Pivoting is the new poster word of start-up lexicon. Though it is common sense and has been proven true by many businesses long ago, it has gained currency now.
‘The idea that finally makes a business big is generally not the ‘first look and feel’ of the idea. It is the shade of the original which has been tied and dyed or tweaked to make it more consumer appealing.
Earlier, businesses diversified or ventured into a virgin direction slowly but pivoting is now about pace.
“A start-up is not shotgun. It’s a machine gun. You have to hit multiple times”, says Vipul Mishra, Cofounder, Canvasflip, a start-up that has pivoted six times in a span of one year.
Let us understand the basics of Pivoting
1. Don’t forget the basics – A pivot is a central point on which a mechanism turns or escalates. It could be a person or a thing on which something turns, hinges on depends.
So, pivoting means that we might change our direction of movement, that mode of balancing but the central point remains the same.
In terms of business, the core idea/sector remains the same.
YouTube started in 2005 as a video dating site called Tune in Hook Up and later pivoted to online video sharing. The core space – online videos – remains the same.
In terms of Parenting, it means that the core idea of Parenting – unconditional love, silent observation, patient guidance and constant encouragement will not change in any age.
Also, children remain the pivots of parents’ lives till they are children. For Indian Parents, it is for life.
2. It is a strategic tool – Pivoting is quickly trying different related ideas/techniques if one idea doesn’t give beneficial results. It can go positive as well as negative. It will be positive if fuelled by passion, not by desire to raise or burn money.
Changing tracks without putting enough thought into the new roadmap does not work. Also, the team behind the idea should be committed and have the expertise.
In terms of business, lot of fundraising before pivoting is generally a road to destruction.
In terms of parenting, we need to try different styles of parenting for different phases and temperaments of our children. What worked a decade ago might not work today.
Technology has given birth to new challenges and hence new parenting styles. My book “Don’t Raise Your Children, Raise Yourself (Amazon Bestseller) talks about seven parenting styles while Diana Baumrind discussed three parenting styles in 1975 and it worked in the last century.
3. It accepts failure and motivates to move on – Many promoters and founders get so attached to their business ideas that they don’t readily accept its non viability.
Investors / Mentors can show them the related avenues. Pivoting improves resistance of entrepreneurs and makes them failure friendly. It keeps them nimble and open to accept failures and quickly move to asses other workable options. A passionate and expert team gives the confidence that they will make their teamwork work, whatever it takes. Snapchat succeeded after 24 failed ideas.
Parents should encourage their children to use pivoting in life – for choosing subjects, career options or jobs. Children might not be able to figure out their area of professional interest in one go. Many a times, parents and peers push them towards choices which are trendy and lucrative but might not be appropriate for them.
Parents must accept pivoting by their children and should support them if they wish to fine-tune or alter their choices.
I am an Author, Entrepreneur, Motivational Speaker, Parenting expert based in Mumbai. Having written Bestsellers like Don’t Raise Your Children, Raise Yourself (Amazon Bestseller), Why Women Are What They Are, Come On! Get Set Go
I am running Life Lemonade which offers unique Training Programs on Life Transformation, High Performance Leadership, Women Issues and Parenting.
Also read my best articles here!