How to pivot…the world of startups
See the great thing is, I get to write this entry while going through the experience right now. Most founders tend to write their stories after they hit a point of success. However, I am choosing to write about the experience in real-time, whether failure or success.
Learning how to pivot is essential as part of the startup process because it never turns out how you initially envisioned. Thus if you learn this process properly you can navigate your startup into the various checkpoints of success into a slingshot effort with many forms of testing and validation. However, doing this wrong will lead to nowhere but failure.
What is Pivoting?
It’s a shift in the business’s strategy whether tech, marketing, or model. Testing a new approach to the matter can shift into success. We have seen a lot of this due to the pandemic.
To give you a back story of our pivot, we started building our company in late 2017, with an idea to help founders get the advice in real time they need for running their startup. We built an Ai advisor for entrepreneurs, which launched in Dec. 2019. We had zero growth for about six to seven months, come to find out our biggest competitor was the internet of free information. So we knew that model wouldn’t last, so needed to shift the paradigm of our business. We saw that users were using our product to deploy our partner tools and services. So we thought what if we could have our bot facilitate the work they need in those tools and services. We are now growing exponentially and testing our tech in stages for validation.
You see we knew that our model wouldn’t work, however, we needed to discover what was working in our product that we could capitalize on with the strategy. It took talking to users, looking at user behavior, and tracking analytics to create a new direction within the same mission.
Most founders tend to give up when things start to go south thinking it was an all-point failure. But if you think of it as a method of strategy that failed, and need to go back to the drawing board to edit and relaunch, you can keep the light on the candle burning longer. Pivoting and failure go hand and hand, it’s either one or the other. When setting up a strategy or campaign, cognitively think about the point of failure and see if you can weave it or discover new points of interest from user behavior.
Look at some of the most renowned companies, they never turn out to be what they originally intended. They used their product or variation of their concept and used their strategies combined with analysis of users to create another path to find success in the mission. Be married to the mission, not the product, the product will 99% of the time change.
When starting a business there are many components to get from ideation to launch and in growth mode. It’s difficult to balance innovating the company, and attending the needed administrative work to operate. This is why Maya the smart assistant was born, to help founders predict what work needs to be done for the business to operate and grow and then carry out the tasks to vendors most relevant. Founders can have the time needed to innovate and grow a sustainable company.
Meet Maya, an AI business assistant that learns, grows, and guides founder🤓
Originally published at https://meetmaya.world on March 23, 2021.