The Pivot – The Essence of Entrepreneurship

There’s no better place to consider a Business Pivot than in an early stage business. At this stage a company can’t afford to not consider a business pivot when the business model is breaking down.

There’s no better scholar and seasoned entrepreneur than Steve Blank to discuss the business pivot in start-up situations.

See the post here from Steve’s blog published in April of 2010 -  “Why Startups are Agile and Opportunistic”

Key Business Pivot Takeaways

  • Making the Business Pivot is a gut-wrenching decision. The CEO might have to kill his own idea.
  • If you can’t find a repeatable and scalable business model – its time to pivot.
  • Entrepreneurs don’t get it right the first time.
  • Successful founders observe, orient, decide and act.
  • The Pivot results from problem assumptions in the initial business model assumptions – not the Sales, Marketing and Engineering departments.
  • “Most of the time darn customers don’t behave as you predicted.”
  • Pivots are the essence of entrepreneurship and the key to startup success.


 

 

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