The Art Of The Pivot presents a 4-step framework, designed to ease the process of rethinking an outdated business model and to ensure ongoing success.
The Art Of The Pivot is a 4-step template for looking at your current strategy, reaching an inflection point that makes you reflect on your business and core assets, as well as finding and testing pivot options to change your business strategy to achieve future success. Pivoting includes a fundamental change in many aspects of how your business runs and operates. This template guides you through the challenges of a pivoting journey towards finding and testing a few solutions.
Step 1: Trigger — What has changed and why? Every pivot starts at an inflection point. Circumstances have changed, and our old strategy does not work anymore. The reasons for that can be myriad, yet it is critical that we think through them in a structured manner.
Step 2: Anchor — What are your core assets? Every pivot happens around an anchor point. A pivot changes certain parts of a business, yet keeps on leveraging others. Those are the anchors that will form critical assets in the new strategy.
Step 3: Options — What pivots could you make? Before moving into creating new strategies, we first want to get the creative juices of the group flowing. We will need people to think very differently from the way that they are thinking at the moment. Therefore we need a warm-up and transition exercise to prepare the mind.
Step 4: New Angle — Work out your options and test. In this final section, we bring it all together. The goal here is to develop three concrete directions that could potentially be the new strategy and find ways to experiment with them.