Steps To Take When You Need To Pivot In Business

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The Importance of Pivoting and Adapting: Insights from the Friday Morning Mingle

As an entrepreneur, it’s essential to embrace change and adapt to challenging circumstances. In the latest episode of the Friday Morning Mingle, hosted by Audrey Bell Kearney and sponsored by the Gwinnett Women’s Chamber of Commerce, women entrepreneurs share their experiences and discuss the reasons behind women’s fear of technology. This article delves into the key takeaways from the episode, highlighting the significance of pivoting in business, reflecting on past experiences, and building a supportive community. Let’s explore these insights further.

Evaluating Profitability and Personal Factors before Pivoting

One of the topics discussed during the Friday Morning Mingle was the concept of pivoting in business. Leticia Smith, a founding partner of the Gwinnett Women’s Chamber, shared her experience as a CEO and founder of Premier Tax and Business Solutions. She emphasized the importance of evaluating profitability and personal factors before making any changes in your business. Pivoting should not be mistaken for quitting. Instead, it’s about assessing your business and making adjustments that promote growth.

Pivoting can take different forms depending on individual perspectives. It involves evaluating different aspects of your business and aligning them with profitability and personal happiness. Exploring new income streams, such as writing a book, can be an effective way to pivot and create passive income. Regular business audits also help identify unnecessary expenses and streamline operations. Writing a book can also serve as personal therapy and a form of pivot. However, it’s crucial to remember that any pivot should align with your goals and bring you closer to success.

The Role of Reflection and Accountability

Entrepreneurs often get focused on building their businesses and forget to reflect on the challenges they faced along the way. Reflecting on past experiences is not only beneficial personally but also professionally. It allows you to adapt and grow amidst changing circumstances. Being open to change and avoiding unproductive routines is crucial in maintaining success. Additionally, creating accountability within a community or group can provide support for staying on track and achieving your goals.

Collaboration and support from others significantly impact success. Creating content, such as podcasts, videos, blogs, and newsletters, helps enhance your brand and reach a wider audience. Establishing an online presence is essential for easier access by potential customers. Pivoting extends beyond business, as illustrated by restaurants during the COVID-19 pandemic who shifted operations to survive. Being prepared for regular changes is essential for business growth. Learning from previous experiences assists in effective pivoting for business success. Planning, clear goals, and adaptability are vital in navigating the business world and beyond.

Inspiration, Empowerment, and Self-Care

Life as an entrepreneur involves constantly pivoting and adapting to face challenges. Rather than giving up, it’s crucial to explore ways to improve and make changes. The Friday Morning Mingle also discussed upcoming book signings and the launch of the influencertour.com website, which provides information about upcoming events for the next 12 months. The goal of the Influencer Tour is to inspire one million women worldwide to pursue their dreams and passions.

Engaging in activities like tapping, journaling, technology, media, financial management, and physical health enhancement contributes to personal growth. Reading books written by successful women can bring joy and relaxation. The Gwinnett Women’s Chamber has achieved tremendous success in a short time, focusing on community involvement and empowering women in business. Staying updated with local events can be done by signing up for newsletters or visiting community websites.

In conclusion, being willing to pivot in business and adapt to changing circumstances is essential for sustained success as an entrepreneur. Reflecting on past experiences, creating accountability within a supportive community, and building an online presence are crucial steps in enhancing your business and personal growth. Remember to embrace change, stay focused on your goals, and seek inspiration from influential figures in your industry. By adopting these principles, you can navigate the business world with confidence and achieve your dreams.