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[av_heading heading=’Stick or Pivot? When is the RIGHT time to try something new?’ tag=’h1′ link_apply=” link=’manually,http://’ link_target=” style=’blockquote modern-quote modern-centered’ size=’40’ subheading_active=’subheading_above’ subheading_size=’20’ margin=” margin_sync=’true’ padding=’10’ color=’custom-color-heading’ custom_font=’#ffffff’ av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-kn4bxqsr’ admin_preview_bg=”]
Langpreneur Podcast – Episode 93
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How do you know if you should stick with your business or follow your entrepreneurial itch to try something new?
Perhaps you’re burnt out by all the work you’ve been doing, so the urge for change comes from a mindset problem? Do you have shiny object syndrome, or is it really time to pivot?
Questions to help you decide
- What’s out of balance in my work or life right now?
- Could I delegate things that I’m not enjoying?
- Would a business coach help?
- Does my business have traction?
- Do I have a competent team?
- Could the business currently survive without me?
Reasons to stick or pivot
- Diversification: If your business can run without you, now might be a good time to diversify. However, if you’re still the lynchpin and things fall apart without you, diversifying will only add more work.
- Entrepreneurial cravings: Creators get loads of new ideas, and sometimes they won’t go away. Decide how long it would take to see if this is worthwhile?
Set aside a defined time each week to work on your new ideas for a specific period, e.g. one hour a week for six months, and see where that leads you.
- Is your business working in its current form? If it has traction – signs of growth and engagement within your community – then pivoting away could be the wrong decision. If your business is sinking, then it may be time to try another tack.
Consider your mindset
You can solve most business problems with the proper mindset. Are you making level headed decisions, or are you trying to escape something else?
The extent of your honesty on these points will determine the quality of your decisions.
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