Finding the path to future growth

Strategic Pivot

Businesses become stale if they aren’t continuously reinventing themselves. Ideally, this process is one of constant evolution. However, in practice, most businesses find themselves so focused on maximizing their existing core business, they fail to venture out into new directions. The failure of a business to discover and pursue a “strategic pivot” for future growth, can have devasting effects on the long-term viability of a business.

Too often, the need for a strategic pivot only becomes apparent during a crisis. The CEO, preoccupied with keeping the ship from sinking, lacks the bandwidth to identify and pursue a shift in the strategic direction of business. Having an experienced executive on your side, that has developed and executed multiple strategic pivots can greatly accelerate the transition, while reducing the risk to the business.

Tech B2

Discovery Phase

The first phase of a pivot is to explore possible business directions that can yield the growth and profitability desired for the business. This discovery phase generally exposes several possible paths, with associated risks and costs. This phase typically lasts 3 to 6 months.

Manufacturer H2

Experimentation Phase

This phase initiates some testing of the business model while gathering market data and feedback to validate assumptions identified in the discovery phase. This phase can take anywhere from 3 to 12 months.

Planning A2

Execution Phase

This phase is the building of a new business, often inside of an existing business, that pivots the company in a new direction. The existing business continues to run, while the organization is evolved into the new business model. This phase has a high-intensity start-up, followed with ongoing monitoring and adjustment that can last 12 to 36 months.