a while. So if you’re constantly pivoting because you’re bored, you’re not going to grow as quick as you could if you just stay focused on one thing, on one offer. Some of you might be thinking, “But Kristin! You’ve pivoted three times!” The difference for me is that my pivots took place over the last 15 years. I stayed in one thing for about 5 years each time before I pivoted — that’s a lot longer than some people stay with their businesses or offerings.
I didn’t pivot because I was bored or just chasing the next, newest, shiny thing. I see this happen a lot with visionaries or people who have strong visionary tendencies. Enneagram 7s and ENTPs on the Myers-Briggs scale hate to feel boxed in. A lot of visionaries put out a new offer, change their niche, or completely pivot into a new business, and then — after a few months — it’s not new anymore, it’s not shiny, so they don’t see it through and they pivot…again. Then they wonder why their business isn’t growing! Spoiler alert: it’s because they haven’t kept at one thing long enough to grow it and make it successful!
But guess what: business can get a little monotonous at times. If you want to grow something, you’re going to have to keep putting it out there again and again. You’re going to have to refine it, tweak it, and make it better and better because that’s how you grow.
The same types who get bored with their businesses are the same types who have a lot of ideas. Obviously, that’s why they’re called visionaries. But not every idea deserves a business, and not every business is a good one. You should always be testing an idea with your potential market, asking questions, and exploring whether or not it’s viable before you decide to pursue it. Otherwise, you’re back to dealing with that “shiny object syndrome.”
We all do it. We look up from our work and look at what other people in our industry or niche are doing… and take cues from their success. Maybe we find out that they’re doing a lot better because they have this product or offer this service, and it can lead us down the pivot rabbit hole. But just because you’re comparing your business to another doesn’t mean you should pivot. The Joneses are real, even in business, but their grass isn’t actually greener than yours. They’ve probably just been watering theirs longer. So keep watering yours.
So if you’re thinking about pivoting in your business, ask yourself “Why?” Is it because you learned something new, found out someone else was doing something a different way, or because you want to chase that new shiny idea? As I mentioned above, those aren’t really valid reasons to start pivoting. In fact, they can hurt you more than help you.
However, if you feel you’ve taken a revenue stream, an offer, or a part of your business as far as you possibly can take it, it may be a good time to consider a change. You can hear more about that in Episode 46 of the Planning for Profit podcast, and I’m also offering a FREE live workshop, How To Stop Trading Dollars for Hours. If you want to pivot, and to learn more about how to grow and scale your business with multiple revenue streams, this workshop is perfect for you. You’ll learn my 6-step process for moving from feeling overwhelmed and stuck in a 1:1 service based business to tripling my revenue when I leveraged my expertise and experience into coaching, a course, and multiple other online programs. We’ll also be talking about how you can be better focused as you grow and scale, because it’s not about chasing shiny objects; it’s about growing where you are right now.
If you’re still trying to figure out your own pivot, I’d love it if you share your story. I’m active on Instagram @kristinckaplan, so find me there!