Successful Business Pivot Examples

My biggest lesson from 15 years as an entrepreneur. “Meet your client where they are.” I used to sell energy efficiency solutions and I loved it. They were good for the property, people and the environment. I was young and green and it was a win-win-win business model. It should have been easy to sell. We could do the math and prove out exactly how much energy savings we could generate in a given period of time. It was incredibly accurate. We got 3rd party verification. Owners wouldn’t budge. We 100% insured the savings. Owners wouldn’t budge. We brought the financing-no money out of pocket / instant cash flow with no risk. Owners STILL wouldn’t move forward. I had had enough. Why were owners not jumping on projects with conservative 30%+ IRRs?! And investing into their own assets at that? 😡🤬🤯 So, I completely pivoted my business. I mean a full 180. I moved from the expense side to revenue… From: Own Your Energy To: Own Your Presence And I started making websites… We offered: No promise of a return No guarantees No financing And we finally found success! (Even for many of the same clients) Why did THIS work and not my plan that seemed perfect on paper? Despite what I thought at the time, owners weren’t crazy… They were just more concerned about where revenue was going to come from in a down market. We found their largest PERCEIVED problem and addressed that: Getting revenue in the door! Because that was something they didn’t have control over and it was their greatest PERCEIVED risk at that time. In fact those beautiful energy projects probably even posed a bigger risk to their revenue with the potential inconvenience. Now, I’m not suggesting anyone struggling completely 180 their business, as most people are not in that kind of position. But, when you are struggling, make sure you take the time to look up from your hard work…to see where your clients are, their biggest issues, their greatest fears, and their version of success. Then tailor your messaging and your value presentation to this as best you can. — Someday I’ll go back to creating value from energy efficiency… But for now, there still is a very large perceived risk on where renters will come from. So, it looks like it’ll be digital marketing for the foreseeable future 🤓 #DigitalMarketing #Pivot #Multifamily #PropertyManagement #TheClientIsAlwaysRight #OwnYourEnergy #OwnYourPresence

I learned this business framework from Jessie Pujji—who bootstrapped and sold Ampush for 8-figures. The core idea is this… Every business in its “natural, aligned state” grows more effortlessly. If you’re hitting lots of friction and growth is slowing, then it’s due to misalignment. The Spinal Alignment of the Business. Think of each box as a vertebrae in your back. If they’re aligned, your business is on the right track. If they’re misaligned, growth slows down. Here are the 3 parts: 1/ WHY = Stakeholder motivation, i.e. why your team believes in your business 2/ WHAT = Strategy, i.e. what specific initiatives is your company focused on 3/ HOW = Org capabilities (unfair advantages) + resource allocation (where you're spending money) Example: When Ampush sold a stake to Red Ventures, they pivoted their business model. They evolved from a tech-enabled Facebook agency to a "full funnel strategic marketing partner.” Initially, they directed their new business line towards existing customers. This failed. Their existing customers were confused and not adopting the new service. And so, they decided to redirect their new business to new customers (strategy). Then they built new capabilities for search, conversion optimization, etc. and figured out how to spend their time (org capabilities/resource allocation). By aligning all these boxes, they unlocked growth for this new service. *** I write about lessons on building profitable businesses in my newsletter. Join 5,000 readers here: https://lnkd.in/gdzMfwrS Follow Dexter Zhuang for more content like this.

No one gets it right the first time. 𝗪𝗵𝗮𝘁 𝗽𝗲𝗼𝗽𝗹𝗲 𝘁𝗵𝗶𝗻𝗸: Simply come up with a great idea and build a huge business out of it. 𝗥𝗲𝗮𝗹𝗶𝘁𝘆: Startups begin with a general vision. Those that achieve product-market fit do so by trying many different things and learning from each failure. First-time entrepreneurs often hope there’s a magic formula for building a multi-million dollar business or a multi-million user app. Unfortunately, there isn’t. It's not the idea, it's the execution that counts. Most successful businesses follow a simple playbook: • 𝗧𝗲𝘀𝘁 • 𝗟𝗲𝗮𝗿𝗻 • 𝗜𝘁𝗲𝗿𝗮𝘁𝗲 𝗧𝗵𝗲𝗻, 𝗱𝗼𝘂𝗯𝗹𝗲 𝗱𝗼𝘄𝗻 𝗼𝗻 𝘄𝗵𝗮𝘁'𝘀 𝘄𝗼𝗿𝗸𝗶𝗻𝗴. Startups are essentially a series of experiments. Your goal as a founder is to learn from each experiment and allow small gains to compound, reaching Product-Market Fit as quickly as possible. Successful businesses rarely finish where they began. Even some of the biggest household names pivoted dramatically: • 𝗦𝗹𝗮𝗰𝗸 started as an internal communication tool for their game, Glitch. • 𝗧𝘄𝗶𝘁𝘁𝗲𝗿 was born from a struggling podcasting company called Odeo. • 𝗡𝗶𝗻𝘁𝗲𝗻𝗱𝗼 began as a company producing playing cards and tried several different businesses, including taxis and love hotels, before pivoting to video games. It's a great reminder that the goal is to build a successful business, not prove your original idea was right. The playbook may not be sexy, but it works. If you made a significant pivot in your business that changed everything, I'd love to hear about it. Let me know in the comments. -- If you found this post helpful: ♻️ Repost to share it with your audience 🔔 Follow me Darrell Lerner for more on entrepreneurship, startups, personal branding, and mindset.

The master has failed more than the beginner has tried. The masters of business are rarely right on try number one, yet somehow founders think the first thing they ship has to be a home run. Very few companies achieve that. Masters become masters because they stay at it. 𝐍𝐢𝐧𝐭𝐞𝐧𝐝𝐨: Originating as a card-selling business in Japan, Nintendo ventured into diverse industries, including taxis, love hotels, ramen noodles, and vacuum cleaners. However, in the 1980s, the company shifted its focus to gaming. 𝐒𝐥𝐚𝐜𝐤: Started as a video game. The widely used communication platform in professional settings had a different origin than its intended purpose. Founded by Stewart Butterfield, Slack was initially known as Tiny Speck and aimed to develop a video game called Glitch. 𝐒𝐡𝐨𝐩𝐢𝐟𝐲: Originally named "Snowdevil," Shopify entered the scene in 2004 as an e-commerce site specializing in snowboarding equipment. 𝐈𝐧𝐬𝐭𝐚𝐠𝐫𝐚𝐦: Initially called Burbn, Instagram started as a check-in app similar to Foursquare. However, they were stuck at 100 users, so the developers streamlined the app's features and shifted its focus. 𝐘𝐨𝐮𝐓𝐮𝐛𝐞: YouTube had humble beginnings as a video-dating site with the catchy slogan "Tune In, Hook Up." However, users began sharing amusing videos instead, prompting a pivot in the company's direction. It's the master's ability to stay in the fight and pivot to product-market fit, that ultimately lead to them becoming the recognizable brands we know today. 𝐊𝐞𝐲 𝐈𝐧𝐬𝐢𝐠𝐡𝐭 Too many of us approach situations with the belief that we and our team must be right. The launch has to be right, the marketing campaign copy has to be exactly on point, the App Store metadata has to be perfect, etc., etc. It doesn't. It's a process. Remember we are here to "get it right" not "be right." Adopt the attitude and mindset of "What can I learn from this?" This shift in perspective removes the weight of perfectionism, and every experience becomes an opportunity for growth and improvement. By embracing this approach, you will reach your desired destination with greater speed and efficiency. And the journey will be a little more fun. Try it. Until next time, Kevin 💙 #startups #founders #enterpreneurship #business #marketing

🚀 Did you know pivoting was the (accidental) secret sauce behind many startup successes? Sometimes pivoting can be a terrifying idea. But what actually gets these companies to pivot in the first place? 1️⃣ Learning from the Market: Initial ideas often don’t match market needs. Startups gather feedback, understand user pain points, and adapt their products accordingly. Dropbox, for instance, started as a simple file-sharing service and evolved based on user needs. 2️⃣ Staying Relevant: Market trends and technologies change rapidly. Startups that pivot can stay relevant by aligning with current demands. Instagram, originally a check-in app called Burbn, pivoted to photo-sharing when they saw where users were spending their time. 3️⃣ Unlocking Growth Potential: Sometimes, the original market is too small. Pivoting opens up new opportunities for growth and scalability. PayPal started as a security software before shifting to digital payments, discovering a much larger market. 4️⃣ Overcoming Challenges: Every startup faces obstacles. Successful ones use these challenges as opportunities to rethink and innovate. Twitter was initially a podcasting platform called Odeo, but when iTunes dominated the market, they pivoted to microblogging. 📈 Key Takeaways: - Listen to your users: They will guide you to what they really need. - Be adaptable: The ability to pivot is crucial to build something people want. - Stay persistent: Embrace changes and challenges as part of the journey.

Small pivots, big wins. Small shifts in a business can lead to significant success. We learned this at Vocatech. After developing our user friendly, all-in-one calling portal and dashboard, we noticed a market trend: heavy adoption of Microsoft Teams. So, we pivoted, integrating our calling solution directly – no extra software needed! This change not only met our customers' needs but also strengthened our market position. Businesses can now consolidate products, streamline productivity, and benefit even more from our enhanced tools. Key takeaways for small businesses: - Adapt for success - Watch market trends - Innovate for customers Your next breakthrough could be just a small pivot away.

Every startup has its moment of truth. Pivot or Persevere: What's Your Call? "The Lean Startup" by Eric Ries presents a compelling case study of IMVU, a social entertainment company. This story stands as a testament to the power of the Lean Startup methodology, particularly its emphasis on the pivot. Here's the essence: → Early Challenges: IMVU faced initial setbacks with its product, struggling to gain traction among users. The founding team's vision was a 3D instant messaging service, but feedback was lukewarm at best. → The Pivot: Instead of plowing ahead with their original plan or giving up, IMVU's team applied the Lean Startup principle of the pivot. They shifted their focus based on user feedback, which led to significant changes in their product development approach. → Success Through Iteration: This pivot wasn't a step back but rather a strategic shift towards a more promising direction. By embracing change and being willing to adapt, IMVU eventually found its niche, growing into a successful business. IMVU’s journey illustrates the Lean Startup's core message: success often comes from learning what your customers truly want and adjusting your path accordingly. It's about innovation, sure, but it's also about flexibility, resilience, and the courage to pivot when necessary. Have you faced a pivot moment in your startup or business? Share your story of a strategic shift that led to new opportunities. #technology #entrepreneurship #innovation #strategy #business #leadership #digitalmarketing #successmindset #organicgrowth ~~~ Found this helpful? Consider sharing 📤 and follow me Marco Franzoni for similar insights!

Zenfetch went through 3 months of idea exploration and 5 months of pivots before finding our groove with personal knowledge management. Here’s what we’ve learned about landing a pivot: 1️⃣ Find the area that seems like play. George Mack defines this as the Joe Rogan Razor. What’s the thing you can do for 5000+ hours and still find interesting? Startups are a game of attrition, look for the problem, market, and idea that will keep you in the ring the longest. 2️⃣ Ignore early-stage competitors. Competitors were one of the biggest reasons Gabe and I didn’t pursue Zenfetch. What’s the point of building this when X company is already doing it? In Roger Mader's words, "Forget your competitors. Worry about your customers. Study them. Know them better than they know themselves. Ask why. A lot." It doesn’t matter if you’re the first, all that matters is you’re the best. You become the best by customer obsession, not competitor obsession. 3️⃣ Bias to action. Oftentimes it feels like successful companies were always successful. The reality is most companies pivot. Slack was a video game. Twitter was a podcast tool. And my favorite, Play-Doh was a wall cleaner. Instead of agonizing over the right idea, focus on getting started and iterating quickly.

You need to be able to pivot when business changes. In 2023, the drayage market changed drastically, and we found ourselves with lower rates and lower volume. I realized that I needed to look at new opportunities and new ideas. Until then, we’d only served customers within 150 miles from the port. But when I looked, I saw the need for longer-haul drayage. I shuffled things and we started serving customers up to 600 miles from ports. We took on customers in Buffalo NY, Columbus, OH and even all the way to NC. I think every business needs to expect the downturn and plan to be the one that will not only survive but thrive! Become the one who saw the needs before and the one who is the mainstay when others can’t pivot fast enough.    What are you doing to stay in the game no matter what comes at us?