The past year has validated the truism that in business, as in life, the one sure thing is change— and long-term success requires the courage to practice the Art of the Pivot. The concept of pivoting, which in the start-up space refers to shifting a company’s strategy, has relevance today to firms and businesses of all shapes and sizes. Organizational leaders across almost every industry are grappling with a series of new questions as they assess how best to position themselves to face an evolving set of obstacles and opportunities.
My experiences since the 1990s helping my immigrant Chinese parents transform our family restaurant business into a leading regional sushi restaurant brand have taught me valuable lessons in finding a higher ground through all types of business and economic cycles. For the past three decades, my deep involvement in the local business community and conversations with local leaders across all industries—legal, real estate, technology, health care, you name it— have further broadened my understanding of these core principles and confirmed how they universally apply across industries.