Pivot: The key to success in digital products
Posted: Mon Dec 23, 2024 5:14 am
In a workshop that left us full of ideas, Demian Schnaidman shared his vision, backed by a study of more than 100 startups, on the main causes of failure in digital products.
Between concepts like technical debt and the shocking fact that 20% of code is often unused, there was one concept that resonated with me more than the others: the pivot.
Although it may sound technical, this term is extremely valuable for any startup that aspires to survive and thrive in this type of environment.
The importance of the pivot
The pivot has become an essential concept in the startup world. Formally, it refers to a company's ability to adjust its direction in response to the demands of the market and its users.
The concept is born from the rather accurate principle that the success of a startup lies not in clinging to its original idea, but in meeting the real needs of its users. Therefore, the ability to change and adapt becomes indispensable.
The pivot is a strategic change that allows the company to adjust its course, korean age numbers learn from its mistakes and respond to market demands. It is a continuous process of adaptation that, although it may seem dramatic, can make the difference between success and failure.
The context of the pivot in startups
As is well known, rigidity can become a silent enemy. Demian pointed out that many companies that fail are those that fail to distance themselves from their initial prototype, clinging to an idea while the market and users evolve. In these types of situations, the pivot becomes an indispensable tool.
Diego Noriega, in his book CO Leadership , also addresses this topic. In Chapter 5, he debunks the idea that a startup's success depends solely on having a good product. In reality, the product is only one part of the puzzle .
Businesses need revenue, sales and customers to thrive, and to achieve these, they must be willing to pivot when necessary.
Between concepts like technical debt and the shocking fact that 20% of code is often unused, there was one concept that resonated with me more than the others: the pivot.
Although it may sound technical, this term is extremely valuable for any startup that aspires to survive and thrive in this type of environment.
The importance of the pivot
The pivot has become an essential concept in the startup world. Formally, it refers to a company's ability to adjust its direction in response to the demands of the market and its users.
The concept is born from the rather accurate principle that the success of a startup lies not in clinging to its original idea, but in meeting the real needs of its users. Therefore, the ability to change and adapt becomes indispensable.
The pivot is a strategic change that allows the company to adjust its course, korean age numbers learn from its mistakes and respond to market demands. It is a continuous process of adaptation that, although it may seem dramatic, can make the difference between success and failure.
The context of the pivot in startups
As is well known, rigidity can become a silent enemy. Demian pointed out that many companies that fail are those that fail to distance themselves from their initial prototype, clinging to an idea while the market and users evolve. In these types of situations, the pivot becomes an indispensable tool.
Diego Noriega, in his book CO Leadership , also addresses this topic. In Chapter 5, he debunks the idea that a startup's success depends solely on having a good product. In reality, the product is only one part of the puzzle .
Businesses need revenue, sales and customers to thrive, and to achieve these, they must be willing to pivot when necessary.