Business Owners & Entrepreneurs Podcast With Peter Boolkah | Business Coach | The Transition Guy®

Business changes are not always good. That’s why it’s important to know when to pivot your business and when not to.You see, “pivot” is probably one of the most overused, overrated words of 2020. When the pandemic hit, everyone said “you've got to pivot.” The problem is, I saw too many businesses become unfocused because they were just changing out of pure panic. When you've got no data, how do you know what you're pivoting to? Of course, some businesses had no choice but to pivot for survival. But it's important to think about the long term consequences that may occur when you pivot your business. Any business changes that you make now are going to affect the trajectory of your business.I recently did some work with a company, and their board had told them to diversify. I asked them what their market share was. When they told me they had under 5 percent of the market share, I was floored. When you have only 5 percent of the market share, it shows that people out there don't know abou