In business there's this idea of a pivot which is basically a strategic redirection of where you want your business to go and I really enjoy this concept because it's not simply a we're gonna throw everything out and try again, it's basically just a we made a mistake we assessed the situation and we've realized that we have to go into a different direction and using that information to learn and to move into a different direction. I think this is so valuable especially for entrepreneurs and for anyone. Who's involved and the business community to really take on this idea of a pivot as a unique up opportunity and example of to put it in other words failure. I think this is such a great way of looking at failure because it embeds the learning opportunity in the action itself, so if you're gonna pivot your business from one business model to another then you're learning from a failed business model and it may not be that the entire business model was a failure there. May just have been one component of it that was just not ready maybe there was a technology that hadn't been developed that is too far it's too much of a reach to wait for that technology to be developed maybe the market you thought was there wasn't as large as you expected and so you're not able to scale really effectively maybe there's a whole host of external factors regulations that could come into play that could limit the impact of that business model and so rather than sticking with a business model that may be destined for failure. You take the decision to learn from that experience and move into a new and different direction and so what I would love to see more of out in the world is entrepreneurs pitching their failures. I would like to see them pitching their pivots if I could imagine a group of entrepreneurs telling me about their businesses and their business models. I wouldn't want to hear how successful they expect themselves to be what I would want to hear is how unsuccessful they have been that will. Give me a much truer test of them as individuals their resilience but also their ability to kind of think on their feet and to move into new directions where they think the markets are available and where they think there are new business opportunities social impact opportunities. I think that speaks volumes to the maturity of an entrepreneur and the maturity of an innovator when they can stop thinking about their work in one dimension as being about one single ambitious aim and start thinking about their work more holistically and that while they may. Still retain that ultimate why why they exist stays the same they may adjust their how they may adjust how they go about making money how they go about impacting society or they may address what they actually do, so opening up a new service line opening up a new product line closing down a service or product line, it's so easy to get entrenched into a single way of thinking about the work that we do it becomes extremely hard and challenging to change that way of thinking and to move into a different direct. It takes so much courage and bravery and it also takes insight and intuition to be able to make those changes effectively. And that's why fundamentally a pivot is about strategic redirection being able to think strategically. So in my work I want to see more entrepreneurs pitching their failures and less entrepreneurs pitching their hope for success.
