The pivot — the idea of reinventing or refocusing your business on the fly — has been part of business strategy forever, but it’s become fashionable lately.
Famously, companies like Twitter and Groupon have come out of startups whose original ideas didn’t work out. Even Google adjusted its goals when it realised that its advertising business would become much more important than enterprise search licensing.
We’ve put together some highlights from our “Art Of The Pivot” panel at our Startup 2011 conference last week.
Alexis Ohanian of Hipmunk (and co-founder of Reddit), Eric Eichmann of LivingSocial, David Schofman of Coro Health, Mike Lazerow of Buddy Media and Mike Walrath of WGI discuss why and how a company can press the restart button already in flight.
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Produced By: Kamelia Angelova, William Wei, & Corey Nachman