Change is a natural and expected part of running a successful business. Sometimes a startup — or external factors in its market or industry — can change in ways the founder didn’t anticipate, and in such cases, it’s necessary to take a different approach to your business operations.

Whether big or small, strategic pivots need to be carefully planned and well-timed. But, how do you know when your company is ready to evolve to its next phase? Members of Forbes Coaches Council offered their thoughts on when and how to pivot your business.

1. You Want To Make Your Business A Stronger Version Of Itself 

The desire to take your company to new levels of performance and profits requires change and adaptation. It requires a break from routine and old habits. It will require a mindset shift with a full understanding of the importance of evolving. Ask yourself, “What is really going to change to become better?” Then, set your goal in the next quarter to begin improving efficiency and remain competitive. – Maria Pastore, Maria Pastore Coaching

2. The Market’s Overall Needs Are Changing 

As the market needs to evolve, you need to pivot your business to meet changing needs. This will become increasingly necessary as the Fourth Industrial Revolution continues to bring about change and disruption with new technologies and business models. Keep an eye on both your customer needs as well as the evolving market so you can pivot and be where your customer needs you to be. – Larry Boyer, Success Rockets LLC

3. You’re No Longer Serving Your Target Market 

Just like technology, business tastes are always changing. If your target audience is desiring a different way to be served, you must adapt or narrow your niche to a market that desires your product or service as is. The “this is how we’ve always done it” attitude will not serve your business and ensure its survival. – Niya Allen-Vatel, NCRW, CCTC, CCM, Career Global

4. You’re Spending Too Much Time Putting Out Fires 

It’s a huge indicator that your business needs to change when you feel as though you spend more time putting out fires on a daily basis, and leave everyday feeling likes nothing has been accomplished. When this happens, it’s time to take a step back, reassess and plan on a higher level. – Rosalee Laws, The Rosalee Laws Company

5. Your People, Process Or Profits Are Declining 

It might be time to discuss the possibility of a pivot if any of the following is declining: people, process or profits. Is employee retention declining? Is the culture becoming nit-picky or overly critical? Are there inefficiencies in process or execution? Is performance low? Are you behind on market trends, impacting your leads? Get outside perspective from trusted advisers, and take action. – Zheila Pouraghabagher, Collaboration Business Consulting

6. You’ve Stopped Growing 

Growth indicates what you’re doing is working. The moment your business stops growing, however, your business must pivot. Becoming fanatical about your key measurements will ensure you’re aware of the health of your business at all times. The moment productivity, efficiency or profitability declines is the moment pivoting must occur. – Dr. Stephen Kalaluhi, The StephenK Leadership Team