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In this episode of Business Growth Hacks, Andrew Brockenbush and John Fritzsching tackle the essential skill of pivoting in business. They compare pivoting to shifting gears in a manual car, explaining when to recognize the need for change, how to approach a pivot, and ways to manage the speed and control required for smooth transitions. With tips on avoiding common mistakes and making mid-course adjustments, this episode is a must-listen for anyone considering a new direction for their business.
Key Points:
[0:31] - Recognizing the Need to Pivot
Andrew and John discuss how to tell when it’s time to pivot, like noticing "engine" signals in a business such as flat sales or market changes.
[2:29] - Making the Shift
Pivoting needs intentionality. Half-hearted attempts can lead to stalling, so the hosts emphasize fully committing when making a significant shift.
[3:28] - Avoiding Over-Acceleration
Going “full throttle” can lead to burnout and confusion. Managing speed is crucial to avoiding mistakes and giving changes time to gain traction.
[4:34] - Mid-Course Adjustments
Pivots often require adjustments. The hosts talk about using data to refine strategies without abandoning the shift entirely.
[5:16] - Committing to the Pivot
Constantly shifting gears without giving time to settle can stall progress. They stress the importance of riding out a pivot to see its full impact.
[5:41] - Balancing Speed and Control
A successful pivot balances speed with control. Rushing into changes without measured steps can lead to errors, while moving too slowly risks missing opportunities.
[6:01] - The Importance of Data
Using metrics as an “RPM meter” allows you to gauge the effectiveness of a pivot and make necessary tweaks without losing momentum.
Quotable Moments:
[0:56] “Just like driving, pivoting in a business takes practice. You won’t always get it right the first time.” – John Fritzsching
[3:09] “A pivot needs to be intentional. Without full commitment, you might stall your business.” – Andrew Brockenbush
[6:01] “Once you’re in the right gear, enjoy the smooth ride and let the pivot do its job.” – John Fritzsching
Links Mentioned:
Pivoting is a powerful strategy for growth, but it requires timing, commitment, and control. Recognize the signs for a shift, make intentional changes, and give your pivots the time they need to succeed. Tune in for more business insights, and don’t forget to leave a review if you found this episode helpful!
