Pivot or abandon
If you follow news about tech startups, you have undoubtedly heard the term “pivot.” It’s a hot idea in Silicon Valley and other tech hubs, and is closely associated with the Lean Startup movement. In The Lean Startup, Eric Ries defines a pivot as a “fundamental change to [a startup’s] business strategy” borne out of necessity, such as failing to gain traction and/or making a crucial discovery about customers’ needs.
One oft-cited example of pivoting involves Twitter, the popular social network that launched in 2006. Twitter did not start out as a social network. Its origins lie in Odeo, a long-forgotten podcast directory ...