Navigating A Pivot Point

Pivot Points In Small Business

Making the choice to change direction

That critical time in every business has come for me. Do I stay on the path that I have been going or make a change in direction? This decision is always a very important one that should not be made on a whim. My old mantra holds true here: DO YOUR RESEARCH.

With my business, I started out just providing virtual assistant services which then expanded into customer service which expanded into marketing which expanded into social media management. All this expansion was done without really looking at whether or not it would benefit my business cause I was just happy to have work coming through the door. But, I have realized I have lost focus of what my business stands for. Is this where I want my business to go?

Than answer was a loud and resonating “NO”. This was not the direction I wanted my business to go when I started it, nor is it where I want to continue on going. So time for a major pivot point. The question then became “Which way?”. This was a bit more difficult to answer and took some major consideration.

I have decided to keep to the basis of the name RI Business Solutions. I’m changing my target market to a more local geographic region and plan on working with very small businesses (less than 25 employees). I understand their needs and have the experience to help them.

The services will be internet marketing including website development (including mobile sites), social media management, search engine optimization, and content development. This is the direction that the world is moving and it can be an overwhelming experience for the typical small business owner to undertake on their own.

The major difference this time for me, I am doing my due diligence in creating a business plan for this pivot change. I’m doing the research to make sure I understand exactly where I want to go, how to get there, and what I will need for the trip.  I have even contacted the local SCORE chapter for some guidance and input.

So hopefully this new plan will work out.

 

Falling into a new start-up….

Not sure if this has ever happened to anybody else… but I sort of fell into a new start-up this past week. A friend of mine was having problems with his PC and I offered to help him out. Then he called and said a friend that needed help with his laptop, which in turn he had some friends that needed help. Next thing I know I am opening up a computer repair business called Artic Computer Repair, hence the lack of a post for a few days.

I can not really complain cause my original company (RI Business Solutions) is staying afloat, but that is about it. Past couple of weeks I haven’t been able to gain any traction on getting new clients. So having this new source of income is a welcome addition.

Now though comes the hard part. Do I keep both companies running and split my time 50/50? Do I focus more on doing the computer repair and let the virtual assisting business just stay afloat the way it is? Or do I just put RI Business Solutions on hold for now?

I’m going to try and run both for a little while cause I do have some up with the Artic Computer Repair, but if it gets too busy I will have to make some tough decisions. I put a lot of hard work into RI Business Solution over these past 6 months and I would hate to have to let it go. But, in a sense, I guess I am at a pivot point in my life. I’ll have to choose a direction to focus on and go with it.

Pivot Point

A pivot is a “structured course correction designed to test a new fundamental hypothesis about the product, strategy, and engine of growth (WikiPedia- Lean Startup). It seems my business has made a pivot point on its own. I started out hoping to provide virtual assistance to small business owners, but it seems that providing customer service is my new market niche.

It doesn’t really bother me too much. Long as my business is growing then I am happy. I will be up to 2 contracts providing this service. I seem to be good at it and hope to hire my first employee in the next 60 days.

So I ask that you examine your own small businesses. Are you at a point in your business where a change in direction would be benefical? Maybe the signs that a change is already there, but you are fighting the idea cause it doesn’t “fit into your image”. My point is that you need to be flexible with your business. Be ready to change and follow the growth, wherever it may take you. Do not be afraid of change, sometimes you need to embrace it and learn from it. So take a good look at your business….you may find a gem in their someplace.

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