The Art Of Pivoting

Jan 16
Can you imagine that YouTube was a dating video service, not the streaming video service we know?

Well, that's the power of pivoting!

We wouldn't have heard of YouTube if it remained that dating service.

👉 Pivoting is changing the old hypothesis to create a new one. We find a new minimum viable product (MVP) and experiment with the new hypothesis.

👉 Persevering is trying to prove our old (existing) hypothesis. We design new experiments or improve old experiments to prove the old hypothesis.

Ask most entrepreneurs who have decided to pivot, and they will tell you they wish they had made the decision sooner.
Here are 3 reasons why founders fail to pivot on time:

1. ''Vanity metrics'' lead to false conclusions.

Your followers' count doesn't matter as much as your paying subscribers.

2. The absence of a clear hypothesis to test.

Which hypothesis are you testing to ensure you've found your product-market fit?

Without a clear hypothesis, there is no failure.

Without failure, there is no incentive to embark on the radical change a pivot requires.

3. Being afraid of failure.

Acknowledging failure can lead to low morale. It's terrifying to think the vision was off.

👉Pivoting vs persevering can be a real dilemma.

This is why it's essential to trust the data - the actionable metrics.

Acknowledge that:

  • You won't fail if your start-up does.
  • You are NOT your start-up.

Dissociate yourself from the process.

If you're planning to pivot, this programme might be of interest.
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