The art of pivoting

Several weeks ago I went to a conference where pivoting guru, Steve Blank, spoke about his book "The four steps to the Epiphany", a book I would suggest every entrepreneur to read. 
Pivoting is a startup business term that refers to shift completely the strategy or a product of the company because the first attempt into the market of the company was unsuccessful. Based in the idea that the market and customers desire are more and more unpredictable than ever, it´s securer (and cheaper) launching a MVP (minimum viable product), and test it before putting all the meat on the fire, and then pivot if it doesn't work.

Mostly all internet startups pivoted someway sooner or later, and that pivoting should be considered as a sing of maturation and success, not as of a lack of objectives or direction.


But, although the theory is great, in the real life, pivoting is seen lots of times like failure or fault of vision of the founders, even if startups are supposed to pivot 2,5 times average in their live time, and it is usually a big issue for the entrepreneurs t to explain it to investors. 

And that's not just the only danger of pivoting, you have to be accurate not to spend all your budget before the first pivoting, trying to pursue your first idea. That's where all the juice of pivoting is, choosing when is the time of giving up the first attempt and jumping to a new idea.

Come on! Let's pivot!

blog comments powered by Disqus