How to pivot with your business.
How to pivot with your business.
COMPANY INSIGHTS, COMPANY NEWS | OCT 1, 2024
My brother Bruce and I worked together at a Michigan-based design firm before I moved to Spain in 1982. The move was driven by a lack of projects and a desire for adventure in helping to build a startup in a sunny climate. Bruce joined us in Spain the following year.
Our work together was instrumental in growing the Spanish startup into a full-service design and engineering firm with just one client. Opel Motors of Germany had invested in a manufacturing facility in Cádiz to produce front-wheel drive systems and steering columns.
The projects flowed to our team because we were the first to offer our services and there were many American expats on the client leadership group. We had a steady flow of challenging automation projects and worked a relaxed Andalusian schedule with leisurely lunches and long weekends. Life was good!
My commitment to the company began to deteriorate when we returned from a vacation to learn that our boss had sold half of the company to a Spaniard from Madrid with no experience in our specialized work. This was in early 1984. I resigned to move back to the States to continue work on my design degree. Looking back over the decades, this was one of the first life and career pivots of many to follow. My resignation was a calculated bet that new and better things would unfold. This was the first of many pivots.
What is a pivot?
The Oxford Dictionary describes a pivot as, especially in a business context, completely changing the way in which one does something. "the teams performed exceptionally by quickly pivoting to meet the increased demand from our customers"
This concept has been especially effective for our firm during the turbulent business conditions over the past several years.
We somehow found our way through the unprecedented challenges of the pandemic to emerge stronger and better aligned as a team. Open and courageous communication was key to keeping everyone up to speed on the disruptive changes wrought by reduced or zero budgets for outsourcing and changing government guidelines. Most importantly, we were working hard to stay healthy for our families and friends.
Take away no. 1: Be Honest and Authentic
Be brutally honest with your assessment of the current situation. So many leaders fool themselves with the news they want to hear. Work hard to ask the right questions of trusted people and work harder to listen to the answers.
Grow and cultivate a group of trusted outside advisors with “ no dog in the hunt” to provide informed, unvarnished advice. I have been blessed over my long business career with people who always speak the truth and provide knowledgeable insights. From my experience, the busiest people with the biggest jobs are often the one who find time to listen and provide opinions. These relationships are built over years together and the trust that is cultivated over time.
Take away no. 2: Be Generous
Be generous with your time and resources to find ways to help your closest friends/clients. It’s never about chasing the next deal; it’s about building close, trusting relationships by consistently doing the right things. Business will follow when you focus on the relationship.
Our world changed on February 20, 2023, with the news of my brother’s sudden and sad passing. Bruce died by suicide and none of us saw this as even a remote possibility in our life together. He lived for his family, friends and community. We worked together over four decades and built a very special legacy. I never imagined going forward in life or business without my brother, partner and lifelong friend. Life has a way of dismantling or shattering our plans.
It's now been 18 months since Bruce checked out of this life. The first six months after his death were spent finishing active projects and winding down a partnership with a manufacturing company while living through deep grief and sadness. Along the way, I decided to focus on healthy client relationships and projects aligned with my passions.
I learned that it’s a lot harder to streamline a company than it is to grow one. Open and candid communication is the only way to work through deep and challenging change.
Take away no. 3: Be Agile
Be agile in your planning and ready with contingencies in the event of ever shifting circumstances. Most importantly, focus your energies on relationships where you feel valued and respected. Leave everything else aside or behind as you seek life balance.
The pivot has always been a key concept in life and business. It’s a simple word with far reaching implications for healthy and wholistic development of our personal wellness, our families and teams.
Conor Fredricks, Bruce’s son and our Director of Design, worked together to create a new business model. As of September 30, 2023, we now work remotely on vetted projects with clients who appreciate our contribution and value our relationships.
The first step in building this new business model was a review of our past client relationships and projects. This fresh look helped us construct a tight list of companies for future communication and collaboration. It’s tough to say no to difficult clients when you are running a machine. Over the past year, we have been liberated to work on exciting challenges with demanding and appreciative teams. We are just getting started!
We encourage your comments and any questions. Thanks for sharing!
Maury Fredricks
CEO
Fredricks Design, Inc.
