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What does “pivoting your business” mean and why is everyone talking about it? - Fab Giovanetti


These days, the word pivoting is everywhere - and it refers to your business.

As per the Oxford dictionary,can also mean “depend on”. In the current climate, everyone and their mothers are recommending businesses to pivot. 


There is a good reason for it - people that are able to adapt quickly are the ones who will survive (and subsequently thrive). 


Some people will need to pause their businesses, do cuts and streamline, and that is okay. However, we have witnessed some incredible adaptations from some amazing businesses (and we have done the same). 


In the past week, Creative Impact has been working incredibly hard to make sure our company is fully aligning with this new direction.


Here are two questions that can help brands and businesses pivot during uncertain times.


What do customers and current clients need the most right now?

This question will help you think about how you can fill the gap and support your current customers. For some businesses and entrepreneurs, this means taking their current products and making them available in a different format.


Does your pricing structure or your core product need to change, even if just for a temporary period?

Adapting is key, and you may feel like it’s impossible to go from offline to online or to cater to more clients, for a smaller price point. I totally get it. 


Yet, by taking time to really dig deep into what you offer, and how you offer it, you can find creative ways to offer what you only can offer in a brand new exciting way. What are you uniquely positioned to offer, especially right now?


You may have a skill or a niche that makes you uniquely qualified to offer certain skills. For this example, I decided to bring in our company, Creative Impact.


Our company supports creatives wanting to grow their businesses via digital marketing and online products, so the set up of the company was already heavily based on online courses and membership. 


As the nature of the company is remote and running online, we have decided to introduce more ways to learn during this time of social distancing. 

From the March 30th, we’ll be kicking off weekly educational and wellbeing online events (6 weekly events across our membership and social accounts). 


We’re also releasing a new collection of templates for creatives and small businesses, as well as digital masterclasses free for our members, with a "pay what you can option" as well as a small fee for everyone else.


Finally, we’re planning a free online conference on April 9th. The results are speaking louder than words: we have seen a rise in website hits since the announcement of the live events (+10%), plus the online conference is already counting 500 attendees! 


Our membership platform also sees a 30% rise in time spent on it on average based on the last week.


Summary

There are three questions you can ask yourself when looking to pivot your business:

  • What do your customers and current clients need the most right now?

  • What are you uniquely positioned to offer, especially right now?

  • Does your pricing structure or your core product need to change, even if just for a temporary period?

Taking time in the next few weeks to really focus on these questions can make a difference in the way your business grows and evolves.



About Fab

Fab Giovanetti is a writer, published author, marketing consultant, founder of the Creative Impact Group and professional sloth-lover. For over 8 years, she has helped thousands of people grow their online audience and monetise their online content and unleash their potentials as creatives. As the CEO of a remote company and multi-passionate entrepreneur, she has been studying the science of productivity, habits and work efficiency for years. In her upcoming book, Reclaim your Day Off, she explored how she halved her working hours (from 60 to 35 each week) and learned that more and more people are looking to do the same. 



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