Pivot Like A Start-up: 5 Life Lessons Small Businesses Can Teach You

Much has been written about what start-ups can learn from real life and put to use for their business success. But have you ever thought of it the other way? If you look closely at the start-up space and follow their lifecycle, you will be stunned to realise what small businesses can offer in terms of life lessons. Here are 5 strategic tips you can pick up from them to make your life more meaningful.

1. There’s no end of the road.
We are not being overoptimistic here. Entrepreneurs all over the globe witness a series of failures before they can hit it right. And those who have been immensely lucky and succeeded in their very first ventures will tell you how many twists and turns they face every day to keep the show running. But when it comes to the business of survival – be it your professional or personal life, these disaster pangs must be dealt with, without losing your courage or confidence. “Failure is most difficult to accept once you have tasted success,” admitted an Indian entrepreneur whose maiden venture had to be wrapped up due to fund crunch. But after a business paralysis for a few months, he had sold off the bits and pieces of his earlier venture to his advantage (it took a lot of cool-headed marketing to show the next buyer the true value of things he was handing over); learnt from his earlier experience and is about to set up another new venture in a couple of months (watch this space as we bring you the story of this upcoming Indian start-up).

For most of us, failure is not an option, and we fear it so much that we stop taking risks (just like some businesses do) and stop acknowledging our weaknesses. But that kind of inertia won’t help you evolve. Get cracking, even if it means a series of blunders, but make good of what you learn from those and stand by your own convictions. That is how you gain the knowledge and power to come up with the next success.

2. Idée fixe doesn’t work.
You have heard so much about businesses pivoting and might have smiled a secret smile, inwardly proud that your own life is in apple-pie order – it is going the way you have planned it. Well, nothing can be further from the truth. Nor can every piece of your life offer you optimum returns. Take, for instance, the journey of Snapdeal.com, an e-commerce marketplace that pivoted as many as seven times – from a never-launched movie booking site to discount voucher business to daily deals site to what it is today. Or think of InMobi that started as a mobile-based local search and went on to become one of the top mobile ad networks and a key player in the m-commerce space. We actually came across an inspiring story when UK-based Lloyd’s List, one of the world’s longest published newspapers (first edition was printed in 1734), turned completely digital last December to go global and stay profitable. Could they have gained name, fame and profit, had they stuck to their initial business concepts instead of opting for strategic changes?

Beginning a new chapter can be challenging at first, but it may lead to a different kind of prosperity – the chance to live your life according to your own choice and do better than before without giving up on your core expertise. For instance, you may have proven skills in business development but doing that for a social enterprise may make you feel happier than doing it for a big firm. Change, so that you can change and impact many more lives.

3. Non-performance is an issue.
Have you ever tried dealing with the shortcomings that hinder your life’s growth? Procrastination at work, a bloated ego, an unhealthy lifestyle or a total lack of concern for your fellow humans can be your undoing in the long run. Worse still, there will be no external authorities around to measure and monitor your life’s performance. When things are below par, you are actually responsible for those and you need to amend your life with some strategic tools just like some businesses do.

For starters, set up achievable goals in every area of your life and keep a tab on how you are doing. Next, learn and practise all that you need to – so that you can substantially improve the quality of your life. But while doing so, don’t forget your mission and vision – your long-term goals. Nurture growth slowly but surely, like a start-up does. And quickly kick the habits that do not add value to your life. As we all know, firing the wrong persons quickly saves your business and the same holds true for unproductive habits. Finally, don’t delay things just because it feels too uncomfortable or you have been too used to a particular lifestyle. If your head and heart are attuned, you will make the best CEO of your life and never fail to bring about an uplifting change to yourself.

4. You can’t sell unless you create the need.
All our life, we are trying to market ourselves – consciously or unconsciously. Sounds rude, doesn't it? But that is the truth, whether we like it or no. Of course, when we are attending job interviews or trying to raise capital for our ventures or selling our company’s products – the promotion and marketing part is done deliberately, as part of our professional endeavours. But what happens when you are networking on social media or trying to build a relationship with a prospect/connector of any sort? You are still marketing yourself and your ideas, hoping it may result into sales some day.

That is precisely the marketing strategy most businesses follow, especially if they are new. According to a popular theory, a company can’t really sell anything to anyone unless customers are ready to buy it. So new businesses try to engage and impact prospects via social media, trying to drive the need of their customers.

One can follow the same plan to improve one’s social branding. Do remember that you have to create your own value across your networks and let others see that you can be a meaningful contributor when they require your kind of skills and expertise, help and support. Resonate with your social connects and execute your ideas creatively – that is bound to prove your value.

5. You can’t walk those miles alone.
To execute these life lessons, you will need help. After all, who doesn’t when he/she is reimagining the business and seeking success? Entrepreneurs often seek the right kind of mentors for their experience and strategic help while co-founders try and form a strong team to complement each other’s strengths. Even Angels/VCs help them out with sound business advice. So when it comes to life and living and all its tough challenges, you are entitled to get as much help as you can.

However, most people hesitate to ask for help and try to figure things out on their own. That may or may not work, depending on how complex the issues are and how comfortable you are in revealing sensitive topics. Still, discussing your problems with immediate family or close friends is likely to bring in a new perspective and some viable solutions. Otherwise, you may try and find a formal or informal group of advisors/mentors who can help you out. That long road stretching ahead has plenty of ups and downs in store for us. Do not go it alone.

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