Xpansion Code Radio

Know when to pivot

Episode Summary

What is "Pivoting"? How to know when you should pivot in your business? How to pivot you business effectively?

Episode Notes

What is “Pivoting”?

• Pivoting is shifting to a new strategy in your business
• A new strategy could be changing your pricing
• A new strategy could be focusing on a different profit center
• A new strategy could be adding a new profit center
• A new strategy could be removing a profit center
• A new strategy could be focusing on a different set of customers
• A new strategy could be changing your marketing and advertising

How to know when you should pivot in your business.

• Industry Trends
• Your Company is Always Playing Catch-Up
• There’s Too Much Competition
• Your Company Has Hit a Plateau
• There’s Limited Response from Your Marketplace
• One Thing Gets the Most Traction

How to Pivot your business effectively

• Do it as soon as you can
• Listen to your customers
• Don’t scrap thing that are already working for you
• Create new systems and procedures or revamp some of the old ones
• Make sure your pivot presents opportunities for growth

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I will be releasing new episodes every Monday, Wednesday and Friday!