10 laws of a successful pivot
Mastering the pivot is the key to every successful startup. Nobody has the perfect idea on day 1.
When early stage VCs say they invest in people, they are really saying they expect the founders to have enough self-awareness & humility to say it's not working, then keep pivoting until it does.
Pivoting a startup is like golf. Don’t stand at the tee & keep swinging for a hole-in-1 with your original idea. Instead, focus on what you’ve learned, what you now see, & move closer with every swing
2. Average founders pivot half-ass, then fail. Successful founders pivot so hard it hurts. Think Tom Cruise pulling max G's...
3. Pivoting is like a desert survival test. Pick only what you absolutely know works. Everything else is baggage weighing you down. If it's not painful, you didn't pivot...
4. The biggest sign of a failed pivot is that an updated version of the original product was still released, even though you know it's not a home run. You failed to act upon Newton's 1st law...
5. If you're wondering what to pivot to, get off your butt and talk to 100 customers. Take notes word for word; you'll need a handful of the top quotes for your new pitch deck.
6. Pivot by backcasting. Start with a vision, work backwards based on what was hardest, & then the next hardest step, until you get to the easiest. That's your first move. Think Bezos selling books.
This applies to new tech – anything needing an explainer video
7. Don't forget to KISS! – Keep It Simple Stupid!
Use MVPs to test hypotheses, not get high NPS's.
8. If you're pivoting and low on cash, time is the killer. Pick a skeleton crew now...get yourself a longer runway
9. Startups fail because they have too many people, not too few. In a pivot, you have the advantage of selecting your Ocean's 11 (though <7 is heaven) that are each specialized & 10x better. Then, STAY lean this time.
10. Timing is everything with startups. Make your own timing by simply surviving, iterating, and waiting for the right wave...or better yet, create your own – one customer at a time
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