Important Startup Founder Trait #6
Cynthia Wylie
Writer. Teacher. Uses statistical and mathematical models to help entrepreneurs solve thorny problems. Favorite saying: The Truth is in the Numbers.
6.?They aren’t willing to change.?Are the founders so entrenched in their vision that they can’t accept that the world doesn’t want their exact product or service, or that there is something wrong with their product, service, or business model and it needs to be changed? Almost every startup business has to pivot. What is a pivot? It’s when you change your business model in some way because your current model isn’t working. In my latest business, Bloomers Island, I’ve pivoted four times. I know it can be exhausting after your first try and it’s difficult to start over. If that’s the case, take a couple weeks off. I got so burned out after my first couple of years and first couple of pivots, that I went to South America for six months. It was the best thing I ever did. I returned invigorated and ready for my fifth pivot. At the end of the day, if you’re not willing to make changes, you won’t make it.
Exclusive Agent at Allstate
2 年This is such an important point. I own a small insurance business in CT. Last year when sales were slow I decided to reduce the number of product lines I as offering. The change was amazing, my employees and customers were much happier, we became better focused on what we do, and year end sales increased 30% over the prior year. For my situation, I realized I did not have to be a one stop shop to have success.