As both mothers and entrepreneurs, we are all familiar with the ever-changing life stages that we go through in our lives, families, and businesses. These stages are often defined by our children, their ages, our businesses, careers, our ages, and other circumstances. And, of course, these all very much have a tendency to impact one another.
When to pivot
So, how exactly do you determine when to pivot? Consider if you or your business have needs or goals that are not being met for any reason. Have you noticed a steady decline in new clients or your profit margin? Remember that your entire reason for having established goals and KPIs (Key Performance Indicators) in the first place was to be capable of tracking and measuring them. Then consider possibly why you are not achieving them. This is the signal that it is time to pivot. You just need to determine what to pivot for your business specifically. Some of the most common and effective can be:
- Changing your target audience: Sometimes after many years of working with a certain demographic, you naturally gravitate toward another. This isn’t something to pull away from, but rather something to embrace. It is very important to be super clear about who you are specifically marketing to as to not waste time or resources marketing to whom you have always marketed to instead of who you should be.
- Changing your niche: Have you found that your products or services seem to hold a lot more value to another niche or category than you originally intended?
- Changing your business name: Does your business name still reflect your primary products or service offerings or have those changed since your businesses establishment? Does your business name still serve you and your zone of genius or does it unintentionally wind up minimizing you and putting you in a box where you don’t necessarily belong? Though changing your business name or branding can feel like a scary jump, especially for established companies, remember that your clients who already value you will follow you, but new clients can be more aligned with your current value.
There may even come a time that you decide you are truly interested in selling your business entirely and making a much, much bigger pivot. Maybe you want to start another company that you feel will allow you to be more intentional about your gifts and your long term life goals. The need to pivot is certainly not always out of desperation or a big event in your life. Having to make a change or pivot is not something to be afraid of or avoid altogether, it is simply being a responsible mompreneur and staying ahead of the curve!
Thinking about a big change? Not sure where to start? This is where I can help you as a coach. Contact me today for a free discovery session and let’s find out if coaching is right for you!