I've been fascinated with the buzz around the "pivot" word.
It has captured a lot of attention and stimulated much discussion. Even the Wall Street Journal writes about it.
The word means to do something, to take an action (that's a verb). Action is good, that's what "execution of your plan" requires.
Others use words like "iterante" or "spin" or "loop". To me, they are all about the same action.
Yet I find little discussion about "What is the objective of pivoting a startup?" The purpose for doing something should be part of the action. So just what is the objective for pivoting a startup?
I suggest you'll find the Prime Objective (for pivoting a startup) is this: "Be First To Get It Right".
All the pivoting in the world is useless unless you end up in a strong competitive position. The best position is to emerge from all the dizzying pivoting and arrive at one point: Be First To Get It Right.
Facebook, Zynga, Starbucks, Qualcom and Chipotle are some examples whose founders pivoted and became First To Get It Right.
Arivving at that position opens the door to the Prime Goal: Become the Gorilla of a New Space within 5 Years of Launch. When you attain that Prime Goal, you have succeeded with your startup. Everything that follows is easy.
BOTTOM LINE: The Prime Objective of pivoting is Be First To Get It Right. The Prime Goal of pivoting is to Become the Gorilla of a New Space within 5 Years of Launch. That is what all the commotion is about. It is central to building an unfair competitive advantage. You can do it.
I wish you The Best on your Adventure!