15 Jan What is Pivoting and how does it work?

What is Pivoting and how does it work?

Pivoting is about making a change – it may be any numbers of things, including your business model, direction, products and services, delivery methods. When you are thinking of making changes to your business, begin start with WHY?

In understanding the “why” will result in a clearer and direct approach that should lead to better benefits.

The next step is to ask your clients some clear and open-ended questions, such as the following.

• What do you like about doing business with us?
• What don’t you like about doing business with us?
• What would you like us to do that we don’t currently do for you?

These three simple questions can open the door to some real gems. The first question is not about getting praise for the goods or services that you supply or deliver. It’s more about not changing things that the majority of your clients enjoy or like about what you do. The second question is where often you will find small things that make a difference and often cost very little or nothing to change, that can have a positive outcome. The third question, is where some hidden gems can be found.

We work in our business every day and often only see our business from our perspective. Crossing over to the other side of the counter, desk or outside our shop front helps us to look at our business from our client’s point of view. This is one of the key factors to consider when you want to change your business and reduce the risk of failure.

Stay focused on delivering ‘Value” to your clients; understanding their pain points can help you discover opportunities that you may not have ever thought of.

Article contributed by Anton Pemmer, Business Advisor, SRBEC

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