This week’s “VLOG” rant discusses
“Hockey Stick Principle #49: When pivoting, it’s best to start small.”
Pivoting is changing direction or trying something new when some aspect of your business model isn’t working (i.e., market, price, sales method, product features). For example, if you are unsuccessfully selling your product to restaurants, you could “pivot” and begin trying to sell it to a different market, such as hotels or grocery stores. Pivoting was popularized by the great book, The Lean Startup. But when your startup isn’t going as planned, is this always the correct approach? Check out my 1-minute Rant and find out.
So my advice is that when the going gets tough at your startup, don’t automatically get going. Instead, push harder and make smaller tweaks. The right approach when it comes to making changes is to systematically interrogate EVERY aspect of your business model THEN make the decision whether it’s a smart move to make that major pivot. Because remember, early adopters are difficult to find! Respect that my friend. Respect it.
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