Entrepreneurs will be inspired, have a great idea that they believe will take the market by storm. They pitch it to investors. The have meeting after meeting, yet the investors just stay away. One of two things happen:
1 the entrepreneur blames the investors for "not getting it"
or
2. the entrepreneur pivots.
As originally coined by Eric Ries: "Pivot" - used to describe smart startups that change direction quickly, but stay grounded in what they’ve learned. They keep one foot in the past and place one foot in a new possible future. Over time, this pivoting may lead them a bit away from their original vision, but not away from the common principles that link each step.
Mature businesses also pivot to maintain or regain a competitive advantage.
In this segment, Karen Rands will walk through examples of companies - in start up and mature stages discover how to pivot and get on the right track to stellar results.
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