Whether big or small, all businesses go through change. In an unpredictable marketplace, the ability to adapt separates success stories from cautionary tales. In defining how businesses adapt to change, Eric Ries ("The Lean Startup") coined a concept that he named "pivoting." According to Ries, and many experts agree, every business reaches a point where it must make a choice to pivot, persist, or just pull the plug! When you choose to pivot, you position yourself to take advantage of market trends and respond to customer feedback. Yet, despite the benefits of pivoting, it can be tough to know when you need to take your dream business in a new direction. Read on to discover the tell-tale signs that it's time to take a fresh approach in your business operations. Competition is too stiff No industry is immune to competition, and if you feel that you are struggling against stronger rivals, maybe it's time you pivot. When you started your business...
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