The pivot – at least as far as a startup is concerned – is defined by Eric Ries, author of “The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses” as a structured course correction designed to test a new fundamental hypothesis about (a startup’s} product, strategy, and engine of growth. Properly pivoted, a startup move away from a path of doom towards one which it may have some degree of success.
The following shows three examples of flexible businesses – Apple, PayPal and Amstrad – that’s pivoted and have become so successful they are now household names:
[Infographic credit: quickquid.co.uk]
