Pivoting: Navigating Change and Why It's Necessary

"Change is the only constant in life, and our ability to pivot defines our capacity to lead and succeed in a world ever in motion." - John F. Kennedy.

An ever-changing landscape of ventures, challenges, and opportunities constantly marks life. To successfully navigate this intricate path, the ability to pivot is not only valuable but often essential. Pivoting means adjusting your path, goals, or perspective to life or business-changing circumstances. In this article, I want to share my view and experience of pivoting in this article.

Understanding Pivoting

Pivoting is a term that has gained prominence in the business world, particularly in the realm of startups and entrepreneurship. It describes shifting a company's strategy, product, or market focus in response to new information or changing market conditions.?

But This is not limited to just business operations. Pivoting is an integral aspect of our lives as well. I heard the word "Pivot" several years back, but I have been adjusting my career path even before that without realizing "what pivoting is." It is not a new concept or management technique but the foundation of human evolution.?

Pivoting in Life

In the context of life, pivoting refers to the ability to adapt, change, and evolve in response to the various challenges, opportunities, and unexpected events that come our way. Life is a dynamic journey filled with uncertainties. Therefore, being able to pivot is not just beneficial but often crucial for personal growth, happiness, and success.

In my personal experience, switching from the most comfortable job at the largest IT company to starting a startup by sacrificing all Personal comfort is a big change and challenge. However, this change made me live my days the way I want. Pivoting may be challenging and unpredictable, but it is worth trying if the purpose is clear.

Why Pivoting Is Necessary

1. Adaptation to Change:

Change is an inherent part of life. Whether it's the loss of a job, the end of a relationship, a health setback, or a global crisis like COVID, our ability to pivot allows us to adapt to these changes more effectively. It's the key to surviving and thriving in the face of adversity.

Recognize that change is a natural part of life. Instead of resisting it, embrace change as an opportunity for growth and development.

2. Personal Growth:

Pivoting often requires us to step out of our comfort zones and try new things. It catalyzes personal growth as we gain new skills, experiences, and perspectives. When we pivot, we challenge ourselves and discover untapped potential.

Maintain an open mind and a willingness to learn. Be open to new ideas and perspectives, even if they challenge your beliefs.

3. Pursuit of Dreams:

Sometimes, life takes unexpected turns that can lead us away from our original plans. Pivoting enables us to redirect our efforts toward our dreams and aspirations, even if the path to achieving them shifts.

Define your goals and priorities, but remain flexible in achieving them. Be prepared to adjust your strategies as necessary.

4. Resilience:

Resilience is a quality that is closely tied to the ability to pivot. When we pivot successfully, we demonstrate resilience, bouncing back from setbacks and finding new ways to achieve our goals.

Define your goals and priorities, but remain flexible in achieving them. Be prepared to adjust your strategies as necessary.

5. Problem Solving:

Pivoting encourages us to think critically and creatively. We must develop new solutions and strategies to adapt to changing circumstances when facing challenges.

Mistakes are part of the pivoting process. Instead of dwelling on them, view them as valuable learning experiences that can inform future decisions.

Businesses made pivoting successfully.

Numerous companies have successfully pivoted their business strategies to achieve growth and adapt to changing market conditions. Here are a few notable examples:

1.?Netflix: Originally founded as a DVD rental-by-mail service, Netflix pivoted to become a streaming platform. This shift in focus allowed them to disrupt the traditional television industry and become one of the world's leading entertainment streaming providers.

2.?Amazon: Initially an online bookstore, Amazon expanded into a vast e-commerce platform, cloud computing (Amazon Web Services), and hardware development such as the Kindle e-reader and Amazon Echo devices. Their ability to pivot into various areas of the tech and retail industries has made them a global giant.

3.?Apple: Apple started as a computer company, but under the leadership of Steve Jobs, it pivoted to focus on consumer electronics, including the development of the iPod, iPhone, and iPad. This strategic pivot transformed Apple into one of the world's most valuable and influential technology companies.

4.?PayPal: Originally conceived as a security software company, PayPal pivoted into an online payment system. This pivot enabled them to revolutionize online payment processing and become a significant player in the fintech industry.

5.?Nintendo: Nintendo, a renowned video game company, shifted its focus several times. It started as a playing card company and then pivoted to toy manufacturing. It eventually found its niche in the video game industry with iconic products like the Nintendo Entertainment System (NES) and the Game Boy.

These examples highlight how companies can pivot their business strategies to stay relevant, adapt to changing market dynamics, and achieve significant growth in their respective industries. Recognizing and acting on new opportunities or changing customer needs is a key driver of business success.

How Factana handled the change and challenges by pivoting

We originally started Factana as a "Cognitive IoT Company," focusing on providing an IoT Platform as a Service. We intended to make IoT technologies as simple and affordable. After spending more than two years building the entire Fogiwng Industrial IoT Platform from the ground up, we gained customers from every continent. But, we felt we were delivering half-baked cakes to our customers by providing technology capabilities but not solving the actual business problem.?

We decided to solve the business problem for manufacturing industries by providing business software automated through IoT capabilities. Even though we changed our focus from IoT platform provider to Industrial Software provider, we still leveraged our investment in our IoT Platform as a foundation for our Fogwing Industrial Cloud . Today, we have six industrial software systems that solve various business use cases for our industrial customers.

This decision to pivot into Industrial Software made Factana differentiated from other IoT provider crowds. Today, we have more customers and users in our Industrial Software.?

Conclusion

Pivoting in life is not a sign of weakness; it's a sign of adaptability, strength, and resilience. By embracing change and learning to pivot effectively, we can overcome obstacles, seize new opportunities, and steer our lives toward our dreams. Remember, life is a dynamic journey, and the ability to pivot is the compass that helps us navigate it successfully.

If you are ready for change, all the very best!