Pivot: Keep your foot planted in basketball to avoid a travel. Shift directions while moving a couch up a narrow stairwell. Make a change to your business that will benefit the business and your customers/patients.
As you know, there are several
meanings associated with the word “pivot,” but today we’ll be talking about the third meaning - making a beneficial change to your business. There are several examples of prominent companies that owe their success to a pivot they made at one point
in their business lifetime.
AirBnB began as a temporary lodging service specifically for business conferences, but pivoted to make it a general consumer service and opened up a whole new world of opportunity. Honda initially entered the US
market in the 1950’s attempting to compete with Harley-Davidson, but found there was much more demand for their bikes in the off-roading market. They pivoted and shifted their focus to dirt bikes and recreational vehicles, which helped them gain recognition
and prominence. This pivot allowed them to eventually compete with Harley later on, and in fact they remain one of their strongest competitors today. Of course, one of the most famous examples of a company pivoting is Netflix, who went from DVD delivery
to on-demand streaming, kicking off the new era of streaming we are familiar with today.
All of these are excellent examples of companies that paid attention to the market, made changes, and enjoyed success. Pivots are necessary in pharmacy
as well. One innovative way pharmacists are pivoting their practices is by converting to telepharmacy.
But why convert to telepharmacy? How do you know if telepharmacy is right for your practice? This article will lay out the top four scenarios
pharmacies find themselves in that are prime opportunities to convert to telepharmacy.
Print Page
Email to a Friend