I am going to suspend the history lesson for a moment. I wanted to share some comments on the art of pivoting . In the corporate world being able to pivot can take years if not decades. Notable exceptions are of course Apple , IBM etc.. In a startup you sometimes will have to pivot and pivot quickly. A very good example of recent pivot came from Groupon. Basically a pivot is to change the course of a product or service based on the needs of your potential or current customers. This modification may take place based on feedback from customers or a new feature added to an existing product that changes the course of the business model.
I found many times in the corporate world people would often times get frustrated when an obvious opportunity evolved from changing a legacy business model. Often times senior management was unwilling to “rock the boat” or try new things. This typically leads to a slow and painful death for the company or its growth and often times leads to employees leaving.
I am learning that it is ok and very necessary to pivot. I have been fighting the urge to hold on to an original business model and try new things to see how they resonate. It was the way I was raised in the corporate life. It is ok not to pivot sometimes for a tried and true proven model. There is certainly something to be said for holding to your core values as a company, but not in all cases see Kodak and many others.
We recently may have stumbled on to a potential home run at Flashissue by listening to our clients needs. One thing to remember about a pivot. Not all pivots are successful. Listening to the clients needs are paramount that will typically lead you to a successful product change. Holding on to an old inefficient business model never serves the client or the company well. Learn to listen, learn to change and be nimble or you in turn are learning to fail. Not all great ideas succeed but you will have a better rate of success by executing on the needs of your clients.
Any other thoughts I may have missed? Have you ever observed a pivot in the corporate world that worked?
One thought on “Learning the Art of the Pivot”
Love this blog! Keep them coming please.