Nicholas Thomas is the Director of Business Development at Docudesk Corporation and is passionate about user experience, design, and innovation. You can follow him on Twitter @nicholaswthomas and read his blog at NicholasWayneThomas.com.
Although some discount “The Pivot” as an overused buzzword, for a startup, pivoting can mean the difference between becoming the next success story and joining the deadpool. The principles behind the pivot apply to any industry. With lean resources, fickle users and quickly changing markets, startups have the most to gain from pivoting, and the most to lose from missed opportunities.
The reasons for changing course are often varied, and there are many factors to take into consideration when making the decision. Some companies have discovered that their products need to be significantly tweaked -- or even scrapped all together. Others found that they had the right products, but have marketed to the wrong audience. For some, the only thing they had right was their team.
There may be some valid criticism in the over-usage of the term. Some of what can be identified as pivoting may just be the natural evolution of the company. The technique is not new though, and many established companies look significantly different now than in their early days.
Fortunately for today's startups, pre-existing companies provide examples of successful adaptation.
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