Pivot to Profit - Proforma

We are all learning some new vocabulary during these times. Words like “shelter in place,” “social distancing” and “herd immunity.”

Another word I strongly recommend people learn is PIVOT. Pivot simply means to “turn.” Many people reading this need to learn to pivot or turn. To pivot to new types of companies wide open for business. To pivot to new types of products businesses need. To pivot to new types of decision-makers who are buying the new types of products that businesses need.

I’ve heard many people say that they are waiting for things to return to “normal.” Unless you’ve been binge-watching Netflix, you must know by now that we aren’t returning to “normal” any time soon, maybe never.

Let me encourage you to not look at pivoting as if it is something bad. Perhaps pivoting may be the best thing you ever do for your business.

Here’s a great story about a famous company that pivoted to profits.

YouTube was originally conceived to be a video-based dating service where users could upload short videos describing their ideal partner and also browse for potential matches. Their slogan was, “Tune in, hook up.”

Eventually, they saw the potential in a much larger and different business model that we know today. That pivot helped the founders of YouTube build a company that sold to Google for $65 billion dollars.

Pivot to Profit.

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About The Author

Greg Muzzillo started Proforma as an industry distributor in 1978. The company grew quickly and in the early 1980s Proforma was recognized for three consecutive years on Inc. magazine’s list of the 500 fastest-growing companies in North America. In the late 1980’s Proforma introduced its membership program to empower distributors to retain their business ownership and independence, and to share in sales and marketing resources, purchasing power with industry suppliers, one back office including all billing, accounting, vendor payments, cash flow, computer systems and more. Today Proforma has over 600 Members and is the $500 Million leader in the Promotional Products and Print Industry. Proforma’s record breaking success includes having 18 of its Affiliates named to Inc. Magazine’s 2020 list of the 5,000 fastest-growing companies and 193 Affiliates achieving its Million/Multi-Million Dollar Club with sales up to $38 million.