How To Know When To Pivot Your Business? | Corporate Lab

How To Know When To Pivot Your Business? | Corporate Lab

Every entrepreneur loves their startup, but sometimes a change is necessary. Losing customers, employees, or suppliers can be a sign that a pivot is needed. Stagnant growth, lack of motivation, and spending too much time putting out fires are also indicators that something needs to change. It is important to be obsessed with key performance indicators (KPIs) to determine negative trends in turnover growth, efficiency, and profitability. Being bored can also signal the need for a pivot. It is important to remain nonconformist and strive for exponential growth.

View

More Innovation Resources:

Do you have plans or planners?

Planning is vital for both innovation and strategy. While plans may be useless, planning itself creates value.

View

The yin yang of innovation understanding

Yin and yang are opposing yet complementary forces that play a crucial role in innovation. Recognizing this dual force can help manage the tensions and balance that innovation needs.

View
4 inspiring ways the most innovative organisations use co-creation -

4 inspiring ways the most innovative organisations use co-creation -

Co-creation and collaboration are becoming embedded in the business strategies of leading global companies, with 61% working with suppliers and 58% directly with customers, according to a survey by Innovation Leader. Successful collaboration offers huge benefits and is key to staying relevant in today's market.

View