42. Three powerful lessons from my business pivot in 2023

Two weeks ago, I had the opportunity to spontaneously share lessons from my business pivot at the Young Entrepreneurs’ Initiative Q2 meetup at the Elgin County Railway Museum.

In early 2023, I would have been known as a strategy consultant. Today, I am more of a strategy educator and primarily focus on my DIY Strategic Plan program.

It was not easy getting to this point, but I am grateful for the journey and the insights gained along the way. Here are the three key learnings learned:

1. You are not crazy:

Embracing change doesn't mean you are losing your way. Instead, it can be a necessary step toward progress. Adjusting your business model or strategy can open new doors and create opportunities you had not considered before.

In my case, it has helped me develop a program that enables me to serve many more nonprofits, amplify my impact, and minimize time away from loved ones.

2. Take the time to reflect:

There is no set rule on how to navigate the way forward. Just make sure to create the time, space, and energy to figure out next steps. Clarity often comes in quiet moments. You might be able to make space while still running the business at a lower intensity, or you might need to step back completely. This is also an opportunity to let go of your past identity as a business owner, heal, and make way for a brighter future ahead.

In my case, I took a couple of months off work to reflect on how I’d gotten to this point, reimagine my desired future, and design the ideal model for me. Six months after my sabbatical, I had a clear direction with lots of peace of mind.

3. Surround yourself with the right people for your next phase:

The people who supported you in the past might not be the same ones you need in your next phase. Your business might be solving a different problem, targeting a different audience, or using a different model. You might also need new voices to help you embrace new ways of thinking or move forward on a new slate. That’s okay!

In my case, I participated in the Fall 2023 Libro Social Enterprise Incubator, joined a co-working space, reached out to other educators in the social impact space, and enrolled in various online and in-person groups and programs.

In all these, remember to be kind to yourself. You are not your business. The fact that a business fails or struggles doesn't mean you have failed.

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Interested in learning more about my new focus? Check out my DIY Strategic Plan program providing robust nonprofit strategic planning support at only 10% of consulting fees!