Questions

When should you pivot your business model? After how many month / customer interviews?

3answers

I would try selling it to 10 customers (without changing your pitch) and if you don't get 3 customers to buy, then adjust.

It's less about time and more about # of learnings. I don't like interviews, I like asking if they have the problem, showing them our solution (verbally or with a visual) and then asking for their business and taking their money.

If they don't pay, doesn't count.

Don't spend it, test the complete group (or 10 min) and then decide to pivot, or preservere.


Answered 5 years ago

It's impossible to give a credible and useful answer to your question, based on how this has been framed. The decision to pivot is a fundamental leadership decision that can only be made based on the very specific information you have been presented unique to your team and market opportunity.

I'd be happy to talk to you in a call to understand what has happened to date to help provide some clarity into your decision-making process but I'd be highly skeptical of any generalized advice you get to this question.


Answered 5 years ago

Hello ... I've pivoted a few times and can tell you that the answer to your question is not binary. There is no answer to your question based on time, quantity of customer interviews, or even a sales figure.

Sorry to say this, but I don't think that this question will really get you the answers you're looking for.

If your challenge is that you feel that you've put in enough "time" and, hence, think you can start to pivot your model to the next phase - you're looking at it the wrong way.

If you've managed to start-up and align the company along your mission, vision and values ... then the key is to hone in on the sweet spot. That 20% of your customers, contacts, employees, etc that drive 80% of your results. You need to refine your model to a sustainable competitive advantage that is a beacon to the customers you want, the employees you need, and the resources to bring them all together.

You turn on the light and become that beacon when you start to build organizational alignment around mission, vision, and values. The key is then based around getting the Right People in the Right seats and working on the Right things. Suggest you read the Rockefeller Habits by Verne Harnish if you haven't already.

You can focus on your BHAG, but keep the focus on the next step. You can focus on innovation and marketing in that space and that's where the company needs you.

If you want to go fast, go alone. If you want to go far, you need to bring people with you ...

When you've built the systems and structure around alignment you're ready to pivot and scale.

I have lots of blog posts on this subject, just follow this link: http://wisenapkin.com/tag/growth/

Make it a great day!


Answered 5 years ago

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