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Image of a busness owner in their furniture store with the heading 'Refocus your business with PIVOT'

Refocus your business with the PIVOT program

APPLICATIONS FOR THIS PROGRAM ARE NOW CLOSED

Few WA businesses have escaped the impact of the COVID-19 pandemic. However, now that we are emerging on the other side, the focus is on recovery.

The PIVOT program is an exciting new initiative for small business owners across the state. It aims to support you and your business by generating a new mindset and spirit of optimism. It also provides practical help as you focus on the future and new opportunities for your business.

We’ve heard a lot about ‘pivoting’ and finding innovative ways to develop new products and services for new markets. The PIVOT program builds on this concept to develop a positive, resilient approach to the future.

PIVOT stands for:

P – Persist (keep on going)

I – Invent (discover new ways of doing things)

V – Viewpoint (maintain your optimism)

O – Opportunity (they are everywhere and ready to be taken)

T – Timing (the importance of planning and reviewing)

Who’s behind PIVOT?

This is a Small Business Development Corporation (SBDC) program, funded by the State Government’s Recovery Plan.

The program will be presented by Blow Your Own Mind (BYOM), one of our trusted service providers. The Perth based company, also a small business, has a proven track record in innovation, business coaching and helping entrepreneurs to grow.

How can PIVOT help my business?

PIVOT focuses on developing the entrepreneurial mindset necessary to rebuild businesses, discover new ways of operating and meet the demands and opportunities presented by new markets. It will provide an opportunity to reassess your current business model and to look at ways to innovate and build resilience for long term success. A key element of achieving positive outcomes in business is accepting and managing risk. This program will equip you with the tools and confidence to work with risk as you take your business forward.

Perhaps you have a clear idea of where you want your business to go, or you feel ready for change but aren’t exactly sure about your options. If you fit into either camp, the PIVOT program will help — the important thing is to be open to the possibilities of where your business could go.

What will PIVOT actually provide?

The PIVOT program has four main steps:

  1. You’ll be asked to complete an Entrepreneurial Mindset Profile (EMP) questionnaire. This tool, developed by Florida’s Eckerd College, will help you learn more about your current mindset, as well as identifying your strengths and target areas for further development. (Watch a short overview video about EMP.)
     
  2. Guidance will be provided to take you through a process to review internal and external factors currently affecting your business.
     
  3. Step 3 is when the work really begins, with a series of webinars, mentoring sessions and workshops, all delivered online, to build your strengths and help you identify and capitalise on business opportunities.
     
  4. Finally you’ll complete a further EMP questionnaire to provide you with clear evidence of the shift in your entrepreneurial mindset.

All this is provided free of charge.

Is my business eligible for the PIVOT program?

If you meet the all following eligibility criteria, you are encouraged to apply:

  • Your business is ‘small’ as defined in the Small Business Development Corporation Act 1983 (details are on p.3 of the Act). This includes sole traders.
  • You have a valid and active Australian Business Number (ABN).
  • You are committed to undertaking the requirements of the program over a six month period commencing in August 2020.

What’s my personal commitment?

Although there is no cost to you, this government funded program is valued at around $4,500 per participant, so we are only seeking people who are able and willing to commit the necessary time and effort to reap the significant benefits on offer.

Starting in August, the program will run for six months and you’ll be expected to commit around 2½ hours per month. This could be across a range of activities including mentoring and webinars, along with networking sessions with people facing the same challenges as you. All the activities are delivered online, so you can access them at a time to suits you. You will be expected to spend additional time to develop your plans and to apply your learning in your business.

Like most things in life – the more you put in, the more benefit you’ll gain.

Next steps

6 August 2020 Expressions of interest open.

17 August 2020 Expressions of interest close at 4pm, late applications will not be accepted.

25 August 2020 Applicants notified whether they have been successful.

31 August 2020 PIVOT program starts.

Places on the program are limited, so it’s important to submit your expression of interest promptly. To ensure as many businesses as possible can benefit from this valuable program, applications will be limited to one per business.

All eligible businesses are encouraged to submit an expression of interest, however preference will be given to businesses that:

  • have been significantly impacted by government restrictions due to the COVID-19 pandemic; or
  • operate in the tourism, agrifood, hospitality or retail sectors.

Expressions of interest will be reviewed by a Small Business Development Corporation selection panel. Consideration will also be given to the location of participants to ensure both regional and metropolitan areas are represented.

Apply now.

Please note - after completing the EOI application form you will need to save it to your device and send as an attachment to recovery@smallbusiness.wa.gov.au.

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