Wednesday, August 3, 2011

Beware of the pivot

A new term that is bouncing around the start-up world, is the term "pivot" which basically means to change direction or concept. Most entrepreneurs will change their initial ideas in some way at some time - this is in general part of the process of realising an opportunity. As one starts in the quest to develop a business, all the answers cannot be known prior to starting, for if they were known it would be easy - like following a recipe. Alas for most of us this is not the case, we have some notion of what things will look like and then embark, perhaps with a degree of ignorance on a journey.

Lately, I have had a number of clients or colleagues ring me up and exclaim with great exuberance, " we have pivoted !". I must say that this alarms and surprises me, changing direction should be part of the entrepreneurial process, but not an end in itself. The goal is not to pivot, the goal is to make your business a reality and if you should have to change direction along the way, so be it. But to exclaim and rejoice about the act of changing direction is not something in itself to rejoice about ! 

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