Pivot

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Pivot is a term used in dance or gymnastics to describe a rotating movement. It has also been used during the COVID-19 pandemic to describe businesses that are rotating their offer to new opportunities.

So how do you pivot you ask?

Well as in sport, you’ll need a strong core, and that is about doing the work. Conducting a market and business assessment will give the first scope of available options. The best options for development will be those that tick three boxes:

  1. they address an unmet consumer need

  2. they leverage existing, or easily obtained strengths

  3. they deliver benefit

Just like physical pivots, business pivots require momentum - speed and strength, to complete the rotation. While being the first to market will give an early gain, it will be critical to maintain momentum to sustain a competitive advantage. There have been some well executed pivots in the past few months - and while time will tell if they are sustainable, they have already ticked the benefit box in many ways. Here is one of my favourites.

stage kings

Stage Kings are industry leaders in designing and building custom stages and event structures - some of the largest in Australia. And then came COVID. Within 48 hours their entire job list for 2020 (and beyond) was cancelled and they were faced with making massive and instant cuts to their business… or… they could do what they do best and get creative. The result is Iso Kings… super-simple but beautiful work-from-home desks that are flat packed and delivered directly to home.

  • They identified a consumer need - realising that tens of thousands of Australians would have to start working from home with immediate effect.

  • They leveraged their strengths - using their CNC router (specialised cutting machine), large and well-kitted out warehouse, and unbelievably talented team

  • They realised a benefit - in their own words “It’s been good for business, great for morale, and has kept us afloat and busy during some strange times”

…and that’s how you pivot.

Let’s talk about your opportunities both in and out of COVID times.

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