Create Your Own Quick Thinking Business Pivot Formula in 5 Easy Steps
Customers have asked for a quick Business Pivot Formula they can use to describe and explain what is about to happen in their business. They requested a quick (and fun way) to involve their employees and customers. I added the (fun way) to their request to lighten the presentation of a "formula."
To the right is a definition of business pivot.
Conscious(ly) ... Communicate ... Commitments
And so, a Business Pivot is about all stakeholders readiness and willingness to Consciously Communicate Commitment(s)
Business Pivot ... is a conscious, organizational-level realignment all stakeholders communicate through the commitments they make and keep.
Quick Thinking Business Pivot Formula
Herein is where a Quick Thinking Business Pivot Formula is useful. Especially when you create one to situate your business pivot situation.
My quick formula ...
to guide your development of your 5 Step Formula.
As you read through the post, create your business pivot formula.
Are you using Sense, Calculation, or Both to get perspective of your Business Pivot?
Sense - tapping into your gut feelings ... listening to the words all stakeholders are using about the Imagined Future compared with your current reality ... tapping into the background conversation in the white space of your organizational chart
Calculation - tapping into the numbers and formal evaluation data obtained from stakeholder assessments, surveys, and questions ... tapping into the = foreground conversation along the lines and in the boxes of your organizational chart
Both - tapping into a combination of Sense and Calculation to identify insights. In doing so, you get perspective of the whole system - whole person story = invaluable!
- Review the ways you gain perspectives of your business
- Enhance the ways you collect data for information development
- Determine if your data collection tools and techniques are valid (grounded and reasonable) and reliable (dependable and trustworthy)
Get clear about the misalignment prompting your decision to pivot.
Are you seeking to:
Answer a BIG question e.g., moving from local along the continuum to global delivery
Satisfy a craving e.g., expanding from product/service delivery to offering experience
Solve a problem e.g., customer numbers are decreasing
Eliminate a pain e.g., upgrade the technology support platform
Extend an appreciation e.g., it's working in store 1; what about store 2-5?
Save an irrational passion e.g., initiate support of our philanthropic program NOW
? (idea to add)
- Determine the misalignment story you are dealing with
- Confirm the misalignment story with all stakeholders
- Clarify additional elements of learning about the misalignment (dig deeper: in the sense of the "detection and correction of errors"
You have a business pivot decision to make.
Now, get support to make the decision. And, make the decision according to the criteria for win-grow success for all stakeholders. Plus - use ethical decision-making tools and techniques.
Of importance = ethical decision-making! To do otherwise, more people navigation than necessary or required!
- Identify your Business Decision Advisory Group (suggested stakeholder representation - can use two levels of group support: primary: e.g., experienced employees, advisors, investors & secondary: e.g, current customers, past customers, future customers)
- List the win-grow success measures (what you measure gets done)
- Manage decision making using an ethical standards framework
Because of your decision making you'll identify the action_outcomes you'll use to ensure course corrections to get results. The choice of action verb and noun phrase (outcome to be realized) is IMPORTANT.
The action verb highlights transparency and the outcome highlights justification of results you'll realize through course corrections. These corrections are in pursuit of your realignment - a successful business pivot.
In addition the action_oucomes...
_identify the Learning Contract for those who are required to update/upgrade their knowledge, skills , and attitudes (to become competent)
_identify the Accountability Agreements assigned to make IT happen!
_identify the Education Support for learning contracts and accountability assignment
_identify the Bottleneck (system squeeze) and battlenecks (stakeholder challenge) ahead
- List the action_outcomes to move forward
- Clarify accountability assignment with authority by action_outcomes
- Manage the learning-educating program supporting all action_outcomes (no assumptions - suggest: manage via competence verification)
As you move forward implementing/executing your learning contracts and accountability agreements, you'll experience the realignment, evaluation, and valuation of the business pivot as you get movement/profitability.
Realignment: compared with where you were before the business pivot, to where you are now - the difference is transformative. Otherwise, the pivot is transactional and more about tweaks of what was. Not a business pivot!
Evaluation: there are clear improvements and identification of additional improvements because of the measures used.
Valuation: because of the business pivot you can explain and describe
_the development to implementation success (value of utility); _determine the return on
_the resource allocation of time, effort, and money (value of worth); and,
_the significance of the business pivot to all stakeholders (value of truth).
- Manage your anticipated movement outcomes (transformational story and direction)
- Manage your anticipated profitability outcomes (money, ideas, network, engagement, legacy)
- Celebrate - wash, rinse, repeat
Create Your Own Quick Thinking #BusinessPivot Formula in 5 Easy Steps - use our generic template to frame your formula @WellthLearning
A #BusinessPivot has all stakeholders ready, able, and willing to Consciously Communicate Commitment(s) @WellthLearning
Are you using Sense, Calculation, or Both to get perspective of your #BusinessPivot?
Sense - tapping into your gut feelings ... Calculation - tapping into the numbers and formal evaluation data @WellthLearning
Are you clear about the misalignment prompting your decision to #businesspivot? Like: Solve a Problem. Answer a Big question. Eliminate a pain. @WellthLearning
Have you asked for all stakeholder support to identify your criteria for the win-grow #businesspivot decision? Are you using ethical decision-making tools and techniques? @WellthLearning
Have you identified the action_outcome statements necessary for managing course corrections to realize the #businesspivot realignment? @Wellthlearning
With a successful business pivot you'll experience realignment, evaluation, and valuation of movement & profitability - Are you ready, able, and willing to create your #businesspivot formula? @Wellthlearning
The post contains 5 Easy Steps to Create Your Own Quick Thinking Business Pivot Formula.
In doing so - you have a blueprint - a map - a design - a layout to guide your business pivot movement to realize the profitability you imagined (and more).
The key word here - "quick thinking." Because the Business Pivot Formula you create is the touchstone - reference you use for every correspondence, meeting, press release, and confusion moment.
And let the creation and use of this formula be fun. It's an evolving tool developed through the UPS and downs of your business pivots.
Your suggestions are welcomed... see the Comments section at the END of this post:
Manage and Lead the Organization of Work Using the Wiggly-T Dance Model
eBook ... Dr. Stephen Hobbs
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Are you an entrepreneur operating a small to medium size business with employees or an entrepreneurial mentor - facilitator - coach - consultant, & you determine...
It's Time to Make an Extraordinary Business Pivot to Deliver Your Products, Services, and Experiences in Smarter Ways, to Larger Audiences, with Better Conversion and Completion Rates?
Business Pivot is a conscious, organizational-level realignment all stakeholders communicate through the commitments they make and keep.
And, your personal commitment to the business pivot begins and continues from the point where and when you communicate accountability for your action_outcomes.
When you work with WELLth Movement, we guide you to Map, Manage, and Measure Your Business Pivot for Delivery of Your Products, Services, and Experiences on a Local - Regional - National - Continental - Global basis!
Use our Integrated Management-Leadership System to obtain accredited ISO certification combined with customer and employee competence verification.
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