#011: Pivoting Is For Winners!

Description:

“Don’t hold onto a bad idea just because it was your original idea.” – Ben S. Cooper

As entrepreneurs work through the early phases of their business, it can be a confusing time.  You have a lot of new information constantly coming in that can sometimes point you in a different direction.  Unfortunately, the idea of changing course, or “pivoting” can often be looked down upon by the world of venture capital and the likes.

So, what is the right decision?  Do you stay the course, or do you pivot?

In this week’s episode, the guys talk about their experiences with pivoting.  You’ll hear about when it’s a good decision to pivot, when it’s a bad one, and why it’s seen as a four-letter word.

Show Notes:

·      JP and Ben catch up on the past week’s events.  [0:35]

·      JP talks about getting his first inbound prospect from social media efforts.  [2:44]

·      This episode’s Treps Hack.  [4:58]

·      The guys get into the main topic of the show – Pivoting.  [10:55]

·      JP discusses the evolution of the vision for his business over the past couple years.  [11:39]

·      Ben discusses his experience with how people react to the word pivot.  [12:57]

·      Why pivoting is seen as a negative action.  [18:15]

·      Why customer feedback is so important.  [26:20]

·      The importance of digesting advice before you act on it.  [29:59]

Resources and Links:

·      IoClothes.com

·      Dropbox

·      CapitalOne Café

·      Tim Ferriss episode on “when to quit”

·      1000 True Fans by Kevin Kelly

·      How pivoting is an advantage for a small start-up.  [20:29]

·      The importance of having patience in a startup.  [23:23]

·      When to give up on your business.  [23:56]