What is a pivot in business and entrepreneurship?

Pivot, in the context of business and entrepreneurship, refers to the strategic decision to change the direction or focus of a company in response to market conditions, customer feedback, or other external factors.

What are some examples of pivoting?

Below are some examples of pivoting that you might not have guessed are considered a “pivot”: Turning one product feature into the product itself results in a simpler, more streamlined offering. The opposite of the previous point is also a pivot. One product is turned into a feature of a larger suite of features as part of another product.

What is pivoting in business?

Find out what pivoting is, when your company should pivot, and how to ensure a successful pivot. In business, pivoting is a term that describes the process of changing direction when the current strategy is not delivering the desired results. It involves strategically changing a company's business model, product, or target market.