Every business leader eventually faces the challenge of reaching a crossroads and deciding then what to do next. This crossroad may happen with projects, products, or even your people. Those moments beg the question: Are we making sufficient progress to continue with the current plan (or person), or do we need to change direction? For some, the decision is easy because you have no choice but to change. For others, it’s more complicated. If you decide it pivot, you’ll have to navigate changes, but these changes may be the key to unlocking your organization’s potential growth.
In this episode, we are talking about how and when to pivot in your business with Brian Riley, the co-founder and CEO of Guardian Bikes, a Mark Cuban company. He will share how he made shifts in his organization to create more value for consumers and more cash for the business.
Plato famously wrote, “Necessity is the mother of invention.” Plato’s quote differently rings true in the story of Guardian Bikes, which had to eventually modify their business model if they hoped to grow and keep their business alive. However, before you recognize the necessity to change, you will likely feel frustrated by stagnant or limited growth despite you and your team’s best effort. If you feel like you are banging your head against the wall, it’s likely an indicator to consider exploring options as a pivot may be on the horizon.
As Brian mentioned multiples times in the episode, pivoting is hard. Your resources, including personnel, have all been acquired to do one thing while you’re considering shifting to another. You likely have customers that appreciate and enjoy what you’re currently doing. To weather the storm of change, focus on the problem you’re solving, who it helps, what will happen in their life if you’re able to get this right, and what’s at stake if you don’t. It’s important to remember what your organization does matters to others. You will need an extra dose of inspiration and motivation to push through the challenges of pivoting.
When you’re approaching a pivot, you’re likely still running your current business model as you develop your next one. Consequently, you and your team may feel a little stretched. You may also have a lot on the line and feel a pressure to get it right. If you do, you’re normal. However, don’t confuse getting right with getting it perfect. Even if you follow Brian’s advice and successfully test your new model and offer prospective customers, there is no guarantee it will produce the results you want. At some point, you’ll need to trust the information you’ve gathered, experiences you’ve had, and the feelings in your gut to ultimately make the transition. Don’t wait for a sure thing at the expense of losing everything.
BELAY client Geoff Welch and his BELAY Virtual Assistant Trúc Towns talk with Tricia about their experience of learning to work together and their top tips for getting started working with a Virtual Assistant. Geoff also explains how delegation has allowed him to play to his strengths in both his career and his personal life.
In today’s fast-paced and interconnected world, harnessing the power of technology and artificial intelligence has become essential for businesses and professionals aiming to thrive in their respective fields. Today, we have the privilege of hearing from a remarkable duo who have embraced the potential of AI to enhance their productivity and streamline their work processes.
Wes Gay is a StoryBrand Certified Guide, Agency Owner, and Private Workshop Facilitator. And since 2016, he’s helped hundreds of organizations find clarity with StoryBrand. Jodi Reiter is an accomplished Executive Assistant, bringing a wealth of experience from the marketing, advertising and photography industries as she supports Wes. They sat down with Ryan to share their experiences, strategies and success stories in utilizing AI to collaborate more efficiently and achieve remarkable outcomes. Listeners will learn about the most impactful AI tools on the market and how to weave them into your daily workflow.
Today on the podcast, we have a special episode courtesy of our friends at the Maxwell Leadership Podcast. BELAY CFO Lisa Zeeveld sat down with Mark Cole recently to co-host an episode of the Maxwell Leadership Podcast about how to get time back as a leader.
