Is It Time to Pivot? How to Recognize When Your Business Needs a Change

You’ve established your PVTV (Purpose, Vision, Tenets, and Values), refined your service offerings, built seamless processes, and executed a thoughtful new business strategy—yet, securing business remains a struggle.

What’s the issue? Are you doing something wrong? Or are you doing everything right, but the industry is shifting around you?

The Pivot Dilemma

I recently sat in a meeting with key decision-makers from a company ready to sign a check on the spot. They told me exactly what they needed, and while my team could have delivered, our current service offerings didn’t align perfectly. The opportunity was right in front of me, but we weren’t fully positioned to take it.

In that moment, I had two choices:

-Stick to our existing model and potentially miss out on new opportunities.

-Evolve strategically to meet an emerging market need while staying true to our core mission.

This is the reality of running a business: sometimes, success doesn’t come from executing the perfect plan—it comes from adapting to new realities.

How to Know When It’s Time to Pivot

The Market Is Telling You Something—Are You Listening?

If you keep hearing the same requests from potential clients that don’t align with your current services, it’s worth asking: Is this a one-off, or is it a trend? If multiple prospects are asking for something similar, there’s likely a market need waiting to be filled.

Your Current Model Isn’t Bringing in Sustainable Revenue

If your core offerings aren’t driving consistent revenue despite strong execution, you may need to reevaluate your business model. Sometimes, the issue isn’t marketing—it’s that the demand has shifted, and you haven’t.

You’re Losing Deals to Competitors Who Offer Something Slightly Different

Are potential clients excited about your brand but choosing competitors with a slightly tweaked offering? That might be a sign that a small shift—whether it’s in pricing, packaging, or positioning—could make a big difference.

You Have the Capacity to Expand Without Losing Your Identity

Pivoting isn’t about chasing every opportunity. It’s about aligning new opportunities with your expertise. If a pivot would force you to step too far outside your core strengths, it might be a distraction. But if it builds on your existing foundation, it could be a natural evolution.

Making the Pivot with Purpose

-If you’re considering a pivot, here are some ways to test the waters before making a full shift:

-Validate demand: Talk to your current clients and industry peers—would they pay for this new service or product?

-Run a pilot: Offer the service on a limited basis to gauge interest.

-Assess internal capability: Do you need new hires, training, or partnerships to deliver at a high level?

-Reaffirm your PVTV: Does this pivot align with your Purpose, Vision, Tenets, and Values? If not, it may be a detour rather than a strategic shift.

Final Thought: Adapt or Stagnate

The most successful businesses aren’t just the best at what they do—they’re the best at evolving.

If the market is speaking, are you listening?