Many small businesses and startups are pivoting in an attempt to tap into new revenue streams in the face of the pandemic. So how do you identify a worthy pivot? And are all risks worth taking?

Troy Douglas

Nexba co-founder and co-chief executive officer

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Humans are social beings and for the majority it is not normal that we are required to conduct business remotely. Humans are also incredibly adaptable and throughout history businesses that can survive through unprecedented times will be the businesses that thrive when markets reopen.

As a founder, one of the biggest personal growth opportunities I’m facing is learning to be comfortable with being uncomfortable again and how to ask great questions, for my team and for the business.

Pivoting is another way of saying adapting your execution because new data suggests it can reduce performance risk.

Pivoting fast requires founders to live in the unnatural state of tension where we are externally looking to drive our vision optimistically and with passion, while internally needing to scenario-plan every potential challenge that could derail us.

A way of thinking most founders and small business owners are well versed in.

Pivoting through adversity requires even more tenacity.