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
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is a pivot?

A

It’s a big change to your business model, not an iteration.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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
How well did you know this?
1
Not at all
2
3
4
5
Perfectly