The term ‘pivot’ has become a bit of a buzzword in business circles recently and refers to a fairly significant and transformational change to your business.
A pivot is often intended to help your business recover from some tough times, fierce competition or from any other reasons (such as COVID-19) that make your original business unsustainable – few business owners pivot just for the sake of it. And pivots are fairly common – research shows that up to two thirds of businesses need to pivot at some point in time.
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