Pivot

A pivot in the context of a startup is a strategic change in direction. This means the company changes a key part of its business model, product, or approach to better meet market expectations. The pivot can involve the product, the target customers, or the positioning of the startup. It is often based on user feedback or the realization that the initial path is not leading to the desired results.

How does a pivot work?

When a startup decides to pivot, it relies on data or market feedback to adjust its approach. For example, a startup developing a fitness app might discover that users prefer mental wellness features. Instead of abandoning the project, the team could decide to pivot toward a product focused on meditation or stress management.

Concrete example

Take the example of Instagram. In its early days, the platform was called Burbn and allowed users to do many things, including posting photos. However, after analyzing user behavior, the founders realized that photo-related features were by far the most popular. They decided to pivot and focus solely on image sharing, which led to the huge success we know today.

Why might a pivot be necessary?

A pivot allows a startup to quickly adapt to market needs and optimize its chances of success. It can help avoid wasting time and resources on an idea that isn't working. By pivoting, a startup can find a new opportunity or solve a problem it hadn't considered at first.

Thinking about a pivot for your startup?

If you are considering a pivot or need advice to adjust your strategy, contact us via the contact form on our website. We would be happy to support you in this process and help you find the best path for your startup.