11. Pivot Flashcards
1
Q
Why do startups fail?
A
- Nobody wants to buy what their selling
- The value proposition doesn’t resonate
- Customers are not willing to pay the price
- You cannot build the product or the costs are too high
- External forces are threatening your business
2
Q
What is a pivot?
A
It’s a big change to your business model, not an iteration.
3
Q
Ways to pivot
A
- Zoom in (do less)
- Zoom out (do more)
- Platform
- Business Architecture
- Channel
- Customer segment
- Customer need
- Value capture
- Engine of growth
- Technology