You can’t read an article on a startup these days without hearing about a “pivot.” A pivot is just as it sounds, a swivel, a twist, a change of direction. Turning on an axis and swapping direction without dismissing the core idea.
It’s a tricky proposition, but more startups are pivoting because opportunity will only knock so many times, and if you’re not behind the right door, waiting, you’ll miss out.
Technology changes, ideas evolve, and the landscape shifts. A startup needs to be nimble. 2012 may be the year of the pivot, but as someone who recently underwent a pivot after nearly three years of staying a course, I’m a firm believer that you need to get three key things right for a successful pivot.
Pitch
When you pivot you’ll want to think about your pitch and who your pitch is geared towards. This is the future, and if you’re not pivoting to make the world a better place, you might want to reconsider your positioning. Be bold, be brave. You already have a foundation if you’ve gotten to a pivot point, so don’t be timid. Investors are going to want to see. . . (READ MORE)
Article by: Eric Silver
Published at: VentureBeat.com
[Top image credit: topten22photo/Shutterstock]
