COVID-19 has taught us a lot of things about our society; our personal and professional lives, and the way in which we consume information when under stress. For example, we know that our world is now more connected than ever before. A tiny microscopic virus can travel the globe in a matter of days – which is both terrifying and fascinating.
The word ‘pivot’ is no longer just startup jargon or business lingo, it has become the new favorite buzzword of the new normal. Pivot, which has been universally discussed as a pandemic response strategy, will become an important part of our vocabulary in the years to come. For some of us, pivot meant the focus to recreate the perfect work-life balance when working from home, while for some others, it meant finding a side hustle or newer means of survival.
For people and businesses too, pivot has been the most defining strategy of the pandemic as it reiterates the need for change this event has forced upon us. A typical life scenario would ask of you to not force a pivot, however the irreversible shift brought about by the new normal has forced us to pivot and recalibrate to embrace new ways of living.
To give an example of how businesses have successfully recalibrated – when faced by the sudden collapse in travel & tourism, Airbnb moved quickly to help hosts financially and connect them with potential guests. As a new product introduction, it allowed for hosts to offer online events focused on cooking, art therapy, magic, songwriting, virtual tours, and many other activities, with users joining for a nominal fee. This pivot represents one more step in Airbnb’s evolving approach from its traditional business model of facilitating matches between hosts and guests to its move to become a full-range lifestyle platform.
While businesses have witnessed a prominent shift in the way consumers engage with products and services, here’s how the pivot is affecting how we engage in our personal lives. As a response to career-related growth, working professionals are increasingly shifting their focus from a career plan to a skillset plan. The rising gig economy is testimony to this growing shift in skills specialization mindset of working professionals. Sidestepping the traditional career path, professionals are now driven to explore a more fluid career path over the traditional linear career path. As for personal growth, people are a lot more mindful of their time utilization at work and beyond and are actively striving for personal and professional growth at the same time.
The ability to respond to a crisis like situation such as the pandemic with innovative solutions is what the pivot is all about. By choosing recalibrating as a response to disruptive events, you allow yourself to explore and realize your full potential and create a better way of living.