Pivot. If there is ever a word that I think about a lot and talk about a lot with other CEOs it is pivot. Why? Because every company needs to pivot. From small companies to the largest enterprises, companies often find themselves in a situation where there is a critical need to pivot the organization.
But let me be clear – pivoting a company is not easy and is often scary. In this episode of CEO Corner with Alex Buran, we look into Translation Cloud, a company that is currently going through that pivot. Alex launched and created a great service business focusing on translation services. His business is both successful and deep in terms of resources and capabilities. But Alex saw the opportunity for something bigger and in doing so launched Ackuna. Ackuna is a crowd-source platform for translation services where the community both helps to perform the services and grades the effectiveness of others performing the services.
Why launch Ackuna? Because Alex saw the opportunity to 1) build a platform that could pivot the business from a service business to a platform business and 2) because Alex recognized the opportunity that the new social, crowd-source platforms are creating in the marketplace and decided to seize on that opportunity. For sure, the pivot is a scary and difficult one. But doing so is about being calculating, knowing your threshold for investment, understanding the amount of investment you are willing to make, and making sure you have complete alignment in your organization on the pivot that you are recommending and attempting.
Be sure to watch the full CEO Corner with Ackuna and feel free to tweet or e-mail me ssaber at ThePulseNetwork DOT com. Interested in being a guest on CEO Corner? Contact Bruce Karten, bkarten at ThePulseNetwork DOT com.