11. Pivot

Question 1

Why do startups fail?

Answer 1

• 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

Question 2

What is a pivot?

Answer 2

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

Question 3

Ways to pivot

Answer 3

• Zoom in (do less)
• Zoom out (do more)
• Platform
• Business Architecture
• Channel
• Customer segment
• Customer need
• Value capture
• Engine of growth
• Technology