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Business
Pivot
A significant change in a company's business model or product direction based on customer feedback.
Pivoting is common in startups because the first idea is rarely perfect. The best founders listen to data and customers and are willing to change direction quickly while they still have runway left.
It's realising your original plan isn't working and turning the ship in a new direction before it sinks.
Real world: Instagram started as a location-based check-in app called Burbn. The founders noticed users loved sharing photos, so they pivoted to a photo-sharing app and became hugely successful.
💡 A smart pivot can turn a failing idea into a billion-dollar company.