When changing course, the last thing you want to do is set the team off on a wild goose chase or take a situation from bad to worse.
A change in focus can lead to great things by bringing in new customers or providing a much need kick in the pants.
With more and more companies jumping on the content-marketing bandwagon, consumers are getting overwhelmed with too much information online. Entrepreneurs now need to revisit their strategy to stay ahead of the curve.
Starting a Business
You must analyze the market and the opportunity to see if you should move forward, or pivot.
Steve Jobs wasn't right about everything. Sometimes, you really need to listen to what people want.
A startup that allows customers to pay for restaurant reservations is doing a 'soft pivot' following outrage from the restaurant industry.
When the market is changing, you don't survive staying the same but how you adapt is just as important.
Getting off on a bad foot is not fatal for young companies. Serial-entrepreneur Steve Blank explains how a pivot can turn things around.
There's something to be said for stick-with-it-ness, but most entrepreneurs stick with flawed ideas and plans way longer than they should.
Not every ailing organizations can adapt. It might be better to help them die gracefully to emerge relevant later.
Ready To Launch
The intriguing flexibility of the skilled yogi relies on a powerful core. Your business also needs both to thrive.
Entrepreneurs often seem like they are so put together – their plan is on target, they are doing amazing and life couldn't be better. But many times that couldn't be further from the truth. And that is okay.
By pivoting its brand strategy, CalTort has managed to stay competitive with Chipotle, Moe's and other franchises. Here is what you can learn from them.
For our series The Grind, the founder of Practice Makes Perfect discusses how pivoting helped him not fall into the category of failures.
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© 2016 Entrepreneur Media, Inc.