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While the word "pivot" has been over-used by the press, the simple, humble action of admitting that your business model might change remains a powerful tool. I should know: my company changed business models several times, much to the amusement of my friends and coworkers.
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Hi. • John Manoogian III • @jm3
Hi.An unusual background
Code leadership design CTO* * *
The AwesomeTruth About Pivots!
@JM3
Confession:I have pivoted more than anyone I know in my career and in my startup.
Show of hands...Who here *wants* their startup to fail?
“But… but!”
My condolences in advance.
?
$ $
$how of Hand$ #2Who here wants to build a
billion dollar company?
STARTUPS ARE A RACE AGAINST BROKESince most startups who succeed undergo pivots, an unhealthy aversion to pivots can reduce your chances.
Most Successful Startups pivotLet’s play, “name their original business model…”
Flickr
Heroku
Paypal
Youtube
Awe$ome companies pivot
chat w photos
in-browser coding
location-based checkins
beam money to Palm Pilots
podcast directory
video dating site
140 Proof!
Different pivots unlock different weapons and abilities, like power-ups.
analytics ➤ recommendations
long-tail ➤ mad.ave
self-serve ➤ full-serve
140 Proof’s pivot evolution:
Pivoting is toughAdmitting we’re wrong is painful.Doing field surgery on our babies is terrifying.
We pivoted to an investor free zonePivoting our company’s revenue mechanism from self-serve to full-serve coated us in kryptonite.
(luckily, it all worked out in the end ;)
A taxonomy of pivot types.
4. customer need
5.zoom in /zoom out
6.growthlever
3.revenue model
2. market
1.technologystack
(winding down)
how do you know when you have made a great pivot?
•Pivots are positive.Great companies pivot. You can pivot anything.Pivot one thing at a time.Get them beating down your door.
(Get those iPhones out.) @JM3
Billion dollar founders are no different from you.They pivoted.
Thanks!@jm3
