Having advised, run, and worked in start-ups for the past 5 years, I can say with certainty – there will come a time in your start-up journey that you will need to make the decision as a founder and leader to either pivot or persevere.
Over the years it would appear that the acceptable definition of “pivot” in businesses has changed; whereas previously it was understood to mean taking a different approach to reach your goal, now it seems to have expanded to include changing the direction of the company itself.
Both have their risks and rewards, but sometimes you need to hold firm and push ahead in the face of difficulty; but how do you make that decision?
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The types of pivots
There are two main types of pivots that a business can make:
Change in mission and vision: Looking at alternative goals and objectives
Change in method: Loo…
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