Pivoting for Success

Insights from Kim and Gary Lane, Owners of Here's Your Cedar Sign in Branson, Missouri

In the dynamic landscape of business, adaptability is the key to survival, a sentiment echoed by Kim and Gary Lane, owners of Here's Your Cedar Sign in Branson, Missouri. The Lanes, who have successfully navigated the ups and downs of the business world, emphasize the crucial role of pivoting, be it for large corporations or small enterprises like theirs.

1. Keeping Pace with Change

Kim Lane highlights, "Everything is changing at a rapid pace, and the world of business is no exception." Reflecting on the swift evolution of technology, she points out how apps like Twitter and Instagram transformed from obscurity to industry icons in just a few short years. "If entire industries can evolve at such a rate, it's foolish to think any business could move slower and be successful," adds Gary Lane. The Lanes stress the importance of keeping an eye on industry trends and pivoting accordingly to stay relevant and successful.

2. Expanding Revenue through Strategic Pivoting

"Pivoting can create opportunities to expand revenue," notes Kim Lane. Whether exploring new markets, services, or products, pivoting opens doors to new possibilities. Gary Lane emphasizes the role of research and analysis in this process. "Test what's working and what's not, use data to make decisions, and pivot toward what's successful," he advises. Strategic pivoting, according to the Lanes, allows businesses to build on their existing foundation, increase revenue, and boost profitability.

3. Staying Relevant in a Changing Landscape

"Staying relevant is crucial," Kim Lane states. She emphasizes that understanding market demands is essential for business success. Gary Lane provides an example, saying, "A services company may realize X service is no longer in demand, unlike Y service which is. Pivot toward the more relevant service." The Lanes advise against blindly following trends but stress the importance of adjusting strategies to stay connected with audiences and remain relevant in the ever-changing business landscape.

4. Learning from Experimentation

"Some of the best ideas come after testing different things," observes Kim Lane. Business, she emphasizes, is about trying new approaches, studying data, and making informed decisions based on results. Gary Lane adds, "This often requires business owners to pivot." Acknowledging that change is not always easy, the Lanes highlight that strategic pivoting, informed by data and experimentation, is often the key to long-term business success.

5. Reinvigorating the Business

"Pivoting is a great way to bring new life to the business," says Gary Lane. The Lanes stress the importance of businesses evolving to stay current and competitive. "Becoming stagnant or irrelevant is one of the worst things that could happen to a company," warns Kim Lane. They believe that finding innovative ways to target audiences or introducing new products can breathe new life into a business that might otherwise face stagnation.

In conclusion, Kim and Gary Lane from Here's Your Cedar Sign in Branson, Missouri, share invaluable insights on the strategic use of pivoting for business success. Their experiences underscore the importance of adaptability, relevance, and continuous evolution in the ever-changing world of business.