Ep# 127: How and When To Pivot In Your Business
We spend a lot of time talking about the importance of niching down in business. And while this is a great way to become known and respected as an authority, I want to play devil’s advocate a little bit in this episode: When we niche down, are we actually pigeonholing ourselves into only being able to talk about one thing?
When all of your content is focused around the one topic you niched down to… Can you launch an offer that isn’t about your typical focus? Or would that distract and confuse your audience?
When is the right time to pivot, if at all?
If you’re anything like me, you have an entire bank of ideas in your brain that you’re dying to turn into something, but you’re not sure how, or when, or even if.
So today we’re talking about how to pivot in a way that is in alignment with your brand, in a way that speaks to your audience and doesn’t screw with the bottom line.
In this episode, we chat about:
Being a creative
I’m a creator, and when I’m not creating I feel myself starting to squirm in my seat. Left to my own devices, I would likely have 25 different courses, 14 podcasts and I would coach people in everything from business to how to master your jump shot.
My team is my anchor. They know how to temper my wild ideas so I don’t just live in a constant state of creation, and I trust them because they know my vision and my goals. They are great at helping to ensure that what I am creating actually supports that vision.
Questions to ask yourself before you pivot your business
Start by getting really clear on the answers to these questions:
Why are you making this pivot?
Is this idea actually a pivot, or is it just a byproduct of your growth as a business owner?
Are you just distracted because you didn’t get quick results on your current focus so you’re feeling impatient and blaming the focus itself?
Are you an idea engine (you get new business ideas every week, but quickly move on from acting on them)?
Is this a part of your masterplan (a rollout that makes sense for the longevity of your brand and vision)?
Does it fall under your brand’s umbrella? Will it make sense?
How to start pivoting in your business
market research, content, messaging, lead capture, nurture sequence, tripwire, expert positioning, advertising, offer
Take a pulse on the market - will you need a new audience or is this something your current audience/clients want?
If you think it could benefit your current audience, go for it! Begin to weave your new idea into your current content gradually. This will allow you to test it out and get your audience used to it, rather than leading with a big launch that confuses the heck out of everyone.
If you get a positive reaction from your initial testing, begin to weave it into your overall brand messaging. Include it on your website, in your bio, and consistently in the content your push out.
Test a lead capture (an opt-in) around this new topic or focus to begin to build an even larger audience for your new offer
Nurture your audience and keep a pulse on your metrics. Compare your open rates to previous open rates to see how your audience is responding.
Test out a tripwire based on your new idea with a current successful offer
Start tapping into expert positioning around your new idea: start a podcast, pitch yourself to be interviewed on other podcasts and groups
If all signs point to “well received”, start to create an offer around your new idea!
Pivoting does not mean failure. It can mean growth and expansion if you’re doing it at the right time, for the right reasons, in the right way.
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