“It isn’t where you came from. It’s where you’re going that counts.”
– Ella Fitzgerald, American jazz singer
Even though Ella Fitzgerald wasn’t an entrepreneur herself, she was a trailblazing inspiration to many, and revolutionized her industry. We think that her enterprising spirit in the music industry can inspire all entrepreneurs to plan, learn, and focus on your goals.
What is a pivot, and how can it help your business?
Making the decision to pivot is one of the hardest aspects of the Lean Start-up method of managing start-up. Founders and entrepreneurs are emotionally tied to their products, and energy and money have been invested. A pivot isn’t necessarily a failure – it means that you will change one of your hypotheses about your product or service. There are different variations on the pivot – read more in our blog post Lean start-up: Is it time for your small business to pivot?
“Pivots are a permanent fact of life for any growing business. Even after a company achieves initial success, it must continue to pivot.”
– Eric Ries, in his book The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses
At GoForth, we know that many entrepreneurs take a few tries to find a small business idea that sticks – nearly half of all small businesses opened in Canada each year don’t make it to their fifth birthday.
However, that doesn’t mean that failure is necessarily a bad thing. Failure in some form is experienced by all entrepreneurs at some point. It may be a fairly minor setback, or it may be a more major situation.