Do I have to change everything before I can save my business and make it successful?
“This was meant to be a business that makes beds.Moses*
That was the plan, when I first started 3 years ago.
Long story short, we weren't making enough profits.
So, I pivot.
I had to make changes and so, I changed everything.
We changed from making beds to making tables and chairs for restaurants.
It wasn't easy.
I lost money and time, but I had to. I needed to make that change.
It really took some time for people to see our new products.
But, things improved after they did.
Our clients loved the designs and we sold a lot of products.
But again, things are not working too well.
We're still barely making any profits.
Right now, I'm thinking of changing to cabinets and desks.
But I don't want to go through what I went through the last time.
Besides, I will also need another loan to buy some new equipment, materials and for other things.
I'm just tired and not ready for a whole new change or direction.”
Carpenter and Owner of a Furniture Making Business.
“For almost six long months, we barely sold anything.Elizabeth*
Suppliers were on my back and I haven't paid my utility bills for months.
I was way way behind on my loan payments.
On top of that, two of my top guys left me and I also had to let go of all but two of my apprentices.
I couldn't afford to keep them.
It was so bad, that I just wanted to change everything and do something else.
But, I was lucky that I didn't.
Actually, I consulted a business expert and she helped me.
She carefully reviewed my situation and made me realized that, I only needed to make a few strategic changes.
It turns out, I only needed to negotiate a better deal with my suppliers; raise prices on our dinner sets; and promote our brand better.
I didn't need to change my whole business.
So we made those few changes and see me now.
I'm still going strong and thriving.”
Potter and Owner of a Small Pottery Business
*Names in this article have been changed.
When to pivot or make a change, always depends on your situation.
And, as we all know, situations are always changing in business – especially good situations and good times.
Nothing ever really lasts forever.
So, you must always be willing to pivot or make changes whenever things become tough and not working anymore.
This also means that making changes or pivoting is not a one-time fix.
It’s something that you will need to do over and over again.
So you can’t just keep changing everything every single time you need to pivot.
It’s not practical.
“it’s depends on your situation“
Yes, most business owners do believe that pivoting involves completely changing everything.
But that’s not always the case.
Sure, many businesses became successful after changing everything.
But once again, it depends on your situation.
Your situation decides whether you need to change everything or not.
After all, it takes time and resources to make a pivot successful.
Like what Moses went through when he first pivoted by changing everything.
It’s not easy and also very frustrating.
So, if your situation doesn’t demand a drastic change, then it would be a very bad idea to do that.
Besides, not everything in your business is poor or not working.
“oftentimes, it’s just one important problem“
Sure, your business might be struggling.
But that doesn’t mean everything you’re doing is bad or everything is the cause of the struggle.
Oftentimes, it’s just one important problem that’s causing your business to struggle.
It’s that one problem that needs to be changed, not your whole business.
And even if you do need to change everything, it’s not wise to drastically change everything.
There are still some good parts of your business that you can salvage, keep and reuse on your new direction.
Parts that you’ve already spent much time, energy and money to develop.
“find the source of the problem“
Look, when you don’t fully understand your situation.
Or, when you don’t know why you’re struggling, it becomes easy to think that everything must go.
It even becomes easier to rush into making changes, when you don’t even actually need to pivot.
So, take the time to properly review your situation to understand your problem better.
And just as always, you have to first find out the source of the problem.
Look into what’s causing your business to struggle.
Now, when you find the problem, ask yourself these questions:
- 1. Can I solve this problem with more time or more money or more research?
- 2. Can I solve it better and faster with the help of a professional or someone with experience?
If the answer is “no”, and you really can’t think of any solution, then you should go ahead and pivot.
Better yet, just consult a professional or a mentor, if your business is struggling.
Do that, before you even try to pivot or make a change.
Small To Sprout 