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GLOSSARY

Pivot

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A pivot is a strategic change in a startup's direction to test a new business model when the current one is not proving successful.

What is a Pivot?

A pivot is a fundamental shift in a startup's strategy, often altering its product, target market, or business model.

Why it Matters

Pivots help startups adapt to market feedback, customer needs, and changing circumstances to increase chances of success.

Examples of Pivots

  • Twitter started as a podcasting platform before pivoting to a microblogging service.
  • Instagram began as a check-in app called Burbn before pivoting to photo-sharing.

Related Concepts

Iterate: Making small, incremental changes based on feedback.
Prototype: Building a basic version of a product to test assumptions.
Product-Market Fit: Aligning a product with market needs and demands.

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