What is a Pivot?
A Pivot is a significant change in a product or business strategy, typically undertaken in response to feedback, market conditions, or new insights. Pivots can involve altering the product’s features, target audience, business model, or even the overall vision. The goal of a pivot is to better align the product with market demand or to capitalize on new opportunities, often with the aim of achieving sustainable growth or success.
Pivots are common in the startup world, where agility and responsiveness are crucial to survival. A successful pivot requires a thorough understanding of the market and a willingness to adapt based on data and user feedback. While pivots can be challenging, they are often necessary for turning a struggling product or business into a successful one.