What is a Pivot?
A pivot is a strategic change in a company’s product, business model, or target market, often based on market feedback or evolving conditions.
Table of Contents
Full Definition
Pivots are used when initial assumptions prove flawed or opportunities arise.
Successful pivots involve rapid shifts in strategy to better align with market needs or competitive landscapes.
This flexibility is critical for startups navigating uncertainty and aiming for product-market fit.
Examples
Change in product focus
Business model adjustment
Market re-targeting
Benefits
Allows adaptation to feedback
Can unlock new growth paths
Demonstrates agility
Common Mistakes
Risk of alienating existing users
Requires quick execution
Conclusion
Pivoting is often necessary for startups to find the right market fit and scale effectively.