Startup pivoting

When Pivoting Becomes Necessary, and How to Pivot Your Venture

Many entrepreneurs start businesses to fulfill particular needs or solve problems. However, somewhere along the way, they may realize that deviating from their original plan or making some changes to their original concept, which is known as pivoting, becomes necessary. Unfortunately, many are reluctant to make alterations because they often think they will abandon their initial vision or idea. Also, because of some entrepreneurs’ attachment to their businesses, they may be unsure when the time is right to pivot. However, business owners should be open to pivoting even if it requires using subtle or radically different approaches when their current strategy proves to be inefficient, unmanageable, or infeasible. Therefore, entrepreneurs should be open to pivoting their business models since modifications may be critical for its long term survival, success and seeing their overall goals and visions materialize.