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