“Pivot” can be a loaded term.

To some, it means admission of hitting a dead end.

To others, an opportunistic leap toward something new.

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Either way, it’s a constant temptation for us soloists.

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Customers aren’t biting?

I need to pivot to finally find some traction.

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Some influencer or peer seems like they’re printing money?

I need to pivot to get in on that.

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A new technology or trend purported to be flipping an industry upside down?

I should pivot to stay ahead of the curve.

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Some of these are valid reasons to shift direction.

But notice that all of them are sparked by external triggers.

And often, they lead us to quickly toss aside the core skills and expertise we’ve spent years (or decades) building.

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Now, of course it’s important to listen to the market…

But how far do you let the market pull you from your core expertise before you lose your edge?

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A massive new study out of Kellogg finally quantified that tradeoff.

They looked at 26 million research papers and 1.8 million patents.

When experts moved into a totally new territory, the odds of their paper’s success dropped by more than half.

And patents built far outside an inventor's core expertise saw a drop in market value of 29%.

As the article states:

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They called this the Pivot Penalty.

And on paper, it’s not too surprising, right?

If McDonald’s started making cell phones, it probably wouldn’t go well.

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But as solo consultants, our pivots don’t seem that dramatic.

We shift our ICP. Revamp our offers. Strike up new partnerships.

All of these can be healthy, when done with intention.

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But don’t stray too far too fast.

Don't forget where you’re already credible.

Where your edge has already been earned.

Besides, a true pivot requires keeping one foot firmly in place.

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💡

-Wes