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How can you pivot your startup with frameworks and tools?

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Pivoting your startup means changing your strategy, product, or market to adapt to new challenges or opportunities. It can be a risky but necessary move to survive and grow in a competitive and dynamic environment. But how do you pivot your startup effectively and efficiently? In this article, you will learn how to use some frameworks and tools to help you pivot your startup with confidence and clarity.

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1 Why pivot?

Pivoting is not a sign of failure, but a sign of learning. You pivot when you discover that your initial assumptions, hypotheses, or value propositions are not validated by the market, customers, or stakeholders. You pivot when you find a better problem to solve, a better solution to offer, or a better segment to target. You pivot when you see a new trend, a new competitor, or a new regulation that affects your business model. Pivoting is a way to test, iterate, and improve your startup idea until you achieve product-market fit.

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Alejandro Llovet Abascal

Director General @ICAMI | CEO Peer Advisory Board Chair | Boards Member | ExO Ambassador | Speaker | Epic Classical Music Composer |
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Pivoting is a critical process in a startup's journey because it enables adaptation, learning, and optimization. It's a strategic tool that helps startups navigate the challenges and uncertainties of the business world and increases their chances of long-term success.

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2 How to pivot?

Pivoting is not a random or arbitrary decision, but a data-driven and structured process. You need to have a clear vision, a clear problem, and a clear metric to guide your pivot. You also need to have a framework to help you generate, evaluate, and select your pivot options. One of the most popular and widely used frameworks is the Lean Startup Methodology, which consists of three steps: build, measure, and learn. You build a minimum viable product (MVP) based on your hypotheses, you measure its performance and feedback with your metric, and you learn from the results and decide whether to persevere, pivot, or kill your idea.

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Alejandro Llovet Abascal

Director General @ICAMI | CEO Peer Advisory Board Chair | Boards Member | ExO Ambassador | Speaker | Epic Classical Music Composer |
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Zooming In and Out is a good way to pivot. When you "zoom in," you narrow your focus to examine specific details of your business or strategy. This involves a deep dive into a particular area of your operations, product, or market. It is valuable for scrutinizing specific issues, identifying problems, and developing detailed solutions. It helps you understand the finer nuances of your business and can lead to incremental improvements. When you "zoom out," you take a more strategic perspective, looking at the big picture, considering the overall direction of your company, and evaluating whether a fundamental change in strategy is needed, leading to major shifts in strategy, including pivoting to a different market or business model.

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3 What to pivot?

Pivoting can involve changing one or more aspects of your startup idea, depending on the nature and magnitude of the change. You can pivot your problem, your solution, your customer segment, your revenue model, your channel, your cost structure, or your value proposition. For example, you can pivot from a B2C to a B2B model, from a subscription to a freemium model, from an app to a web platform, from a niche to a mass market, or from a feature to a benefit. You can use tools like the Business Model Canvas or the Value Proposition Canvas to map out your current and potential pivots and compare their pros and cons.

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Alejandro Llovet Abascal

Director General @ICAMI | CEO Peer Advisory Board Chair | Boards Member | ExO Ambassador | Speaker | Epic Classical Music Composer |
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You can pivot any part -or several ones- of your Business Model. It can be anything about your product, market segments, operational activities, customer channels, infrastructure, investments, etc. It all depends on your previous results when you decided that pivoting was necessary. It is strongly recommended to validate what to pivot before you actually start doing that. It can be done with a Hypothesis Statement and an Observation Process for obtaining insights and learnings.

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4 When to pivot?

Pivoting is not a one-time event, but a continuous cycle of experimentation and learning. You should pivot as soon as you have enough evidence and insight to validate or invalidate your hypotheses and assumptions. You should also pivot as soon as you see a significant change or opportunity in your external environment that affects your startup viability or desirability. However, you should not pivot too often or too late, as that can lead to confusion, inconsistency, or irrelevance. You should balance between persistence and flexibility, and avoid pivoting for the sake of pivoting.

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5 How to communicate your pivot?

Pivoting is not only an internal decision, but also an external message. You need to communicate your pivot clearly and convincingly to your team, your customers, your investors, and your partners. You need to explain why you are pivoting, what you are pivoting to, and how you are pivoting. You need to show them the data and the logic behind your pivot, and the benefits and the value of your pivot. You need to address their concerns and objections, and solicit their feedback and support. You need to use tools like the Lean Canvas or the Pitch Deck to articulate your pivot story and vision.

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6 How to execute your pivot?

Pivoting is not only a strategic choice, but also an operational challenge. You need to implement your pivot effectively and efficiently, with minimal disruption and maximum impact. You need to align your team, your resources, and your processes with your pivot goals and plans. You need to test and validate your pivot assumptions and hypotheses with your customers and stakeholders. You need to measure and monitor your pivot progress and performance with your metric and indicators. You need to use tools like the Experiment Board or the OKR Framework to manage and optimize your pivot execution and outcomes.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you pivot your startup with frameworks and tools?

1

2

3

4

5

6

7

1 Why pivot?

2 How to pivot?

3 What to pivot?

4 When to pivot?

5 How to communicate your pivot?

6 How to execute your pivot?

7 Here’s what else to consider

Startup Development

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How can you pivot your startup with frameworks and tools?

1

2

3

4

5

6

7

1 Why pivot?

2 How to pivot?

3 What to pivot?

4 When to pivot?

5 How to communicate your pivot?

6 How to execute your pivot?

7 Here’s what else to consider

Startup Development

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